STOCK MARKET UPDATE: 21.11.2012

STOCK:

Karachi Stocks Up 0.41 Points:
KARACHI, Nov 20: At the close of trading, the KSE-100 index was at 16251.79, up 0.41 points.

 (Today Market is 10.81 Down @ 1.44 Pm)

November 20, 2012

5 TOP GAINERS  &  LOOSERS:

UniLever Pak	Rs 99.00	Indus Dyeing	Rs (14.02)
Colgate Palmolive	Rs 55.00	Siemens Pak	Rs (10.00)
Rafhan Maize	Rs 50.00	IGI Insurance	Rs (6.67)
Bata Pak	Rs 35.01	Gillette Pak	Rs (6.03)
Millat Tractors	Rs 23.36	Murree Brewery	Rs (5.00)

Stocks end flat on profit-booking

KARACHI, Nov 20: Stocks ended flat on Tuesday, and volume rose close to a seven-month high, after hitting a fresh peak led by the Islamic banks and other attractive shares, but investors chose to square their positions towards the end of the day, dealers said.
The KSE 100-share index ended almost flat, just 0.41 point higher at 16,251.79 points but managed to hit a new historic high at 16,339.03 points. Turnover also increased to 330.35 million shares, compared with 245.67 million shares on Monday.
Trading value rose by Rs1.65 billion at Rs6.67 billion from Rs4.96 billion in the previous trading session and market capitalisation also increased to Rs4.062 trillion, compared with Rs4.056 trillion.
“With volumes at almost seven-month high of 330 million shares, investors were busy switching their positions from one stock to another,” said Samar Iqbal, a dealer at Topline Securities Ltd.
“With some profit taking seen in FCCL (Fauji Cement) and JSCL (Jahangir Siddiqui Co Ltd), investors began to build new positions in DGKC (DG Khan Cement) and MLCF (Maple Leaf Cement). Islamic banks were under limelight after central bank lifted minimum deposit rate.”
The State Bank of Pakistan abolished all previous circulars (issued during 2008-2012) regarding minimum rate on Islamic savings deposits. The minimum savings deposit held by Islamic banks and Islamic branches of the conventional banks which was set at 5 per cent in 2008 and later to 6 per cent in 2012 stands abolished.
Analysts expect this measure to improve earnings of Islamic Banks as they will eventually reduce their cost of funds.
“Benchmark managed to trade historic levels during intra-day but technical adjustment was witnessed in various volume leaders from previous sessions and day end profit booking which led the index to close almost flat,” said Hasnain Asghar Ali from Escorts Capital Ltd.
Foreign investors became active on Tuesday and turned into net buyers as they bought shares worth $3.7 million, after selling shares worth a net $159,155 on Monday bringing the total net buying for this month to $25.74 million. But banks were the major sellers with equity worth $1.75 million.
The market capitalisation based KSE 30-index also ended almost unchanged as it marginally rose 0.03 per cent, or 3.38 points, to close at 13,236.75 points.
Out of the 386 companies traded, the value of 205 increased, 155 decreased, while 26 remained unchanged.
The biggest gainers and losers were as follows: on the plus side, Unilever Pakistan was up by Rs99 to Rs9,600, followed by Colgate Palmolive, which was up by Rs55 to Rs1,290. On the declining side, Indus Dyeing lost Rs14.02 to Rs549.98 and Siemens Pakistan decreased by Rs10 to Rs740.
The list of volume leaders included mainly middle tier shares: Fauji Cement down 10 paisa to Rs6.77 on 70.96 million shares, Jahangir Siddiqui Co ltd fell 99 paisa to Rs15.87 on 26.28 million shares and Maple Leaf Cement ended 93 paisa higher at Rs13.95 on 23.97 million shares.
BankIslami rose 96 paisa to Rs9.64 on 16.49 million shares, Azgard Nine ended 47 paisa lower at Rs8.26 on 16.05 million shares and PTCLA rose 58 paisa to Rs18.26 on 14.41 million shares.
DG Khan Cement gained 27 paisa to Rs53.88 on 14.39 million shares. Nishat Chunian shed Rs1.22 to Rs30.10 on 10.82 million shares and Quice Food ended 73 paisa higher at Rs10.81 on 8.52 million shares.
Bank Alfalah gained 34 paisa to end at Rs16.44 on 7.35 million shares.

MOHAMMED SALEEM MANSOORI