Follow by Email

Thursday, 2 August 2012


Karachi Stocks Down 44.75 Points:
KARACHI, Aug 03: The KSE-100 index was at 14685.92, down 44.75 points.  (today 11.46 am)

August 02, 2012

UniLever Pak
Rs 300.00
Island Textile
Rs (10.00)
Colgate Palmolive
Rs 57.35
ICI Pakistan
Rs (5.69)
Unilever Food
Rs 40.00
Philip Morris
Rs (5.22)
Siemens Pakistan
Rs 37.92
Akzo Nobel Pak
Rs (4.39)
Shezan Int’l
Rs 10.74
Rs (3.71)

Karachi Stocks witness consolidation
KARACHI, Aug 2: The Karachi share market witnessed consolidation on Thursday with the KSE-100 index adding 13.81 points to close at 14,730.67 points.
The benchmark settled in the positive zone, after oscillating between the high at 14,795.43 points and low of 14,714.94 points.
Turnover in terms of both volume and value stood at about the same level as the earlier day.

The positive development was buying interest by the foreign investors, represented in net inflow of $1.23 million during the day.
Among the local groups, mutual funds bought shares worth $1.80 million.
Samar Iqbal, equity dealer at Topline Securities, stated that the market consolidated after rising for two consecutive days. Profit taking was seen in DG Khan Cement after its share price hit a 4-year high at Rs48.10.
Banking stocks came down as investors believed that decline in interest rates would hurt their margins.
Ahsan Mehanti at Arif Habib Corp stated that stocks closed higher amid institutional interest in blue chip stocks ahead of major earning announcements amid hopes for cut in SBP policy stance due to be announced on August 10.
Pakistan-US accord signing on Nato supplies, fall in CPI for July 2012 to 9.6 per cent, strong earnings outlook and release of $1.12 billion by US against services to coalition forces played a catalyst role in bullish sentiments despite concerns for circular
debt in the energy sector and power outrages for industrial sector.Hasnain Asghar Ali, COO at Escorts Capital said that the benchmark closed in the positive zone on the back of gains attained by E&P stocks mainly on earnings and payout outlook.

The cement stocks witnessed technical adjustment. Higher volumes on marginal losses kept the punters poised to take short term gains. Timely dispatch of CSF by US and further concessionary measures to follow, along with optimism regarding benchmark discount rates kept the local investors ready for accumulation.
Foreign selling in the stocks the previous day due to supply concerns, high profile judicial hearings and volatile political conditions, however, restricted participation. The ability of the local equities to invite accumulation on intra-day dips mainly on technical adjustment or sector and stock swapping was likely to be undertaken by the financial institutions. It was hoped to keep shares going up, but the shorter session of the week may witness mild adjustment.
The positive inflation numbers which touched a 31-month low level and the urea off-take for the first half of current year 2012 (January to June) which stood at 2.75 million tons, up by 3 per cent on yearly basis and the off-take in June 2012 alone at 1.03 million tons accounting for 37 per cent of period’s sales had good impact on investor sentiments.
The KSE-30 index was up by 7.71 points to 12,719.86 points.
Turnover slipped lightly to 103 million shares on Thursday, from 105 million shares traded a day ago. Trading value rose to Rs4 billion, from Rs3.4 billion on Wednesday.
A good number of 307 stocks came up for trading with 165 ending losers; 112 gainers and 30 keeping intact at their previous levels.
Market capitalization also stood static at Rs3.8 billion, same as the day earlier.
Among the volume leaders, DG Khan Cement lost 67 paisa to Rs46.76 on 15m shares; Maple Leaf Cement gained 51 paisa to Rs6.82 on 8m shares; Jah.Sidd.Co was up 9 paisa to Rs15.45 on 5m shares; Fauji Cement shed 16 paisa to Rs6.10 on 5m shares; Lafarge Pakistan slid 15 paisa to Rs4.91 on 5m shares; Bank Al-Falah slipped 36 paisa to Rs18.42 on 4m shares; Soneri Bank edged higher by 7 paisa to Rs8.56 on 4m shares; Fauji Fertilizer declined by 34 paisa to Rs117.85 on 3m shares; Hub Power Company added 98 paisa to Rs45.17 on 3m shares and KESC edged higher by 4 paisa to Rs3.94 on 3m shares.

No comments:

Post a Comment