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Thursday, 3 May 2012

STOCK MARKET UPDATE: 04.05.2012


Stock


Karachi Stocks Up 162.12 Points:
KARACHI, May 02: At close of trading, the KSE-100 index was at 14152.50, up 162.12 points.

May 3, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Pak

Rs 306.67

Island Textile

Rs (5.49)

Unilever Food

Rs 129.14

Ismail Industries

Rs (4.35)

Nestle Pakistan

Rs 30.45

Javedan Corp

Rs (3.62)

Bata (Pak)

Rs 17.06

Pak Gum

Rs (2.82)

Wyeth Pak

Rs 10.03

Pakistan Tobacco

Rs (2.20)

KSE 100-index shoots up by 277 points
KARACHI, May 3: Shares at the Karachi Stock Exchange (KSE) shot up at the opening bell and never turned around. The benchmark KSE-100 index soared 277.4 points or 2 per cent to close at 14,419.92 points.
Including the gains of 152.14 points the day earlier, the market scaled up 430 points, or three per cent, in the last two sessions. Foreigners were lead buyers for the second day running as they bought $5.12 million worth of shares on Thursday.
On Wednesday, net purchases made by foreigners were $8.18 million.
In the heat of the moment, shares climbed across-the-board with as many as 32 stocks hitting the upper circuit (maximum permitted daily increase of 5 per cent).
Samar Iqbal, equity dealer at Topline Securities, observed that bulk of the volume was witnessed in mid-cap stocks with PTCL followed by Lotte Pak, PTA and DGKC remaining in the limelight. In addition heavy-weight OGDC also gained Rs3 amid news flows regarding improved pricing of one of its major fields.
Ahsan Mehanti, analyst at Arif Habib Corporation said that the bullish activity continued at KSE in the pre-budget rally in stocks across the board with a record close on strong valuations.
Rise in local power tariff, higher global commodities and investors speculation ahead of a revised CGT announcement in the federal budget 2012-13 amid renewed foreign interest in oil and banking stocks played a catalyst role in bullish sentiments
at KSE.

The market witnessed buying euphoria, regardless of concerns over pending circular debt issues and increasing political noise.
The market value of all sha-res listed on the stock exch-ange (market capitalisation) rose by a hefty Rs110 billion to Rs3.684 trillion from Rs3.615 trillion the previous day.
The KSE-30 index comprising index-heavyweights rose 211.79 points to 12,578.11 points.
The stocks that gained value on Thursday stood at 247, way ahead of the declining 90 shares, the gain-loss ratio at 2.7 to 1.
Turnover also increased 20 per cent over the earlier day’s 246 million shares, to 294 million shares traded on Thursday.
Trading value jumped to Rs8.482 billion, from Rs6.213 billion.

While several analysts suggested caution at the dizzy height at which the benchmark had reached, the bulls were of the view
that rising stock prices on heavier turnover was a sign of a firm trend ahead.

The biggest gains were noted in UniLever Pak up by Rs306.67 to Rs6,706.67 and UniLever Foods rising by Rs129.14 to Rs2,712.08. Other high rising stock included Nestle Pakistan up by Rs30.45, Bata (Pak) was up by Rs17.06 and Wyeth Pak added Rs10.03 to its previous day value.
Losses were in tiny amounts with the biggest loss of Rs5.49 in Island Textile, which closed at Rs246.9, followed by Ismail Industries conceding Rs4.35 to Rs83.65. Other noticeable losers were Javedan Corporation that declined by Rs3.62, Pak Gum & Chemical shedding Rs2.82 and Pakistan Tobacco ceding Rs2.2.
Among the top 10 volume leaders save for KESC, at eighth place, which was down 39 paisa to Rs4.08 on 11 million shares, the rest of the nine finished in plus territory. PTCL with 26 million shares led the group with trading seen in 26 million shares, up 90 paisa to Rs14.42. It was followed by Lotte Pak adding 78 paisa to Rs9.32, D.G Khan Cement with 16 million shares in trading, rose by Rs1.57 to Rs43.41, Jah.Sidd.Co closed Re1 up to Rs16.93 on 14 million shares, Fatima Fertiliser
gained 90 paisa to Rs25.3 on 13 million shares.

JS Investments firmed up by 94 paisa to Rs11.56 on 12 million shares, Arif Habib Co up by Rs1.67 to Rs35.57 on 12 million shares, Bank Alfalah adding 42 paisa to Rs18.44 on 10 million shares and Azgard Nine up 12 paisa to Rs7.72 on 9 million
shares.

Foreign bulls bolster locals confidence at KSE

ISLAMABAD: Increased trading by foreign investors since Wednesday has boosted local confidence in the Karachi Stock Exchange, leading the index to close almost 2 percent up on Thursday, analysts said, ending at its highest level since May 2008. Foreign investors bought shares worth a net $8,177,045 on Wednesday according to the National Clearing Company of Pakistan. The Karachi Stock Exchange (KSE) benchmark 100-share index closed 1.96 percent, or 277.4 points, higher at 14,419.92 points, with a volume of 293.9 million shares. It hit an intra-day high of, 14,454.39. The previous high-point was May 13, 2008 when the KSE closed at 14,542.5. 'With foreign investors increasing their activity in the stock market, there was an injection of confidence and the

MOHAMMED SALEEM MANSOORI

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