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Wednesday, 30 November 2011


KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 01.12.2011: Stock Karachi Stocks Up  64.43 Points: KARACHI, Nov 30: The KSE-100 in...



Karachi Stocks Up 64.43Points:
KARACHI, Nov 30: The KSE-100 index was at 11597.19, up 64.43 points.(Today 10.11 a.m.01.12.2011)

November 30, 2011

Bata Pakistan
Rs 14.94
Siemens Pakistan
Rs (24.74)
Unilever Pakistan
Rs 9.80
Bhanero Textiles
Rs (10.53)
Nestle Pakistan
Rs 3.25
National Refinery
Rs (7.78)
Abbot Lab
Rs 2.98
Rs (7.59)
Attock Petroleum
Rs 2.74
Exide Pakistan
Rs (5.32)

KSE 30 – Shares Index
Previous 10,764.72, Wednesday’s 10,800.24, plus 35.52 points
KSE 100 – Shares Index
Previous 11,506.95, Wednesday’s 11,532.83 points, plus 25.88 points
Previous Rs.2,996.548bn, Wednesday’s 3,003.359bn, plus 6.811bn
J.S.& Co 5,815m, Fatima Fertiliser 4.148m, D. G. K. Cement 3.153m, PICIC Growth Fund 2.673m, Fauji Fertiliser Bin Qasim 1.869m shares.
TONE: steady, total listed 638, actives 304, inactives 334, plus 125, minus 86, unchanged 93
Karachi Stocks extend overnight rally
KARACHI: The stock market on Wednesday extended the overnight rally but physical activity was a bit slow ahead of policy statement by the central bank on discount rate and the economy.
However, an air of optimism prevailed on certain quarters about the fresh downward revision of the discount rate as was reflected by active short-covering on some blue chip counters.
The KSE 100-share index managed to put on another modest gain of 25.88 points at 11,532.83 points as some of the leading base shares were traded further higher.
Although some of the leading base shares, notably in the oil sector and some other blue chips aided the bench mark to maintain a steady posture despite weakness of the leading fertiliser shares, the future market trend is expected to be guided by the State Bank`s review of the economy, analyst Ahsan Mehanti said.
Some other market trend-setters on the higher side, notably Fauji Fertiliser, Fauji Fertiliser Bin Qasim and some others remained under pressure on fears of tax on gas consumption and increase in prices to this sector, one of the major consumer, analyst Samar Iqabal said.
But some others said optimism about a fresh cut in the discount rate as demanded by the major trade bodies just at the heels of previous big downward revision of 1.5 basis points appears to be a distant possibility but it did play a positive role in keeping the market in an optimistic mood.
But the volume figure did not show any increase and remained stuck to the overnight level, reflecting `wait and see` policy as investors awaited the announcement of the monetary policy for the next two months.
Plus signs again dominated the list under the lead of Bata Pakistan and Unilever Pakistan, up by Rs14.94 and 9.80, while among the top losers, Siemens Pakistan and Bhanero Textiles, off Rs24.74 and 10.53 were leading.
Traded volume was maintained around the overnight level of 38.491m shares as gainers held a strong lead over the losers at 125 to 86, with 93 shares holding on to the last levels.
The active list was topped by JS & Co, up 25 paisa at Rs5.83 on 6m shares followed by Fatima Fertiliser, steady by 17 paisa at 23.12 on 4m shares, DG Khan Cement, firm by 31 paisa at 20.75 on 3m shares, PICIC Growth Fund, up 30 paisa at 12.57 on 3m shares, Fauji Fertiliser Bin Qasim, lower 32 paisa at 54.11 on 2m shares, Arif Habib Corporation, firm by 29.15 on also on 2m shares and Engro Corporation, up Rs1.62 at 128.86 on 1,172m shares.
They were followed by Fauji Fertiliser, off Rs1.48 at 163.99 on 1.158m shares, Japan Power, easy by four paisa at 0.60 on 1.140m shares and Lotte Pakistan, lower by three paisa at 9.76 on 1.139m shares.
FUTURE CONTRACTS: Engro Corporation came in for renewed support and was marked up by Rs1.54 at 128.37 on 0.672m shares followed by Fauji Fertiliser, off Rs1.70 at 165.61 on 0.598m shares, and Attock Refinery, steady 11 paisa at 120.42 on 0.462m shares. They were followed by Fauji Fertiliser Bin Qasim, lower by 34 paisa at 51.85 on 0.351m shares and DG Khan Cement, up 39 paisa at 20.98 on 0.279m shares.
DEFAULTER COs: The activity on this counter remained slow in the absence of investors and prices showed fractional either-way changes.
Redco Textiles came in for stray support at the previous rate of 0.30 on 7,000 shares followed by Quice Foods, easy six paisa at 3.56 on 3,500 shares and Mukhtar Textiles, up 13 paisa at 0.30 on 2,008 shares.
Others showed minor changes without any significant deal.
KSE okays market development measures
KARACHI: A meeting of the board of directors of Karachi Stock Exchange was held on Tuesday, which took some important decisions in regard to market development.
Significant among them were to grant approval, in principle, for the development of trading platform and system for Government Securities (T-Bills and PIBs) through the KSE and also to approve, in principle, the ‘Concept Paper’ for creation of Small & Medium Enterprises (SME) Board.
The Concept Paper would be submitted to the Securities and Exchange Commission of Pakistan (SECP) for approval.
The KSE notified on Wednesday the other decisions taken by the board, which included the approval of Revised Terms of Reference (TOR) of Index Experts Committee of the Exchange and the ratification of proposal on ‘Proposed margin relief to members’ as deliberated by the authorised Board members/management with the representatives of SECP and submitted to the Commission for their further consideration.
The board also accorded its consent to the following new/revised Regulations and regulatory amendments, subject to the approval of SECP: (i) New Regulations to be called as “Regulatory Monitoring and Compliance of Brokers’, which would be put in place of the existing System Audit Regulations (The draft Regulations to be put up on KSE website for stock brokers consideration) and (ii) Amendments in Market Making Regulations to allow relaxation in minimum equity requirement and enhanced sharing of transaction cost (called “Laga”) by the Exchange with the market maker.
The board also decided to grant approval of Risk Management Gateway (RMG) that is being developed by KSE Information Technology (IT) Division. Also, the declaration of conflict of interest in matters to be deliberated by the Voluntary Delisting Committee by its members was suggested by the board.
The proposal to allow an additional Universal Identification Number (UIN) to each brokerage house to specifically cater to rectify erroneous trades was approved by the board.
It was also considered and decided to make a representation to FBR for appropriate treatment of tax on the income/profit being earned by the financier under Margin Financing, Margin Trading and Securities Lending & Borrowing.
In regard to the long-term investment, the board also approved proposal of listing of Term Finance Certificates (TFCs) on KSE, which were already listed on other stock exchanges, with lesser documentary requirement and payment of listing fee duly rationalised, conditional upon all future debt securities being simultaneously listed on all stock exchanges.
And finally, the board suggested ratification of amendments by SECP in Risk Management Regulations as previously approved by the board in relations to allowing individual shareholder of a brokerage house to utilise his securities for meeting shortfall in margin/ mark-to-market losses requirement of other UINs.
Mohammed Saleem Mansoori

