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Wednesday, 7 March 2012

DAILY STOCK MARKET UPDATE: 08.03.2012







Stock


Karachi Stocks Up 88.48 Points:

KARACHI, Mar 08: The KSE-100 index was at 13333.43, up 88.48 points. (today 11.46am)

March 07, 2012


 5 TOP GAINERS  &  LOOSERS:

Colgate Pakistan

Rs 42.58

National Refinery

Rs (6.35)

Nestle Pakistan

Rs 39.52

Unilever Pakistan

Rs (5.17)

Shell Pakistan

Rs 8.08

Pak Oilfield

Rs (4.40)

Bata Pakistan

Rs 7.65

Pak Petroleum

Rs (4.19)

PICT

Rs 6.58

PSO

Rs (3.75)

 


KSE Index falls 79 points; volume soars


KARACHI, March 7: Traded volume on the Karachi Stock Exchange on Wednesday crossed the 300m-mark after several years and analysts said investors were building-up long positions on the undervalued sector amid market talk of massive capital gains after April 1, when the amended Capital Gains Tax regime would be in place.
The benchmark KSE 100-index, however, suffered an overdue technical correction and was marked by 79.39 points at 13,244.95.
The major buying shift from the overvalued counters to the low-priced ones reflected investors wanted to be in safe investment zone to avert any undue financial loss as a result of negative political undercurrent.
The market’s sustained run-up during the last couple of weeks low-priced shares had played a significant role and kept the investor interest alive aided partly by higher payouts by some of the leading companies plus bonus shares, brokers said.
Fauji Cement, JS & Co, Lotte Pakistan, Azgard Nine, Bank of Punjab, Bank Alfalah were among the top volume leaders and accounted for a half of the total turnover.
“The 300m-mark is a cherished goal of the brokerage houses as it makes them self-sufficient in daily commission income,” said an analyst and welcomed that “the level will be sustained in the coming sessions also”.
The benchmark KSE 100-index, however, suffered an overdue technical correction after the last seven week’s sustained run-up and was quoted lower by 79.39 points at 13,244.95 as compared to 13,324.34 a day earlier reflecting the weakness of some leading base shares.
Among the top gainers, Colgate Pakistan and Nestle Pakistan were leading, up Rs42.58 and Rs39.52, while losers were led by National Refinery and Unilever Pakistan, off Rs6.35 and Rs5.17 respectively.
Traded volume soared to 318.609m shares from the previous 251m shares as gainers held a strong lead over the losers at 181 to 114, with 68 shares remaining unchanged at the last level.
The actives list was led by Fauji Cement, up 30 paisa at Rs5.02 on 31m shares followed by JS & Co, higher by Re1 at Rs11.96 on 27m shares, Lotte Pakistan, higher by 37 paisa at Rs9.38 on 25m shares, Azgard Nine, up 60 paisa at Rs7.28 on 21m shares, Arif Habib Corporation, firm by 34 paisa at Rs31.55 also on 21m shares, Bank Alfalah, off 61 paisa at Rs15.37 on 17m shares and Bank of Punjab, higher by 52 paisa at Rs8.62 on 15m shares.
They were followed by National Bank, higher by nine paisa at Rs55.04 on 13m shares, Fatima Fertiliser, lower 19 paisa at Rs24.86 on 10m shares and Lafarge Pakistan, steady by four paisa at Rs2.79 on 9m shares.
FUTURE CONTRACTS: The actives list on this counter was again led by the National Bank, up 10 paisa at Rs55.33 on 3.189m shares followed by Arif Habib Corporation, higher by 37 paisa at Rs31.90 on 2.257m shares and Engro Corporation, higher by 58 paisa at Rs112.90 on 1.955m shares.
They were followed by Lotte Pakistan, up 18 paisa at Rs9.02 on 1.735m shares and D.G. Khan Cement, lower 29 paisa at Rs29.21 on 1.525m shares.

 

 

KSE gains 1,002 points in February

KARACHI, March 7: The shares at the Karachi Stock Exchange posted gains in February that rivalled a single month ‘pre-floor’ high of 2008. During the month, the KSE-100 index climbed by a steep 1,002 points or 8.45 per cent to close at 12,877.
Average daily volumes during the month also soared to 184.89 million shares, from 74.52 million shares the month ago.
According to the figures released by the National Clearing Company of Pakistan Limited (NCCPL), the net inflow of foreign funds in the equity market during February amounted to $8.17 million.
By end-Feb, net sales was worth $149.68 million and in the calendar year to end Feb net inflow was at $7.72 million. Analyst Salman Rasheed at brokerage Taurus Securities commented: “The buying activity in selective energy, banking, oil and fertilizer stocks on the back of renewed foreign interest was the main driver behind the positive movement in the Index.”
By March 7, the KSE benchmark had added another 368 points to13,245. The market took a breather on Wednesday, but a heavy net purchase of $3.18 million by foreigners during the day’s trading, was conspicuous by its presence.


MOHAMMED SALEEM MANSOORI

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