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Monday, 31 October 2011

DAILY STOCK MARKET UPDATE: 01.11.2011


Stock

Karachi Stocks Up 302.10 Points:
KARACHI, Oct 31: At close of trading, the KSE-100 index was at 11863.77, up 302.10 points

October 31, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:
Int. Ind.Ltd.
Rs 32.89
UniLever Pak Ltd
Rs (97.34)
Millat Tractors
Rs 16.22
AL-Ghazi Tractor
Rs (8.59)
National Refinery
Rs 15.48
Service Industries
Rs (5.00)
Bata (Pak) Ltd
Rs 11.67
Blessed Woolen
Rs (3.70)
P.S.O.
Rs 11.64
Gadoon Textile
Rs (2.28)

KSE 30 – Shares Index
Previous 10,895.09, Monday’s 11,243.40, plus 348.31 points.
KSE 100 – Shares Index
Previous 11,561.67, Monday’s 11,868.88, plus 307.21 points.
MARKET CAPITALIZATION
Previous Rs.3,021.576, Monday’s Rs.3,098.578, plus Rs.77.002bn
VOLUME LEADERS
J.S. & Co 15.496m, Azgard Nine 8.754m, Fauji Fertiliser Bin Qasim 8.541m, D.G.Khan Cement 5.198m, Lotte Pakistan 4.825m shares.
TOTAL VOLUME
101.135m shares
TOTAL
TONE:firm,total listed 638,actives 332,inactives 306,plus 165,minus 83,unchanged 84
Stocks stage spectacular rally of 307 points
KARACHI, Oct 31: The share market on Monday extended the weekend rally on strong follow-up support triggered by reports of a sharp increase in the selling prices of urea by a leading producer.
The benchmark KSE 100-index added another 307.21 points or 2.66 per cent to the weekend total at 11,868.88 compared to 11,561.67 last weekend as leading base shares virtually raced toward their pre-reaction levels.
It virtually galloped to its pre-reaction level of 12,000-point and indications are that the current rally in the fertiliser sector would be joined by the low-priced oil shares as some foreign investors have already resumed their covering operations.
“At one stage all roads appear to be leading to the fertiliser sector under the lead of Engro Corporation, which has raised urea price by a record Rs400 per bag,” said stock analyst Ahsan Mehanti.
He said some other contributory positive factors, notably higher quarterly earnings of Rs14.50 per share by PSO and some positive developments on the circular debt also played a dominating role in sustaining the weekend snap rally.
Other leading fertiliser shares, Fauji Fertiliser, Fatima Fertiliser and Fauji Fertiliser Bin Qasim also responded positively to the news and were quoted higher.
The market seemed to have ignored the heating up of the political scenario in the wake of rallies by some of the major parties apparently to demonstrate their street power, analyst Samar Iqbal said.
It confidently followed its own fundamentals after having passed through a lean period and about five per cent rise during the last two sessions reflects that investors mean business without deterred by the political scenario, he added.
Prominent gainers were led by Millat Tractors and National Refinery, up by Rs16.22 and Rs15.48, while major losers included Unilever Pakistan and Al-Ghazi Tractors, off Rs97.34 and Rs8.59.
Traded volume soared above the prohibited level of 100m shares at 101.135m shares as gainers held a strong lead over the losers at 165 to 83 with 84 shares holding onto the last levels.
The active list was led by JS & Co, up Re1 one rupee at Rs5.81 on 16m shares followed by Azgard Nine, firm by 46 paisa at Rs4.29 on 9m shares, Fauji Fertiliser Bin Qasim, higher by Rs2.57 at Rs62.67 also on 9m shares, D.G. Khan Cement, firm by 70 paisa at Rs21.06 on 5m shares, Lotte Pakistan, steady by 25 paisa at Rs11.41 also on 5m shares, Bank Alfalah, unchanged at Rs10.98 on 4m shares and Pakistan Oilfields, higher by Rs2.94 at Rs360.45 on 3m shares.
They were followed by Lucky Cement, up 89 paisa at Rs82.91 on 3m shares, Nishat Chunian, easy 31 paisa at Rs17.15 on 2m shares and National Bank, higher by Rs2.07 at Rs43.64 also on 2m shares. FUTURE CONTRACTS:
The active list on this counter was led by Fauji Fertiliser Bin Qasim, higher by Rs2.46 at Rs62.94 on 2.425m shares followed by Azgard Nine, firm by 46 paisa at Rs4.37 on 1.961m shares and D.G. Khan Cement, up 74 paisa at Rs21.29 on 0.623m shares.
National Bank, higher by Rs2.10 at Rs44.13 on 0.524m shares and Pakistan Oilfields, higher by Rs2.65 at Rs362.69 on 0.436m shares. DEFAULTER COMPANIES:
Japan Power was actively traded at the previous level of Rs0.63 on 0.386m shares followed by Ravi Textiles, steady by two paisa at Rs0.87 on 35,029 shares and Shahpur Textiles, lower by 23 paisa at Rs0.25 on 11,440 shares. All others were either-way fractionally traded. DIVIDEND:
On the corporate front, Indus Dyeing and Manufacturing Company has announced an interim dividend at rate of 50 per cent for the quarter ended Sept 30, 2011, while Shadman Cotton Mills have omitted the payout for the year ended Sept 30, 2011.
Mohammed Saleem Mansoori