Tuesday, 29 November 2011


KARACHI STOCK EXCHANGE-DAILY MARKET TREND: DAILY STOCK MARKET UPDATE: 30.11.2011: Stock Karachi Stocks Up  65.40 Points: KARACHI, Nov 30: The KSE-100 in...



Karachi Stocks Up 65.40 Points:
KARACHI, Nov 30: The KSE-100 index was at 11572.35, up 65.40 points.(Today 10.32 a.m.30.11.2011)

November 29, 2011

Unilever Pakistan
Rs 25.38
Nestle Pakistan
Rs (105.43)
Indus Dyeing
Rs 9.49
Siemens Pakistan
Rs (39.50)
Attock Petroleum
Rs 5.13
Bata Pakistan
Rs (33.55)
Colgate Pakistan
Rs 5.00
National Refinery
Rs (14.25)
Engro Corpn
Rs 4.15
Rs (3.89)

KSE 30 – Shares Index
Previous 10,745.34, Tuesday’s 10.764.72, plus 19.38
KSE 100 – Shares Index
Previous 11,494.15, Tuesday’s 11,506.95, plus 12.80 points
Previous Rs 2,993.547bn, Tuesday’s 2,996.548bn, plus 3.001bn
Fatima Fertiliser 5,459m, Fauji Feretiliser Bin Qasim 4.365m, Fauji Fertiliser 2.193m, Attock Refinery 1.798m, Arif Habib Corpn 1.689m shares.
TONE: steady, total listed 638, actives 293, inctives 345, plus 109, minus 105, unchanged 79

