STOCK MARKET UPDATE: 16.11.2012

STOCK:

Karachi Stocks Up 20.28 Points:
KARACHI, Nov 15: At the close of trading, the KSE-100 index was at 16140.80, up 20.28 points.  

(Today Market is 69.85 Up @ 11.31 am)

November 15, 2012

5 TOP GAINERS  &  LOOSERS:

Bata Pak	Rs 65.00	Sanofi-Aventis	Rs (9.00)
Island Textile	Rs 28.27	Atlas Battery	Rs (5.06)
Linde Pak	Rs 7.27	Sapphire Fibre	Rs (4.00)
Sunways Textile	Rs 6.45	Hino Pak Motor	Rs (3.76)
Attock Refinery	Rs 6.23	Exide Pak	Rs (2.50)

Stocks shed 22 points on late-selling

KARACHI, Nov 15: Shares at the Karachi stock market posted strong gains earlier in the day on Thursday with the KSE-100 index touching the day’s peak at 16,201.13 points.
However, in about the last hour investors decided to take profit so as to limit the index rise by 0.14 per cent or 22.55 points to 16,143.07 points. At the lower side, the index found floor by losing only around 20 points from the Wednesday’s closing.
Traders said that the tone was firm.
Market capitalisation increased slightly to Rs4.037 trillion, from Rs4.027 trillion on Wednesday.
Turnover witnessed a steep rise of 64 per cent to 236 million shares, from 144 million shares traded on Wednesday. But as activity remained largely skewed towards second and third tier stocks, the trading value improved by only 21 per cent to Rs4.953 billion, from Rs4.101 billion the previous day.
The low-priced cement stocks helped to generate healthy volumes as around 30 per cent of the day’s turnover constituted fresh buying in Fauji Cement and Maple Leaf Cement.
Also half of the volume leaders for the day comprised cement stocks. Fertiliser sector witnessed profit taking due to lower fertiliser off-take numbers.
Hasnain Asghar Ali at Escorts Capital observed that the slide in the regional and international indices pushed investors in the local market to take day-end profit in the closing hour, thus forcing the benchmark to close with clipped gains.
But investors did not freak away on various political, law and order and financial issues. Among local institutions, banks were only the major sellers of equity worth $3.14 million.
Foreign investors bought stocks in the net sum of $1.05 million taking the current month’s aggregate net purchases to $20.51 million.
The news flow was unimpressive. The MSCI, a leading provider of investment decision support tools worldwide, announced the results of the November 2012 Semi-Annual Index Review for MSCI Equity Indices with no major change for Pakistan. The local market had been lobbying for a return to the emerging market category from the frontier market.
Other than that, the Federal Board of Revenue was said to have provisionally collected Rs508.8 billion during July-October 2012-13 against the target of Rs599.3 billion, reflecting a shortfall of Rs90.5 billion.
Also economy managers were concerned over pace of depletion of foreign exchange reserves as the situation was feared to aggravate after heavy repayments to the IMF in the third quarter (Jan-March) of the current fiscal year.
Among the 353 stocks that came up for trading on Thursday, 206 ended in the plus signs, 120 in minus and 27 stocks remained unchanged.
Largest gain was posted by Bata (Pak), up by Rs65 to Rs1385, followed by Island Textile extending its earlier day’s gains by Rs28.27 to Rs593.76. Losses were generally in smaller amounts with the biggest loss for the day noted in Sanofi-Aventis, down by Rs9 to Rs316 and Atlas Battery losing Rs5.06 to Rs224.04.
In the top-10 volume leaders list, all but D.G. Khan Cement added values to their previous prices. Fauji Cement led the volume leaders with trading in 39 million shares, up by 26 paisa to Rs6.83.
Maple Leaf Cement followed with 30 million shares traded higher by 75 paisa to Rs12.09. Azgard Nine rose by 72 paisa to Rs7.92 on 23 million shares; Byco Petroleum closed at the upper limit of Re1 to Rs9.70 on 18 million shares; NIB Bank edged higher by 8 paisa to Rs2.28 on 11 million shares; Jahangir Sidd Co added 2 paisa to close at Rs16.57 on 10 million shares.
The cement share, Lafarge Pakistan was up 7 paisa to Rs5.46 on 9 million shares and Dewan Cement was firmer by 17 paisa to Rs5.03 on 4 million shares. The textile giant, Nishat Mills rose by 95 paisa to Rs60.51 on 4 million shares, while D.G. Khan Cement shed 11 paisa to Rs52.92 on 5 million shares.
KSE gains :Blue chip stocks cement : KARACHI: Local capital market closed higher on Thursday, led by higher prices in cement stocks and trading in blue chip companies.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.14 percent, or 22.55 points, higher at 16,143.07.
The expected resumption of gas supply to fertilizer industry helped boost buying despite concerns over the rupee's downward trend, said a trader.
Fauji Cement rose 4.26 percent, or 0.28 rupees, to 6.85 per share, while Maple Leaf Cement rose 6.26 percent, or 0.71 rupees, to 12.05 per share. (Reuters)

MOHAMMED SALEEM MANSOORI