Sunday, 30 October 2011

DAILY STOCK MARKET UPDATE: 31.10.2011


Stock

Karachi Stocks Up 246.36 Points:
KARACHI, Oct 31: The KSE-100 index was at 11808.03, up 246.36 points.

October 28, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:
UniLever Pakistan
Rs 147.55
Wyeth Pakistan
Rs (36.01)
Attock Petroleum
Rs 18.21
Colgate Pakistan
Rs (25.49)
P.S.O.
Rs 10.55
Bata Pakistan
Rs (20.46)
National Refinery
Rs 9.25
Nestle Pakistan
Rs (12.87)
Fauji Fertiliser
Rs 8.77
Gadoon Textile
Rs (2.39)

KSE 30 – Shares Index
Previous 10,586.28, Friday’s 10,895.09, plus 308.81 points.
KSE 100 – Shares Index
Previous 11,283.49, Friday’s 11,561.67, plus 278.18 points.
MARKET CAPITALIZATION
Previous Rs2,953.933bn, Friday’s Rs3,021.576bn, plus Rs67.643bn.
VOLUME LEADERS
D.G.Khan Cement 15.201m, Fauji Fertiliser Bin Qasim 6.918m, Fatima Fertiliser 5.738m, Lucky Cement 4.731m, Lotte Pakistan 3.746m shares.
TOTAL VOLUME
81.083m shares
TOTAL
TONE; firm,total listed 638, actives 306, inactives 332, plus 138, minus 86, unchanged
KSE 100-share index gains 278 points
KARACHI, Oct 28: The stock market finished the weekend session on a steady note as investors covered positions under the lead of blue chips in the oil and fertilizer sectors currently ruling well below their previous peak levels and offer an attractive bait of capital gains.
The KSE 100-share index, which has been under pressure throughout the week on foreign selling, ended with smart rallies on the blue chip counters, pushing the benchmark to well above the recent lows at 11,561.67, up 2.47 per cent or 278.18 points.
Much of the rise in the benchmark was contributed by the index-heavy OGDC, which rose by Rs6.63 at Rs139.33 on strong covering purchases followed by the announcement of an interim dividend of 15 per cent for the quarter ended Sept 30, 2011.
Bulk of the covering purchases remained confined to fertilizer sector at the attractively lower levels under the lead of Fauji Fertilizer and Fatima Fertilizer and some blue chips on the other counters, limiting the market decline.
“Most of the leading shares, including those in the oil sector were in the firing range owing to a protracted bearish spell,” analyst Ahsan Mehanti said, and added: “Local bulls covered positions at the lower levels, enabling the broader market to behave orderly”.
The market has been in an oversold position owing to a protracted bearish spell and needed correction that came in the form of short-covering, he said.
In normal conditions though weekend session generally attracts a lot of profit-selling from all and sundry as no one is inclined to hold long positions in view of the financial risks in the intervening official closures, he said, and added technical support limited the early week fall.
Another leading analyst Samar Iqbal hoped that higher corporate earning reports and payouts by most of the leading companies are expected to put the market back on the rails possibly by the next week as the current lower rates offer an attractive bait of capital gains.
Leading gainers were led by Unilever Pakistan and Attock Petroleum, up by Rs147.55 and 18.21, while top losers included Wyeth Pakistan and Colgate Pakistan, off Rs36.01 and 25.49, respectively.
Traded volume rose to 81.083m shares from the previous 70m shares as gainers forced a strong lead over the losers at 138 to 86, with 82 shares holding on to the last levels.
The active list was led by D. G. Khan Cement, up 25 paisa at Rs20.36 on 15m shares followed by Fauji Fertiliser Bin Qasim, higher by Rs2.13 at 59.90 on 7m shares, Fatima Fertiliser, firm by 93 paisa at Rs25.26 on 6m shares, Lucky Cement, higher by Rs2.02 at Rs82.02 on 5m shares, Lotte Pakistan, steady by 10 paisa at 11.16 on 4m shares, Bank of Punjab, firm by 13 paisa at Rs5.77 also on 4m shares, and Fauji Fertiliser, sharply higher by Rs8.77 at Rs184.20 on 4m shares.
They were followed by Engro Corporation, higher by Rs2.49 at Rs112.60 on 4m shares, Arif Habib Corporation, up by Rs1.44 at Rs30.33 on 3m shares and Nishat Mills, higher by Rs1.88 at 42.81 on 2m shares.
