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Sunday, 2 December 2012

STOCK MARKET UPDATE: 03.12.2012



STOCK
Karachi Stocks Up 56.38Points:
KARACHI, Dec 03: The KSE-100 index was at 16630.24, up 56.38 points.


November 30, 2012
 5 TOP GAINERS  &  LOOSERS:

Bata Pak
Rs 82.00
Unilever Pak
Rs (534.71)
Wyeth Pak
Rs 44.50
Nestle Pak
Rs (245.00)
Island Textile
Rs 44.18
Unilever Food
Rs (220.00)
Indus Dyeing
Rs 27.00
Sunrays Textile
Rs (8.59)
Sanofi Aventis
Rs 17.43
Millat Tractors
Rs (6.16)
KSE 100-Index closes at record 16,573pts
KARACHI: Local stocks hit a record high for the fourth day in a row on Friday, closing the week up nearly 3 percent, driven by a rally in cement shares and expectations that the central bank will ease rates next week.
The Karachi Stock Exchange's (KSE) benchmark 100-share index surged as high as 16,651.10 in intraday trading.
It closed at 16,573.86, up 0.28 percent or 46.78 points from the previous session.
"Investors remained bullish in cement stocks, while the textile sector also joined the bandwagon," said Samar Iqbal, an equity dealer.
"With the end of the year approaching, there was also renewed interest in the banking sector."
Fauji Cement rose 2.05 percent, or 0.14 rupees, to 6.98 per share, while National Bank was up 4.99 percent, or 2.37 rupees, to 49.87 per share.
Karachi Electric fell 0.72 percent, or 0.05 rupees, to 6.88 per share.
The market also found support from expectations that the State Bank of Pakistan will cut its discount rate with inflation under control.
The government will publish November inflation figures on Monday, while the central bank meets later in the week to decide on monetary policy.

KSE gains 336 points during the week
KARACHI: Karachi Stock Exchange (KSE) was seen buoyant all through the week making a handsome gain aggregating to 336 points.
The investors during this week also remained optimistic and traded briskly taking the KSE-100 index to peak at 16,573 points at closing.
Stock market analysts said that the investors took more interest in the cement and textile sectors due to their better financial results. Besides, the stock pundits also attributed the persistent upbeat in the market to investors’ expectations relating to further cut in discount rate by the Central Bank.
MOHAMMED SALEEM MANSOORI

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