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Tuesday, 15 May 2012

STOCK MARKET UPDATE: 15.05.2012

Stock


Karachi Stocks Up 114.33 Points:
KARACHI, May 15: The KSE-100 index was at 14343.10,
Up 114.33 points.(today 12.09 pm).


May 14, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Food

Rs 133.85

Nestle Pakistan

Rs (205.81)

Mithchells Fruit

Rs 9.60

Rafhan Maize

Rs (79.75)

Sanofi-Aventis

Rs 9.04

Colgate Palmolive

Rs (39.21)

Shezan Inter

Rs 7.81

Indus Dyeing

Rs 19.65

Clariant Pakistan

Rs 7.67

Engro Foods Ltd

Rs (3.48)


Karachi Stocks flat in cautious trading
KARACHI, May 14: Stocks closed flat on Monday, as investors were unable to shake the dread of the heavy plunge of 383 points on the KSE-100 index in the last two session of the previous week.
After oscillating widely between the low and high, the KSE 100-index settled at 14,228.77 points, showing a slight slip of 1.72 points or 0.01 per cent over the closing on the previous trading day.
Investors and brokers fretted not so much on the market fall, but on the huge dip of 57 per cent in volume of trade. In terms of both number of shares traded and their traded value, the investor mood was evidently to stay on the sidelines.
Volume stood at 101 million shares, down from 237 million shares on Friday and the value also slumped to Rs3.796 billion, from Rs8.789 billion.
While most group of investors were net sellers, foreign inflows again prevented a bigger fall with overseas investors going into an aggressive buy of net $4.52m on Monday. The ripple caused over the SECP clarification that the rules of ‘no questions to be asked’ would not apply to money invested in stocks, suspected of contravening anti-money laundering law, was also said to have set many new investors thinking.
However, most market experts said that the love-hate relationship with US and its implications were sitting heavily on investors’ mind.
Samar Iqbal, equity dealer at Topline Securities (Pvt) Ltd, commented that following the sizeable fall in equity values the previous week, investors remained cautious amid uncertainty on Pak-US relationship.
As a result of daily average volume fell to 100 million shares compared to last week’s volume 261 million shares. PTCL and cement stocks remained in the limelight while some selling was witnessed in oil stocks on the back of decline in international oil prices.
Ahsan Mehanti, analyst at Arif Habib Corp, said that the market closed bearish amid thin trade on cautious note ahead of federal budget, due next month.
Investor concerns over new restrictions on US aid and uncertainty over resumption of Nato supplies affected trading interest despite hopes
of early resolution of the problems.

The market capitalisation, surprisingly remained stayed put at around Rs3.635 trillion, signifying that large cap stocks had not moved much, either way and the belief was fortified by a rise in market cap based KSE-30 index by 37.02 points to 12,410.41 points.
The gaining stocks at 153 were ahead of the losers at 128 with 93 unchanged in total of 374 actives. Major losses were noted in Nestle Pakistan, down by Rs205.81 to Rs3,954.68 and Rafhan Maize down by Rs79.75 to Rs2,900. The biggest gainers for the day were Unilever Foods, trading SPOT, up by Rs133.85 to Rs3,316.85 and Mitchell’s Fruit Farms rising by Rs9.60 to Rs204.35.
Incidentally, among the ten top volume leaders, nine added values to their previous prices.
PTCL was up by 28 paisa to Rs16.36 on 11m shares, followed by Jah Sidd Co higher by 41 paisa to Rs16.19 on 9m shares. DG Khan Cement gained 44 paisa to Rs44.95 on 8m shares, Lotte PakPTA edged higher by one paisa to Rs9.54 on 6m shares, Engro Corporation added 38 paisa to Rs108.37 on 5m shares.
Engro Foods on 5m shares fell by Rs3.48 to Rs66.30 conceding from previous week’s gains. Fatima Fertiliser Co. edged higher by 5 paisa to Rs25.11 on 4m shares, IGI Investment Bank, the potential target of takeover rose by 49 paisa to Rs2.92 on 4m shares, JS Investments gained 16 paisa to Rs9.52 on 3m shares and Fauji Fertiliser, trading spot, rose 79 paisa to Rs120.76 on 2m shares.

Pakistani stocks, rupee end slightly lower; o/n rates flat
ISLAMABAD: Pakistani stocks ended slightly lower on Monday with investors exercising caution because of the uncertainty in ties between Islamabad and Washington, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.01 per cent, or 1.72 points, lower at 14,228.77, with a volume of 77.5 million, compared to 14,230.49 points on Friday.
“Investors remained cautious amid uncertainty on the Pakistan-US relationship. As a result, volumes fell,” said Samar Iqbal, a dealer at Topline Securities.
Top Pakistani civilian and military officials are expected to discuss the resumption of important overland supplies to Nato forces in neighbouring Afghanistan on Tuesday.
Islamabad suspended the routes after a raid by Nato forces killed 24 Pakistani soldiers in November last year. The episode plunged already troubled ties between Pakistan and the US to their lowest point since Islamabad joined the US-led ‘war on terror’ in 2001.
In the currency market, the Pakistani rupee ended slightly weaker at 90.80/91.00 to the dollar, compared to Friday’s close of 90.86/90.
The rupee has been supported by remittances, which rose 20.2 per cent to $10.88 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.05 billion in the same period last year.
In April, remittances totaled $1.14 billion.
Overnight rates in the money market ended at 11.90 per cent, the same level as Friday.





 
MOHAMMED SALEEM MANSOORI


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