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Thursday, 28 June 2012

STOCK MARKET UPDATE:29.06.2012

STOCK:


Karachi Stocks Up 8.57 Points:
KARACHI, June 28: At the close of trading, the KSE-100 index was at 13807.69, up 8.57 points.
June 27, 2012
5 TOP GAINERS  &  LOOSERS:

Rafhan Maize
Rs 94.34
UniLever Pak
Rs (280.06)
Siemens Pakistan
Rs 35.91
Philip Morris
Rs (9.25)
Bata Pak
Rs 19.92
Pak Suzuki Motor
Rs (3.59)
Nestle Pak
Rs 15.32
Clariant Pak
Rs (3.00)
Colgate Palmolive
Rs 14.49
Jubilee Life
Rs (2.97)

Karachi Stocks turn flat after overnight rally
KARACHI, June 28: Stocks ended flat on Thursday, with the KSE-100 index posting an insignificant gain of 6.30 points to close at 13,805.42 points.
Most traders sat idle all through the day as the volume again dipped to 63 million shares of the trading value of Rs2.304 billion, compared to 94 million shares valued at Rs2.816 billion that changed hands a day ago.
Market capitalisation added Rs2 billion with the value of all shares traded at the exchange at Rs3.520 trillion, against Rs3.518 trillion the previous day.
Foreign investors sold net $0.80 worth equity. Traders said that as it marked the second last session of the current financial year, off-market transactions were heavy as various market participants strived to balance their portfolio so as to paint a pretty picture on the balance sheet at June 30.
Also, retail and institutional investors remained on the sidelines in the absence of triggers. No concrete news on the progress of Pak-US negotiations to the end of blockade of land route for Nato supplies through Pakistan was a depressant.
Much of the euphoria over the quick solution to the issue evaporated and investors decided to wait and watch. Volatility was however seen as there was a gap of around 100 points between the day’s low at 13,785.29 points and high at 13,880.58 points.
Samar Iqbal, equity dealer at Topline Securities, acknowledged that the share prices showed mixed performance on Thursday as most investors remained on the sidelines in the absence of any major trigger.
Bearish trend in the global market also forced investors to remain cautious. Selected activity was seen in fertiliser, cement and banking stocks in anticipation of better June quarter ending results.
Hasnain Asghar Ali said that low volumes yet high volatility was witnessed throughout the session. Stocks on Oil and gas Exploration & Production (E&P) came up for selling from the local circuits mainly on stock swapping as the local portfolios
were seen anxious for a balanced portfolio to mark the fiscal year end.

The strategy was prominent even in the fertiliser stocks, where shares reckoned to be safe were accumulated by long-term investors. The upcoming session on Friday would mark the last of the current fiscal and the week, which could see high degree of volatility as the stocks displaying consistency in earnings and payouts are likely to attract liquidity.
The KSE-30 index shed 1.56 points to close at 11,932.21 points. Among the 339 active stocks on Thursday, 127 finished in plus columns while 113 in the minus with 99 remaining unchanged.
Major gainers for the day were Rafhan Maize Products, up by Rs94.34 to Rs3,144.34 and Siemens Pakistan higher by Rs35.91 to Rs763.86.
On the losing side, UniLever Pak slipped by Rs280.06 to Rs7,018.19, followed by Philip Morris Pak down Rs9.25 to Rs175.76.
All the ten volume leaders were either up or down by less than a rupee, which pointed to churning, possibly by retail investors.
BankIslami up by 95 paisa to Rs10.30 on 6m shares, Soneri Bank down 7 paisa to Rs7.49 on 5m shares, Summit Bank slid 2 paisa to Rs3.20 on 5m shares, PTCL was lower by 6 paisa to Rs13.92 on 4m shares, D.G. Khan Cement added 18 paisa to
Rs40.11 on 4m shares, Fauji Fertiliser edged higher by 9 paisa to Rs111.94 on 3m shares.

Fauji Bin Qasim showing increase by one paisa to Rs40.93 on 2m shares, Engro Foods minus 9 paisa to Rs65.46 on 2m shares, Engro Corporation lightly up by 2 paisa to Rs103.53 on 2m shares and Jah Sidd Co, down by a paisa to Rs12.64 on 2m shares.
MOHAMMED SALEEM MANSOORI

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