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Sunday, 26 February 2012

DAILY STOCK MARKET UPDATE: 27.02.2012



Stock

Karachi Stocks Up 204.04 Points:
KARACHI, Feb 24: At close of trading, the KSE-100 index was at 12719.96, up 204.04 points.


February 24, 2012






TOP  5  SCRIPTS GAINERS AND LOOSERS:

Unilever Pakistan
Rs 92.44
Dadex Eternity
Rs (2.97)
Nestle Pakistan
Rs 44.39
Habib Bank
Rs (2.61)
Attock Petroleum
Rs 21.02
Exide Pakistan
Rs (2.00)
Millat Tractors
Rs 19.91
Reliance Weaving
Rs (1.58)
Service Industries
Rs 8.27
United Bank
Rs (1.03)



Equities sustain gains above 12,700-level
KARACHI, Feb 24: The share market on Friday was back on the rails after having fully digested the overnight losses followed by strong covering purchases at the lower levels on the blue chip counters under the lead of fertiliser, cement and oil scrips.
The market’s buoyant mood is also well reflected in the KSE 100-share index, which soared to new peak level above 12,700 points at 12,706.52 points or 1.52 per cent and 190.60 points in a session.
Although volume figure failed to keep pace with the mounting buystops as investors held on to their positions anticipating fresh increase in prices, price flare-up on fertiliser sector was fairly aggressive at the current lows. Both Fauji Fertiliser and Engro
Corporation remained in the limelight and ended with sharp recoveries.

An idea of weekend buying flurry, which is considered a rare phenomenon as investors generally hate to take risks ahead of an intervening two closures, reflects that despite negative news from the political front many are not inclined to miss the current lower levels on some choice sectors, analyst Samar Iqbal said.
“A loud whispering that the Federal Board Revenue (FBR) may soon accept amended proposals of the SECP in the Capital Gain Tax (CGT) was made an excuse for the weekend snap run-up,” he added.
But another leading stock analyst Ahsan Mehani said the power behind the strong weekend rally appears to be positive fall-out of the chain of higher payouts and bonus shares.
“An increase of about 200 points in the benchmark that too at the closing stages of an eventful week is not a small achievement as reflects its sustained upward drive is seeking to explore the level of 13,000 points not in distant future,” he added.
But much of the buying interest again remained confined to the low-priced shares under the lead of JS & Co, Bank of Punjab and Bank Alfalah, which together accounted for about 70 per cent of the total.
Leading gainers were led by Unilever Pakistan and Nestle Pakistan, up Rs92.44 and Rs44.39 at Rs5,647.44 and Rs3,359.39, while major losers included Dadex Eternity and Habib Bank, off Rs2.97 and Rs2.61 at Rs56.50 and Rs122.56 respectively.
Traded volume showed a modest rise at 192.346m shares from the previous 178.045m shares as gainers held a strong lead over the losers at 166 to 86, with 96 shares holding onto the last levels.
The active list was topped by JS & Co, steady by 13 paisa at Rs10.50 on 25m shares followed by D.G.K. Cement, higher by Rs1.25 at Rs27.18 on 19m shares, Azgard Nine easy by 24 paisa at Rs7.21 on 24m shares, Bank of Punjab, higher by 50 paisa at Rs8.78
on 11m shares, Bank Alfalah, up 43 paisa at Rs14.27 on 8m shares, Fatima Fertiliser, lower 10 paisa at Rs23.74 on 7m shares
and Arif Habib Corporation, up 57 paisa at Rs30.57 also on 7m shares.

They were followed by TRG Pakistan, firm by 25 paisa at Rs2.71 on 6m shares, Nishat Mills, higher by Rs1.69 at Rs51.40 on 6m shares and Engro Polymer, higher by 65 paisa at Rs10.90 also on 6m shares.
FUTURE CONTRACTS: The active list on this counter was again led by D.G. Khan Cement, higher by Rs1.17 at Rs27.40 on 3.036m shares followed by its matured contract, up Rs1.21 at Rs27.16 on 1.864m shares and National Bank, up 58 paisa at Rs50.08 on 2.464m shares.
They were followed by Engro Corporation, higher by Rs5.05 at Rs106.24 on 1.875m shares and Fauji Fertiliser, up Rs3.78 at Rs124.00 on 1.321m shares.
DEFAULTER COMPANIES: Brothers Textiles came in for active short-covering and was quoted higher by 33 paisa at Rs1.03 on a large volume of 0.206m shares followed by Dost Steels, steady five paisa at Rs2.18 on 76.579 shares and Kohinoor Power, firm
by four paisa at Rs2.30 on 32,820 shares.

DIVIDEND: OGDC second dividend 15 per cent, Biafo Industries, cash interim, 10 per cent and Nishat Power, cash interim 10 per cent.

Mohammed Saleem Mansoori

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