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Thursday, 15 March 2012

DAILY STOCK MARKET UPDATE: 15.03.2012


Stock


Karachi Stocks Up 4.09 Points:

 KARACHI, Mar 15: The KSE-100 index was at 13364.75, up 4.09 points. (today 12.18 am)

March 14, 2012


 5 TOP GAINERS  &  LOOSERS:

Nestle Pakistan

Rs70.11

East-West Ins

Rs (12.37)

Island Textiles

Rs 10.19

Bata Pakistan

Rs (11.04)

Atlas Honda

Rs 5.32

National Foods

Rs (5.47)

Shell Pakistan

Rs 4.85

Fazal Cloth

Rs (3.56)

Al-Abbas Sugar

Rs 4.85

National Refinery

Rs (2.70)

 


Stocks partially retrieve overnight losses


KARACHI, March 14: The revival of demand on the blue chip counter on Wednesday halted the market decline as the final finish was on a higher note amid fairly active trading.
The KSE 100-share index recovered a good part of the overnight loss and was quoted higher by 77.02 points at 13,360.67, reflecting the strength of leading base shares such as OGDC, Pakistan Oilfields, Attock Petroleum and Shell Pakistan, MCB Bank and some others.
The strong rebound just in the back of an overnight correction reflects that investors are not inclined to go for longer recession at this stage, said analyst Ahsan Mehanti.
“The market is steadily heading toward its pre-determined level and the drive is expected to continue after due consolidation,” he said.
The weakness of some other blue chips, despite the announcement of higher earnings and payouts, notably National Bank, Engro Corporation and some others took their toll in the benchmark, which had already hit the four-year high at 13,553.11 on Monday.
“The underlying sentiment in the backdrop of overnight technical correction was a bit hesitant but strong foreign and local buying, notably on the oil counter drove leading bears out of the market,” analyst Samar Iqbal said.
He said a large daily turnover figure though shared by the undervalued shares reflected that there were buyers in the market but their interest remained confined to mostly risk-free areas.
Some of the companies whose board meetings are due during the next couple of sessions also remained in active demand though rose modestly higher amid large volumes.
Leading gainers were led by Nestle Pakistan and Island Textiles, higher by Rs70.11 and Rs10.19, while major losers included East West Insurance, and Bata Pakistan, off Rs12.37 and Rs11.04 respectively.
Traded volume rose to 347.208m shares from the previous 314m shares as gainers held a strong lead over the losers at 218 to 100, with 87 shares holding on to the previous levels.
The active list was led by JS Bank, up 33 paisa at Rs7.13 on 21m shares followed by NIB Bank, easy 18 paisa at Rs2.73 on 20m shares, Bank Alfalah, up 43 paisa at Rs16.46 on 19m shares, BankIslami Pakistan, up 57 paisa at Rs7.62 on 18m shares, TRG Pakistan, lower by 37 paisa at Rs3.99 on 15m shares, PTCL, higher by 70 paisa at Rs12.60 also on 15m shares and Arif Habib Corporation, lower by five paisa at Rs32.58 on 14m shares.They were followed by Samba Bank, steady 15 paisa at Rs3.10 on 14m shares, Bank of Punjab, higher by 28 paisa at Rs9.09 also on 14m shares and Azgard Nine, up 28 paisa at 7.54 on 11m shares.
FUTURES CONTRACTS:The active list was led by Arif Habib Corporation, lower by eight paisa at Rs32.73 on 2.218m shares, followed by Engro Corporation, lower by Rs1.30 paisa at Rs110.69 on 2.122m shares and DG Khan Cement, off 61 paisa at Rs30.40 on 1.514m shares.
They were followed by Attock Refinery, up 23 paisa at Rs130.51 on 1.348m shares and National Bank, easy by four paisa at Rs55.01 on 1.162m shares.
DEFAULTER COMPANIES:The active list on this counter was led by Kohinoor Industries, higher by 22 paisa at Rs1.53 on large volume of 0.411m shares followed by Brothers Textiles, up 25 paisa at Rs1.56 on 0.222m shares, Saritow Spinning, firm by 15 paisa at Rs1.66 on 34,000 shares, Dost Steels, steady by 34 paisa at Rs4.54 on 32,701 shares and Mukhtar Textiles, firm by three paisa at Rs0.56 on 54,569 shares.
BOARD MEETINGS:ICI Pakistan, Capital Assets Leasing and KSB Pumps, on March 15, Pak Arab Fertiliser, March 16, Pak-Suzuki Motors, Askari General Insurance, Network Microfinance Bank and Pakistan Tobacco Company, on March 19.

 

MOHAMMED SALEEM MANSOORI

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