STOCK MARKET UPDATE: 17.10.2012

STOCK:

Karachi Stocks Down 63.54 Points:
KARACHI, Oct 16: At the close of trading, the KSE-100 index was at 15672.99, Down 63.54 points. 

 (Today Market is 33.44 Down @ 10.55 am)

October 16, 2012

5 TOP GAINERS  &  LOOSERS:

Bata (Pak) Ltd	Rs 35.00	Nestle Pakistan	Rs (275.00)
Siemens Pakistan	Rs 24.49	Rafhan Maiz Pro	Rs (100.00)
Shezan inter	Rs 21.49	UniLever Pak	Rs (41.66)
Indus Dyeing	Rs 13.05	Colgate Palmolive	Rs (25.00)
National Foods	Rs 12.22	Mitchells Fruit	Rs (19.21)

Karachi Stock: Stocks falter amid lack of triggers
KARACHI, Oct 16: Trading volume remained dull at the country’s main stock index on Tuesday as cautious investors kept to the sidelines, hesitant to take fresh positions amid lack of any positive triggers, dealers said.
The KSE 100-share index ended 0.46 per cent, or 72.60 points, lower at 15,674.30 points. Volume stood at 82.83 million shares, compared with 81.89 million shares traded on Monday and 113.2 million shares on Friday.
Trading volume rose to Rs3.04 billion, compared with Rs3.03 billion the previous day. Market capitalisation totaled Rs3.93 trillion from Monday’s Rs3.96 trillion.
“Market participation remained on the lower side because investors are cautious of taking new positions as the index is still close to its record high,” said Ahfaz Mustafa, director at Ismail Iqbal Securities Ltd.
The market hit an all-time high at 15,981.30 on Friday last. “However support is visible in some equity scrips that yield a substantially higher dividend yield than the discount rate and the upcoming result season should also increase investor sentiment.”
Stocks such as Fauji Fertiliser were recommended which closed 41 paisa higher at Rs115.46.The cement sector, energy sector and textile sector remained mainly under pressure but dealers expect demand for cement share to rise in anticipation of healthy corporate earnings which are due to be announced in the coming days.
“Low volume and lacklustre activity pushed the benchmark in the red zone, led by massive selling in Engro,” said Hasnain Asghar Ali, COO at Escorts Capital.
Engro Corp shed Rs4.18 to close at Rs95.39.
Foreign investors bought shares worth a net $1.38 million, compared with $1.39 million on Monday, bringing the total net buying for this month to $24.47 million.
Mutual funds were the major sellers of equity with $1.44 million.
The market capitalisation based KSE 30-index fell 0.51 per cent, or 66.11 points, to close at 12,861.11 points.
Out of the 324 companies traded, the value of 117 increased, 186 decreased, while 21 remained unchanged.
Bata (Pak) Ltd witnessed the highest increase in share value as it gained Rs35 to Rs1,190 followed by Siemens Pakistan which was up Rs24.49 to Rs750. But Nestle Pakistan Ltd saw the largest fall as it shed Rs275 to Rs5,225, followed by Rafhan Maize which shed Rs100 to Rs3,700.
The list of top 10 volume leaders was topped by PTCLA, which fell 51 paisa to Rs19.24 on turnover of 10.25 million shares, Engro Corp shed Rs4.18 to Rs95.39 on 4.51 million shares and Nishat Mills Ltd ended 71 paisa lower at Rs58.02 on 4.1 million shares.
Maple Leaf decreased marginally by one paisa to Rs9.31 on 3.05 million shares, DG Khan Cement ended 58 paisa lower at Rs48.90 on 2.94 million shares and Lafarge Pakistan fell 6 paisa to Rs5.62 on 2.31 million shares.
NIB Bank Ltd shed 5 paisa to Rs2.27 on 2.31 million shares, Jahangir Siddiqui Co ended 15 paisa lower at Rs13.41 on 2.26 million shares and Azgard Nine was 3 paisa lower at Rs6 on 2.13 million shares.
However Pakgen Power rose 42 paisa to Rs17.01 on turnover of 2.07 million shares.

KSE 100-share:

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.31 percent, or 48.54 points, higher at 15,756.90 on total volume of 81.796 million shares.

Stocks closed slightly higher on Monday but investors were mostly waiting for upcoming earnings announcements, traders said.

"The market recovered slightly today but overall the volume was down because the market are waiting for some positive earnings figures," said a dealer at Topline Securities.

"There was some activity in cement stocks."

In the currency market, the Pakistani rupee ended slightly stronger at 95.34/95.38 compared to Friday's close of 95.48/95.68 to the dollar.

Overnight rates in the money market closed at 8.00 percent compared to Friday's 7.00 percent. (REUTERS)

MOHAMMED SALEEM MANSOORI