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Monday, 22 October 2012

LATEST STOCK MARKET UPDATE: 23.10.2012



STOCK:
Karachi Stocks Up 56.42 Points:
KARACHI, Oct 22: At the close of trading, the KSE-100 index was at 15849.17, up 56.42 points.
(Today Market is 61.46 Up @ 11.18 am)

October 22, 2012
5 TOP GAINERS  &  LOOSERS:

Unilever Food
Rs 120.00
UniLever Pa
Rs (290.80)
Bata (Pak) Ltd
Rs 65.59
Mithchells Fruit
Rs (5.65)
ColgatePalmolive
Rs 50.30
Thal Ltd
Rs (4.99)
National Foods
Rs 17.13
Packages Ltd
Rs (4.41)
Indus Dyeing
Rs 14.47
Fazal Cloth Mill
Rs (4.00)

Stocks gain 55 points in cautious trading
KARACHI, Oct 22: Stocks ended higher on Monday led by buying in middle tier shares but volume was thinner than the previous trading sessions as cautious investors hesitated from taking new positions due to a shorter working week because of Eidul Azha.
The KSE 100-share index rose 0.35 per cent, or 55.88 points, to close at 15,848.63 points. Volume fell to 149.12 million shares, compared with 208.92 million shares traded on Friday.
Trading value stood at Rs4.86 billion, compared with the previous trading session’s Rs5.39 billion but market capitalisation increased to Rs3.96 trillion from Rs3.94 trillion on Friday.“Investors indulged in value buying on dips,” said Hasnain Ashgar Ali of Escorts Capital Ltd.
Stocks such as Karachi Electric Supply Company, Jahangir Siddiqui and Azgard Nine attracted investor interest.
“Low priced stocks like KESC, JSCL and ANL remained investors’ favorites. Engro Foods also saw high volatility with volume of 8.5 million shares,” said Samar Iqbal, dealer from Topline Securities Ltd.
The cement sector underwent some profit-taking as it had been increasing in the last few sessions however overall losses were restricted due to buying in the energy sector.
Buying was witnessed in the exploration and production shares. Blue chip Oil and Gas Development Co Ltd rose Rs2.47 to Rs117.74, Pakistan Oilfields gained 84 paisa to Rs406.81 and Pakistan Petroleum Ltd ended 53 paisa higher at Rs173.53.
There was selling in Fauji Fertiliser as it ended Rs1.26 lower at Rs114.63 despite announcing a result that was within market expectations.
Fauji Fertiliser reported a net profit of Rs3.5bn for the third quarter of calendar 2012, (earning per share of Rs2.72), reflecting a decline of 39 per cent, year-on-year. For nine months of 2012, the company posted a net profit of Rs13.8 billion, (EPS of Rs10.84) but the result was accompanied by interim dividend of Rs2.50 per share, taking the total payout for nine months of 2012 to Rs10.50 per share.
Foreign investors bought shares worth a net $554,670 on Monday, compared with Friday’s $1.82 million bringing the total net buying for this month to $28.66 million.
Individuals were the major buyers of equity with $1.95 million.
The market capitalisation based KSE 30-index rose 0.20 per cent, or 26.37 points, to close at 12,973.70 points.
Out of the 326 companies traded, the value of 175 increased, 133 decreased, while 18 remained unchanged.
Unilever Food witnessed the highest increase in share value as it gained Rs120 to Rs3,690 followed by Bata (Pak) Ltd, which was up Rs65.59 to Rs1,377.56. But Unilever Pakistan Ltd saw the largest fall as it shed Rs290.80 to Rs9,709.20, followed by Mitchell’s Fruit which shed Rs5.65 to Rs379.70.
The list of top 10 volume leaders was topped by KESC, which rose 72 paisa to Rs6.25 on turnover of 19.73 million shares, Jahangir Siddiqui Co gained 64 paisa to Rs14.93 on 15.67 million shares and Azgard Nine ended 5 paisa higher at Rs6.78 on 9.21 million shares.
Engro Foods closed Rs1.58 lower at Rs70.50 on 8.47 million shares, DG Khan Cement shed Rs1.11 to Rs51.22 on 6.40 million shares and Nishat Mills ended up Rs1.42 at Rs63.55 on 6.11 million shares.
JS Investments Ltd rose 36 paisa to Rs9.44 on 5.87 million shares, Lafarge Pakistan fell 24 paisa to Rs5.62 on 4.61 million shares and Askari Bank gained 32 paisa to Rs16.83 on 3.56 million shares.
Engro Corp ended Rs1.10 higher at Rs96.97 on 3.47 million shares.
KSE up; rupee, overnight rates flat
KARACHI: Stocks closed higher on Monday, driven by optimism over upcoming earnings announcements, traders said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.35 percent, or 55.88 points, higher at 15,848.63, on total volume of 149.04 million shares.
In the currency market, the Pakistani rupee ended at 95.42/95.47 to the dollar, compared to Friday's close of 95.35/95.45.
Overnight rates in the money market remained flat at 10 percent. (Reuters)

MOHAMMED SALEEM MANSOORI

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