DAILY STOCK MARKET TREND: 09.09.2011

Stock

Karachi Stocks Up 18.65 Points:
KARACHI, Sept 08: At close of trading, the KSE-100 index was at 11348.42, up 18.65 points

September 08, 2011

5 TOP SCRIPTS GAINER  AND LOOSER

Nestle Pakistan Rs 23.87 Millat Tractors Rs (12.88) UniLever Pak Rs 16.82 Bhanero Tex Rs (12.70) Colgate Palmol Rs 8.50 Exide (Pak) Rs (7.07) Pak Oilfields Rs 7.00 Atlas Battery Rs (4.73) ICI Pakistan Rs 6.53 BOC Rs (3.00)

KSE 30 – Shares Index	Previous 10,895.16, Thursday’s 10.936.48, plus 41.32 points
KSE 100 – Shares Index	Previous 13,329.77, Thursday’s 11,348.42, plus 18.65 points.
MARKET CAPITALIZATION	Previous Rs.3,000.154bn, Thursday’s Rs3,005.240bn, plus Rs5.086bn.
VOLUME LEADERS	Lotte Pakistan 10.343m, National Bank 9.022m, Fatima Fertiliser 7.248m, Arif Habib Corpn 5.177m, Azgard Nine 4.612m shares.
TOTAL VOLUME	90.931m shares
TOTAL	TONE: firm, total listed 637, actives 340, inactives 297, plus 148, minus 91, unchanged 101

Stocks gain 18 points at 11,348

KARACHI, Sept 8: The share market on Thursday maintained its upward thrust on steady inflow of investment buying on selected counters aided by reports of higher corporate earnings and payout under the lead of Hub-Power Company.
The market’s steady posture was also evident from the KSE 100-share index, which though failed to sustain the earlier run-up to 11,416.95 but ended adding another 18.65 points to the overnight total at 11,348.42.
Leading analysts attributed various reasons to the market’s current positive stance but all were united that the prevailing optimism has sound reasons behind it.
Analyst Samar Iqbal said late selling in the index heavy-weight, OGDC, was chipped away 37 points from the benchmark but pre-result buying in Attock group of companies allowed it finish with a modest extended gain.
“The creeping rallies reflect that investors are determined to maintain the rising tempo on the strength of higher corporate earnings,” said a leading analyst Faisal Abbas who added that “the current rally may not be that elusive as it is backed by more
than one positive news.”
Analyst Ahsan Mehanti said the perception of peace in the city and some positive developments on the political front continued to inspire fresh covering purchases and indications are that the current bull-run is expected to be sustained in the
coming sessions also.
A cash dividend of Rs3.00 per share and EPS of Rs4.82 by the Hub-Power Company was well-received in the market and so did anticipated higher earnings by Pakistan Oil-fields.
Much of the activity remained confined to Engro Corporation, which came in for active short-covering on reports that its gas problem has been resolved after the supplies were resumed.
National Bank again came in for strong support and firmly maintained its rising tempo as investors continued to build-up long positions at the current lower levels.
Leading gainers were led by Nestle Pakistan and Unilever Pakistan, up Rs23.87 and 16.82 while prominent losers included Millat Tractors and Bhanero Textiles, off Rs12.88 and 12.70, respectively.
Traded volume rose to 90.931m shares from the previous 86m shares and gainers maintained a strong lead over the losers at 148 to 91, with 101 shares holding on to the last levels.
The active list was led by Lotte Pakistan, firm by 39 paisa at Rs12.43 on 10m shares followed by National Bank, higher by Rs1.11 at 43.83 on 9m shares, Fatima Fertiliser, steady 20 paisa at 17.30 on 7m shares, Arif Habib Corporation, up Rs1.27 at
26.84 on 5m shares, Azgard Nine, firm by 25 paisa at 5.33 on 5m shares, Hub-Power, steady 23 paisa at 39.97 on 3.380m shares, and Pakistan Oilfields, sharply higher by Rs7.00 at 370.83 on 3m shares.
Engro Corporation followed them, higher by Rs3.76 at 136.16 on 3m shares, J S & Com firm by six paisa at 5.95 also on 3m shares and Descon Oxychem, easy by seven paisa at 6.52 also on 3m shares.
FUTURE CONTRACTS: National Bank came in for renewed support and was marked up by 96 paisa at Rs44.06 on 2.333m shares followed by Engro Corporation, higher by Rs3.47 at 135.03 on 1.148m shares, and Pakistan Oilfields, higher by Rs6,29 at 371.60 on 0.688m shares.
They were followed by Attock Refinery, higher by Rs4.35 at 124.34 on 0.515m shares and Azgard Nine, up 24 paisa at 5.37 on 0.490m shares.
DEFAULTER COs: Japan Power again led the list of actives, easy by one paisa at 0.99 on 0.109m shares followed by Invest Bank, steady by two paisa at 0.30 on 25,917 shares and Dewan Autos, off 34 paisa at 0.76 on 6,005 shares.

Mohammed Saleem Mansoori