FUTURE CONTRACTS: The active list was also led by D. G. Khan Cement, firm by 20 paisa at Rs20.55 on 2.208m shares, its October contract was up by 17 paisa at 20.32 on 1.265m shares followed by both the settlements of Bank AlFalah, steady by 12 and 15 paisa at Rs11.08 and 10.95 on 2.035m and 2.027m shares and Fauji Fertiliser Bin Qasim up by Rs2.26 at 60.48 on 1.552m shares.
DEFAULTER COS: Japan Power led the list of actives, lower by four paisa at Rs0.63 on a large volume of 0.259m shares followed by Ravi Textiles, steady by five paisa at 0.85 on 24,532 shares and S. S. Oils, unchanged at 4.50 on 4,500 shares.
Bears prowl the market during outgoing week
KARACHI: The bears prowled the Karachi stock market for all of the past week, knocking off values from most of the investors’ favoured stocks.
The KSE-100 share index plunged by a massive 463 points and settled at 11,525 points, representing 3.86 per cent loss in the five trading sessions, Monday through Friday.
Market capitalisation declined 3.61 per cent to $26.25 billion from end of the earlier week’s close at $34.94 billion.
Average daily turnover fell 31.27 per cent to 86.11 million shares, from 125.94 million shares a week ago.
The volume in the latest week happened to be lower than the 12-month average of 94.81 million shares.
‘Bad news’ was in ample supply. Yet it was the ‘uncertainty’ that kept investors away.
Analysts at several brokerage houses said that investors were not buoyed in spite of some solid corporate results.
Several external issues were thought to sit on investors’ minds. On the political front, the outcome of US Secretary of State,
Hilary Clinton’s visit to the country on Oct 20 was being closely watched to assess whether the relationship had improved or soured further.
Other than that, investors fret over the prevailing gas shortage for fertiliser sector, which was expected to get worse in winter.
Some market participants suspected that interested quarters may have seized the opportunity to make profit following the Sindh High Court orders to SNGPL for supply of the contracted 100mmcfd gas to Engro’s new plant.
A trader said they weaved an interesting tale around it: If gas supply to Engro is restored, the company would cut back on market price of urea by Rs40 per bag and FFC and FFBL would have no option but to follow suit.
The fertiliser sector earnings would be badly hit. The two scrips on the sector that were rising to the limit for many days and helping index to soar, fell on the floor with a thud. Hence, the sector came down by 5.1 per cent during the week, led by Engro down 13.7 per cent and FFC down by 5.4pc.
Across the board selling was witnessed on the second day of trading after a heavy foreign outflow of $60 million as Xenel, the Saudi based co-sponsor of Hubco quit after selling its entire stake of 12 per cent. Aggregate net foreign outflow during the
week, thus amounted to $67million compared to an outflow of $2.9million the earlier week.
Naveed Tehsin, analyst at JS Global calculated that the net foreign investment for first quarter FY12 clocked in at $236million, down 49 per cent, year-on-year. The analyst observed that the continuing global crisis and stern messages from US Secretary of State, Hilary Clinton overshadowed the impressive corporate results.
Pakistan Oilfields had posted an impressive growth of 55 per cent in profit and Attock Refinery earnings surged by 53 per cent, year-on-year.
Macro releases were largely disappointing. Current account deficit widened to $908 million in Sept, up 4.5 times, the earlier month. Moreover, textile exports during the month were recorded at $982 million, down 10 per cent month-on-month.
Going forward, investor would watch out for EU Summit on Oct 23 that would be critical for eurozone debt debacle. The tone and text of messages from the US Secretary of State in her visit to the country would scare or embolden stock traders.
On the market front, some of the big names: PPL, OGDC, MCB, KAPCO, FFBL, Lucky and Hubco are to announce their July-Sept quarterly results.
Many analysts believe that the trend of earnings and payout by big corporates would determine the direction of the market.
Mohammed Saleem Mansoori

Thursday, 27 October 2011

DAILY STOCK MARKET UPDATE: 28.10.2011


Stock

Karachi Stocks Down 103.73 Points:
KARACHI, Oct 27: At close of trading, the KSE-100 index was at 11283.49, down 103.73 points.

