DAILY STOCK MARKET UPDATE: 19.10.2011

Stock

Karachi Stocks Down 63.36 Points:
KARACHI, Oct 18: At close of trading, the KSE-100 index was at 11912.19, down 63.36 points.

October 18, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Rafhan Maize	Rs 94.91	Nestle Pakistan	Rs (95.49)
Millat Tractors	Rs 9.86	Engro Corporation	Rs (6.70)
Attock Refinery	Rs 4.86	Attock Petroleum	Rs (6.19)
Unilever Pak Ltd	Rs 4.70	Bata Pakistan	Rs (5.34)
Fauji Fertiliser	Rs 4.51	Exide Pakistan	Rs (4.95)

KSE 30 – Shares Index	Previous 11,464.69, Tuesday’s 11,424.72, minus 39.97 points
KSE 100 – Shares Index	Previous 11,975.55, Tuesday’s 11,912.19, minus 63.36 points
MARKET CAPITALIZATION	Previous Rs3,139.480bn, Tuesday’s Rs3,122.397bn, minus 17.083bn
VOLUME LEADERS	Fatima Fertiliser 13.503m, Fauji feretiliser Bin Qasim 7.904m, Lotte Pakistan 7.847m, Arif Habib Corpn 4.801m, Fauji Fertiliser 4.187m shares.
TOTAL VOLUME	81.147m shares.
TOTAL	TONE: Easy, total listed 638, actives 376,inactives 262, plus 101, minus 169, unchanged 106

KSE 100-share index loses 63 points

KARACHI, Oct 18: The stock market on Tuesday remained under pressure as a section of investors indulged in renewed profit-selling on a number of counters under the lead of some blue chips, notably Engro Corporation and some others.
On the corporate front, the board of directors of Habib Bank (consolidated) announced an interim dividend at the rate of 30 per cent for the nine month ended on Sept 30, 2011. It was well-received in the market as its share value rose by one rupee at Rs117.12 on 46,899 shares. But on the other hand, Quice Foods omitted payout for the last year ended June 30, 2011.
The KSE 100-share index posted a fresh fall of 63.36 points at 11,912.19 points as some of the leading base shares came in for renewed selling and were marked down sharply lower.
Analysts said the market appears to be in a consolidation phase in the absence of strong buying from leading investors, notably the foreign ones.
But some others said profit-selling by the institutional traders on the blue chip counters seemed to have changed the investor perceptions about the future share business outlook though short-term basis.
The heating up of the political scenario followed by counter blame-game also took its toll as an active section of investors awaited further developments on this count, they added.
Howerver, barring Engro Corporation some of the leading shares in the fertiliser sector came in for fresh active short-covering despite reports of some problems on the gas supply front, floor brokers said.
Attock Refinery, among the Attock group of companies, also performed credibly well, ending with higher gains for the last two sessions on reports of higher earnings.Fauji Fertiliser, however, maintained its upward drive on strong follow-up support on
reports of higher interim earning and is steadily heading towards its new chart point of Rs200 per share. Fatima Fertiliser and Fauji Fertiliser Bin Qasim were also actively traded on the higher side, they added.
Minus signs dominated the list under the lead of Nestle Pakistan and Engro Corporation who came in for active selling and were marked down by Rs95.49 and Rs6.70 but on the other hand Rafhan Maize and Millat Tractors came in for active buying and rose by Rs94.91 and Rs9.86, respectively.
Trading amounted to 81.147m shares as compared to 80m shares a day earlier as losers held a fair lead over the gainers at 169 to 101, with 106 shares holding on to the last levels.
The active list was led by Fatima Fertiliser, up 49 paisa at Rs24.38 on 14m shares followed by Fauji Fertiliser Bin Qasim, steady by 20 paisa at 63.67 on 8m shares, Lotte Pakistan, firm by 22 paisa at 12.57 also on 8m shares, Arif Habib Corporation, lower by Rs1.18 at 31.59 on 5m shares, Fauji Fertiliser, sharply higher by Rs4.86 at 198.35 on 4m shares, Attock Refinery, up Rs4.86 at 124.20 on 4m shares, and PTCL, lower by 31 paisa at 11.52 on 3m shares.
They were followed by Hub-Power, easy 16 paisa at 7.25 on 3m shares, DG Khan Cement, lower 27 paisa at 22.39 also on 3m shares and Engro Corporation, sharply lower by Rs6.70 at 127.38 on 2m shares.
FUTURE CONTRACTS: Fauji Fertiliser Bin Qasim came in for stray support and was quoted higher by 16 paisa at 63.98 on 1.354m shares followed by Arif Habib Corporation, lower by Rs1.12 at 31.82 on 1.040m shares and Fauji Fertiliser, higher by Rs4.11 at 198.77 on 0.950m shares.
The were followed by Attock Refinery, higher by Rs4.57 a 124.67 on 0,856m shares and Engro Corporation, off Rs6.73 at 128.04 on 0.517m shares.
DEFAULTER COs: Japan Power came in for active short-covering at the lower level and was quoted higher by three paisa a 0.79 on 0.273m shares followed by Ravi Textiles, easy, by two paisa at 0.85 on 45,519 shares, Genertech Power, easy by two paisa at 0.40 on 26,010 shares, Service Fabrics, easy by 20 paisa at 0.15 on 24,000 shares.

Mohammed Saleem Mansoori