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Monday, 17 December 2012

STOCK MARKET UPDATE:18.12.2012



STOCKS
Karachi Stocks down 46.16 Points:
KARACHI, Dec 17: At the close of trading, the KSE-100 index was at 16798.93, down 46.16 points. 
(Today Market is 90.30 Up@ 11.05am)

December 17, 2012
 5 TOP GAINERS  &  LOOSERS:

Nestle Pakistan
Rs 149.00
Island Textile
Rs (28.03)
Unilever Food
Rs 100.00
Salfi Textile
Rs (7.82)
UniLever Pak
Rs 80.00
Murree Brewery
Rs (7.75)
Siemens Pakistan
Rs 25.85
Fazal cloth Mill
Rs (6.66)
Fazal Textile
Rs 11.67
Al Ghazi Tractors
Rs (6.04)
Stocks fall on economic concerns
KARACHI, Dec 17: The stock market ended lower after crossing the 16,900 points on Monday as cautious investors booked profits on macroeconomic concerns as the rupee hit a record low against the dollar, dealers said.
The KSE 100-share index ended 0.26 per cent, or 44.07 points, lower to 16,801.02 points. The index did make a fresh an all-time high at 16,914.23 but could not sustain the level.
Turnover decreased to 91.6 million shares compared with 129.5m shares traded on Friday. Trading value also fell by 1.5 billion to Rs2.52 billion from the previous value of Rs4.08bn.
Market capitalisation stood at Rs4.21 trillion from Rs4.22tr on Friday.
Investors remained on the sidelines due to continuous fall in the rupee value. Volumes also remained low as institutional activity was limited due to December closing,” said Samar Iqbal, dealer at Topline Securities Ltd.
The rupee made a record low at 98.35 against the dollar on Monday and investors are worried the local currency may hit Rs100 in the coming days.
“Fast losing currency values that continue to offer advantage to various categories of listed stocks, was overpowered by nervousness amongst the local stakeholders, reflective in a decline that is an inch away from pushing the local currency in triple digit against US dollar, along with fast changing political scene mainly in light of judicial notices, thus forcing the local liquidity on caution,” said Hasnain Asghar Ali from Escorts Capital.
Dealers also said the State Bank’s decision to cut its key policy rate by 50 basis points to 9.5 per cent had already been incorporated in the market and investors were indulging in “sell on facts.”
Samar Iqbal said buying in MCB Bank restricted the market’s losses and prevented it from a bigger fall. MCB Bank ended Rs2.82 higher at Rs210.69.
The energy sector also remained under pressure as heavyweight Oil and Gas Development Co ended Rs1.45 lower at Rs187.96 and Pakistan Oilfields fell Rs1.76 to close at Rs421.13.
Foreign investors bought shares worth a net $734,418 on Monday, compared with selling equities worth a net of $1.92m the previous trading session, bringing the total for the month to a net outflow of $2.24m.
Mutual funds were the major sellers in the market as they sold equities worth $3.05m.
The biggest gainer was Nestle Pakistan which rose Rs149 to Rs4,850, followed by Unilever Food which ended Rs100 higher at Rs4,300.
Island Textile witnessed the biggest loss for the day as it shed Rs28 to Rs1,024.71 followed by Salfi Textile which shed Rs7.82 to close at Rs148.69.
The KSE-30 index ended 0.20pc, or 27.53 points, lower at 13,610.06 and out of the 355 companies traded, the value of 129 increased, 204 decreased while 22 remained unchanged.
Among the 10-top traded stocks, Maple Leaf Cement fell 9 paisa to Rs14.83 on turnover of 14.75m shares, Tariq Glass rose Re1 to Rs21.05 on 5.16m shares and Jahangir Siddiqui Co Ltd shed 28 paisa to Rs16.7 on 3.6m shares.Fauji Cement ended lower by 4 paisa to Rs6.60 on 3.52m shares, Byco Petroleum fell 30 paisa to Rs11.01 on 2.8m shares and National Bank of Pakistan closed 42 paisa lower at Rs49.40 on 2.63m shares.
NIB Bank Ltd shed 3 paisa to Rs2.36 on 2.04m shares, DG Khan Cement fell 4 paisa to Rs54.36 on 2.04m shares and Pak Elektron gained 17 paisa to Rs9.18 on 1.91m shares.
Nishat Chunian Power closed 20 paisa lower to Rs20.96 on 1.7m shares.
Karachi stocks rise in cautious trading : KARACHI: Stocks rose on Friday, but the market remained dull as investors waited for a monetary policy announcement.
There was trading in banking stocks amid expectations of expected payouts and activity in cement stocks as traders anticipated a cut in interest rates from the state bank of Pakistan, said dealer Nausheen Kiran at Al-Hoqain Securities.
Around 174 companies closed higher while 158 closed lower, said a trader.
The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,845.09, up 0.23 percent or 38.51 points from the previous session.
Maple Leaf Cement rose 6.59 percent, or 0.93 rupee, to 15.05 per share while D.G. Khan Cement was up 0.29 percent, or 0.16 rupees, to 54.40 per share.
Stocks that fell included Jahangir Siddiqui, down 2.07 percent to 16.99 per share, and Engro Corp, which dropped 1.2 percent to 94.00 per share. (Reuters)

MOHAMMED SALEEM MANSOORI

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