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Thursday, 29 March 2012

STOCK MARKET UPDATE: 30.03.2012




Stock



Karachi Stocks Down 19.49Points:
KARACHI, Mar 28: At close of trading, the KSE-100 Index was at 13272.89, down 19.49 points.
 March 29, 2012
5 TOP GAINERS  &  LOOSERS

 

Sapphire Fiber

Rs 5.53

Unilever Pakistan

Rs (109.84)

Gatron Industries

Rs 3.82

Bata Pakistan

Rs (28.10)

MCB Bank

Rs 3.54

Indus Dyeing

Rs (21.36)

Hino Pak

Rs 2.74

Nestle Pakistan

Rs (15.05)

Ghani Glass

Rs 2.25

Mitchell’s Farms

Rs (9.57)

 

Equities suffer mild pruning

KARACHI, March 29: The share market on Thursday suffered a mild reaction as a section of investors took profits at the inflated levels but limit-gain by National Bank averted major fall in the benchmark KSE 100-index.
The KSE 100-share index finished with a modest fall of 16.31 points but ended well above the four-year high of 13,560.00 after early having tested 13,641.89, indicating that the pre-April buying euphoria was not overdone.
The weakness of the leading base shares in the oil, fertiliser and some other sectors worked against the underlying sentiment but strong buying in the cement and some low-priced bank shares, notably BankIslami Pakistan, Askari Bank and National Bank neutralised the fallout on the broader market.
It was judicious blend of alternate bouts of buying and selling, which in turn gave the needed depth to the stock market in terms of record volumes, said an analyst.
However, it was too early to speculate that leading investors shifting positions from the high-profile issues to the low-priced ones and heavy daily volumes did not reflect that phenomenon, he added.
“The level of 14,000 or beyond is sure to be hit,” predicts another analyst “but whether or not it will be sustained will be guided by the some of the trading rules under the new CGT”.He said the pre-launch performance of the market and the investor enthusiasm reflected that leading brokers might have found some cues of the provisions and were adjusting positions according to them.
Minus signs dominated the list under the lead of Unilever Pakistan and Bata Pakistan, off by Rs109.84 and Rs28.10, while gainers were led by inactive shares such as Sapphire Fibre and Gatron Industries, up Rs5.53 and Rs3.82 respectively.
Traded volume fell to 344.578m shares and losers held a lead over the gainers at 198 to 123, with 106 shares remaining unchanged at the previous levels.
The active list was topped by Lafarge Pakistan, up 42 paisa at Rs4.38 on 50m shares followed by JS & Co, lower by Rs1.04 at Rs21.35 on 26m shares, Pace Pakistan, steady by 23 paisa at Rs3.13 on 24m shares, Bank of Punjab, lower 32 paisa at Rs10.15 on 21m shares, National Bank, higher by Rs2.15 at Rs45.21 on 17m shares, BankIslami Pakistan, higher by Re1 at Rs8.06 also on 17m shares and Azgard Nine, off 89 paisa at Rs8.43 on 14m shares.
They were followed by D.G. Khan Cement, steady five paisa at Rs34.64 on 12m shares, JS Bank, firm by 15 paisa at Rs6.58 on 11m shares and Askari Bank, up 32 paisa at Rs14.01 on 10m shares.
FUTURE CONTRACTS: Both the settlements of National Bank led the list of actives under the lead of April delivery, up Rs2.15 at Rs45.69 on 2.470m shares followed by its ruling delivery, also rose by the same amount at Rs45.18 on 1.200m shares.
They were followed by D.G. Khan Cement, easy by seven paisa at Rs34.90 on 2.278m shares, Arif Habib Corporation, lower by 56 paisa at Rs31.94 and Engro Corporation, lower Rs1.05 at Rs101.98 on 0.777m shares.
DEFAULTER COMPANIES: The active list on this counter was led by Genertech Power, lower 14 paisa at Rs1.49 on 0.447m shares followed by Dost Steels, steady by seven paisa at Rs2.70 on 0.120m shares and Kohinoor Industries, easy by nine paisa at Rs1.64 on 49,858 shares.
Other actives included Kohinoor Power, up 30 paisa at Rs2.90 on 51,805 shares, Quice Foods, easy by 23 paisa at Rs5.00 on 30,100 shares and Dadabhoy Cement, steady by one paisa at Rs1.73 on 29,963 shares.
DIVIDEND: Pakistan reinsurance Corporation, cash 30 per cent, Alfalah GHP Cash Fund, interim 0.8339 per cent, PICIC Insurance and ALICO, nil for the year ended Dec 31, 2011.

MOHAMMED SALEEM MANSOORI

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