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Tuesday, 15 May 2012

STOCK MARKET UPDATE: 16.05.2012








Stock


Karachi Stocks Up 84.90 Points:
KARACHI, May 15: At close of trading, the KSE-100 index was at 14313.67,up 84.90 points.

May 15, 2012
 5 TOP GAINERS  &  LOOSERS:


Nestle Pakistan

Rs 133.32

Unilever Food

Rs (120.85)

Rafhan Maize

Rs 100.00

Wyeth Pak Limited

Rs (33.15)

Colgate Palmolive

Rs 25.00

Dreamworld

Rs (25.85)

Indus Dyeing

Rs 10.92

PICT

Rs (8.74)

Attock Petroleum

Rs 6.53

Mitchells Fruit

Rs (8.35)


Karachi Stocks: recover 84 points
KARACHI, May 15: Shares scored gains on Tuesday dispelling some of the gloom that had enveloped the stock market since last week. The KSE-100 index rose by 84.90 points or 0.60 per cent to close at 14,313.67 points.
But more heartening to the investors, traders and brokers was recovery in volumes which increased by 50 per cent to 153 million shares from 101 million shares the earlier day. Traded value was even higher, by 66 per cent to Rs6.303 billion, from Rs3.796 billion.
Equity dealers said that the investors were waiting with baited breath to see how the issue of opening up the Nato supply route was resolved. Many believed it to be critical to Pakistan-US relationship and a matter that had the potential to determine the political and economic direction of the country.
Other than that the foreign investors turned net sellers of $3.49 million worth equity. This was quite a departure from their aggressive buy of net $4.52 million worth stocks on Monday. Yet, market experts said that the resilience of the market and a sustaining interest of local investors was manifest in the fact that almost all groups of local investors, institutions, banks, individuals, absorbed stocks that was pushed into the market by overseas investors.
The news flow included the government’s intention to raise tax-to-GDP ratio to 15 per cent by FY2015 and the unfulfilled wish of bringing agriculture into the tax net.
The meeting of the Economic Co-ordination Committee of the Cabinet was thought to approve the issuance of Privately Placed Finance Certificates (PPTFCs) of Rs82 billion for partial resolution of the power sector circular debt, that looms at Rs398 billion and has caused some civil commotion in big cities, particularly in Punjab.
It was disturbing, however, to note that the government was thought to be unlikely to contain revised fiscal deficit to 4.7 per cent.
Market capitalisation impr-oved by Rs21 billion to Rs3.656 trillion on Tuesday, fr-om Rs3.635 trillion the earlier day. The KSE-30 market-cap based index climbed by 90.79 points to 12,501.20, the two indicators showing that larger cap stocks also participated in the Tuesday trade.
Among the total of 371 active issues, 170 ended in green territory against 134 in the red. Another 67 stocks finished unchanged.The two top gainers for the day included Nestle Pakistan up by Rs133.32 to Rs4,088 followed by Rafhan Maize higher by Rs100 to Rs3,000. The biggest losses for the day were encountered by UniLever Foods, trading SPOT, down by Rs120.85 to Rs3,196 and Wyeth Pakistan conceding Rs33.15 to Rs770.
On the active list, PTCL once again dominated with the addition of another 62 paisa to Rs16.98 on 23m shares. Engro Foods gave up Rs2.63 to Rs63.67 on 21m shares, D.G. Khan cement lost Rs1.80 to Rs43.15 on 15m shares; Jah Sidd Co gained
40 paisa to Rs16.59 on 10m shares.

BankIslami, a dormant stock, closed limit up by Rs1 to Rs7.97 on 6m shares, Hub Power Company added Rs1.08 to Rs39.51 on 6m shares, Bank Alfalah shed 25 paisa to Rs17.17 on 6m shares, Engro Corporation, after hitting high of Rs111 and low of Rs107.70, closed with a minor addition of 4 paisa to Rs108.41.
Lotte PakPTA eased by 12 paisa to Rs9.42 on 4m shares and JS Investments firmed up by 18 paisa to Rs9.70 on 3m shares.


MOHAMMED SALEEM MANSOORI

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