October 27, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:
UniLever Pakistan
Rs 28.28
Nestle Pakistan
Rs (29.81)
Bata Pakistan
Rs 21.50
Colgate Pakistan
Rs (11.93)
Millat Tractors
Rs 3.20
Attock Petroleum
Rs (11.33)
Shezan International
Rs 2.97
National Refinery
Rs (10.45)
Agriautos
Rs 2.75
P.S.O.
Rs (8.48)

KSE 30 – Shares Index
Previous 10,607.54, Thursday’s 10,586.28, minus 111,26 points
KSE 100 – Shares Index
Previous 11,387.22, Thursday’s 11,283.49, minus 103.73
MARKET CAPITALIZATION
Pevious Rs.2,982.170bn, Thursday’s Rs.2,953.933bn, mius Rs.28.237bn
VOLUME LEADERS
Fatima Fertiliser 9.170m, Fauji Fertiliser Bin Qasim 6.588m, Financial Equities 6.374m, Lotte Pakistan 5.102m, Engro Corporation 4.208m shares.
TOTAL VOLUME
69.758m shares
TOTAL
TONE: easy, total listed 638, actives 330, inactives 308, plus 74, minus 174, unchanged 82
Karachi Stocks suffer under pressure
KARACHI, Oct 27: The shares market remained under pressure on Thursday as investors continued to take profits at the available margins but evidence of stray covering purchases at dips allowed some of the pivotals to recover modestly.
The KSE 100-share index suffered a fresh setback of about one per cent or 103.73 points at 11,283.49 as compared to previous 11,387.22, reflecting the weakness of the major base shares. The weakness of leading base shares, notably National Bank, PTCL, Arif Habib Corporation and some others added to its weakness.
On the corporate front, the directors of Fauji Fertiliser Bin Qasim have announced third interim dividend at the rate of 30 per cent, while Faysal Bank came out with bonus shares at the rate of 12.5 per cent for the year ended June 30, 2011.
Analysts said the chief factor behind the extended bearishness was fresh selling by foreign investors on oil and other blue chips and absence of matching support even at the falling prices that further aggravated the price situation.
After having eroded Rs25 from its recent peak level of Rs198 couple of weeks earlier, among the leading fertiliser shares, Fauji Fertiliser came in for strong support at the lower levels on the strength of higher sales and was quoted higher by Rs2.37 at 175.43.
“It seemed to have again resumed its upward drive to the target of Rs200 per share,” analysts said and added” there is no reason to doubt about its ability to hit the target after rising as did it fell.” But its sister company, Fauji Fertiliser Bin Qasim suffered fresh pruning and did not sustain the run-up above Rs60 and so did Engro Corporation, which fell by Rs30 during the last couple of weeks from its peak of Rs145 some two weeks earlier, they said.
Minus signs again dominated the list under the lead of Nestle Pakistan and Colgate Pakistan, off Rs29.81 and 11.93, while on the other hand Unilever Pakistan and Bata Pakistan managed to finish with gains, ranging from Rs28.28 and 21.50.
Traded volume fell to 69.758m shares from the previous 81m shares as losers held a strong lead over gainers at 174 to 74, with 82 shares holding on to the last levels.
The active list was topped by Fatima Fertiliers, steady by eight paisa at Rs24.33 on 9m shares followed by Fauji Fertiliser Bin Qasim, off Rs1.49 at 57.77 on 7m shares, Financial Equities, lower 75 paisa at 1.75 on 6m shares, Lotte Pakistan, easy by 55 paisa at 11.06 on 5m shares, Engro Corporation, lower by nine paisa at 110.11 on 4m shares, DG Khan Cement, off one rupee at 20.11 also on 4m shares and National Bank, lower by Rs1.55 at 41.14 on 3m shares.
They were followed by Fauji Fertiliser, up Rs2.37 at 175.43 on 2m shares, PTCL, easy 24 paisa at 10.47 also on 2m shares and Arif Habib Corporation, easy by 41 paisa at 28.89 on 1.710m shares.
FUTURE CONTRACTS: Fauji Fertiliser Bin Qasim came in for renewed selling and was marked down by Rs1.60 at 58.22 on 1.788m shares followed by its October settlement, lower Rs1.59 at 57.71 on 1.253m shares.
Both the settlements of Engro Corporation were down by 53 and 75 paisa at Rs110.08 and 111.06 on 0.953m and 0.949m shares and National Bank, off Rs1.59 at 41.65 on 0.940m shares.
DEFAULTER COs: Japan Power came in for fresh selling and fell by four paisa at Rs0.67 on 30,392 shares followed by Asim Textiles, up 25 paisa at Rs2 on 25,000 shares, Unicap Modaraba, higher by 50 paisa at 0.80 on 24,000 shares and Genertech Power, off 20 paisa on 11,534 shares.
SS Oil was quoted higher by 24 paisa at Rs4.50 on 14,500 shares followed by Ravi Textiles, lower by seven paisa at 0.80 on 10,178 shares and Invest Bank, up eight paisa at 0.35 on 10,019 shares.

Mohammed Saleem Mansoori