KSE 100-share index recovers 12.80 points
KARACHI, Nov 29: The stock market on Tuesday staged a modest recovery as investors covered positions on oil and some other blue chip sectors ahead of the central bank meeting on Wednesday amid hopes of a fresh cut in the discount rate.
Analysts said investors appear to be a bit optimistic about a possible further downward revision in the rate after a series of demands by major trade bodies in Karachi and Lahore.
Some other positive developments, notably on the Nato attack front, resumption of gas supplies to the fertiliser sector and on top of them an oversold market attracted active short-covering in most of the blue chips, they added.
The KSE 100-share index recovered only 12.80 points at 11,506.95 after at one stage having dropped to a low of 11,426.50, reflecting the strength of leading shares in the oil sector.
Engro Corporation, which has been under pressure for the last couple of sessions, initiated the rally followed by reports of cut in recently increased urea price amid strong covering purchases at the lower levels followed by leading oil shares under the lead of OGDC and Attock group.
Floor brokers said that the reaction was genuine as in the conditions, such as Nato attack, investors mostly get jittery and get indulged in panic selling, but luckily the relative strength of the blue chip sectors confidentially absorbed the selling and put the market back on the rails.
But some others said a small rise in the benchmark reflects that the market is still unstable and a big push could only keep it in a positive mood owing to a flurry of negative news.
Among the top gainers, Unilever Pakistan and Indus Dyeing were leading, up Rs25.38 and 9.49, while losers were led by Nestle Pakistan and Siemens Pakistan, off Rs105.43 and 39.50, respectively.
Traded volume fell to 37.386m shares from the previous 46m shares but gainers held modest lead over the losers at 109 to 105, with 79 shares holding on to the last levels.
The active list was topped by Fatima Fertiliser, up 76 paisa at 22.95 on 6m shares followed by Fauji Fertiliser Bin Qasim, easy by 64 paisa at 54.43 on 4m shares, Fauji Fertiliser, off Rs2.21 at 165.47 on 2m shares, Attock Refinery, higher by Rs3.19 at 119.18 on 2m shares, Arif Habib Corporation, firm by 82 paisa at 28.87 also on 2m shares, Azgard Nine, steady by 13 paisa at 3.50 on 2m shares and Engro Corporation, higher by Rs4.15 at 127.24 on 1.434m shares.
They were followed by DG Khan Cement, up 50 paisa at 20.44 on 1.419m shares, National Bank firm by 15 paisa at 41.19 on 1.252m shares and Lotte Pakistan, easy two paisa at 9.78 on 1.094m shares.
The active list was led by Fauji Fertiliser Bin Qasim, lower by 55 paisa at 52.19 on 1.404m shares followed by Engro Corporation, higher by Rs4.13 at 126.83 on 0.831m shares, and Fauji Fertiliser, off Rs2.32 at 167.31 on 0.807m shares. They were followed by Attock Refinery, higher by Rs3.01 at 120.31 on 0.482m shares and National Bank, firm by 17 paisa at 41.61 on 0.314m shares.
Taj Textiles led the list of actives, lower 17 paisa at 0.18 on 21,000 shares followed by Quice Foods, off 38 paisa at 3.62 on 17,523 shares and Genertech Power, up nine paisa at 0.37 on 9,500 shares.
Mohammed Saleem Mansoori

Monday, 28 November 2011


KARACHI STOCK EXCHANGE-DAILY MARKET TREND: DAILY STOCK MARKET UPDATE: 29.11.2011: Stock Karachi Stock Exchange .  (today 11.00 a.m.) ...



Karachi Stock Exchange . (today 11.00 a.m.)

Nov 29, 2011

KSE100 Index
AllShare Index
KSE 30 Index
KMI 30 Index

Karachi Stocks Down 115.53 Points:
KARACHI, Nov 25: At close of trading, the KSE-100 index was at 11613.88, down 115.53 points
November 28, 2011

UniLever Pak Ltd
Rs 53.02
Bata (Pak) Ltd
Rs (39.43)
Rs 7.26
Siemens Pak
Rs (26.90)
Shell Pakistan
Rs 3.21
Nestle Pakistan
Rs (19.21)
Linde Pakistan
Rs 2.01
National Refinery
Rs (15.00)
Indus Motors
Rs 1.06
Millat Tractors
Rs (6.74)

KSE 30 – Shares Index
Previous 10,932.00, Monday’s 10,745.34, minus 186.66 points.
KSE 100 – Shares Index
Previous 11,648.14, Monday’s11,494.15, minus 153.99 points.
Previous Rs.3,032.141bn, Monday’s 2,993.547bn, minus 38.594bn.
Fauji Fertiliser Bin Qasim 4.750m, Lotte Pakistan 2.774m, Fatima Fertiliser 2.691m,Bank AlFalah 2.472m, MCB 2.411m shares.
TONE:easy,total listed 638,actives 313,inactives 325,plus 69,minus 158,unchanged 86

Karachi Stocks lose 154 points on near-panic selling
KARACHI: The KSE 100-share index plunged by 154 points on near-panic selling, triggered by reports of Nato attack on military border posts, killing two dozen armymen.
The perception that relations with the US may not be that cordial as have been before the Abbotabad SEAL attack after Pakistan stopped oil supplies to the Nato forces and directed the US to vacate the airbase, analysts said.
The benchmark early was off about 200 points but after mid-session institutional support at the lower levels on the blue chip counters allowed it to finish with a clipped loss of 153.99 points at 11,494.15 as compared to 11,648.14 at the weekend, eroding about 39 billion from the market capital at 2,993.547bn.
Much of the selling was confined to the blue chip counters under the lead of oils, notably Attock Group of Companies, said to be one of the major suppliers of petroleum products to Nato forces.
“The negative reaction to the Nato attack was natural as it has more than one political implications for the government,” said a leading stock analyst Ahsan Mehanti “but ruled out the possibility of any further major fall as investors would await fresh political moves to defuse the tension.”
But he predicted that the future outlook appears not to be that encouraging as heating up of the political scenario in the form of public meetings will continue to unsettle market in the coming weeks also.
But another leading analyst Ashraf Zakria says investors would await further developments based on proxy talks to end the impasse and may hold on to their unsold positions rather selling in panic.
The sharp fall in the traded volume reflects this phenomenon as leading investors held on to their positions awaiting further developments on the political front before indulging in panic selling, he added.
Minus signs dominated list under the lead of Bata Pakistan and Siemens Pakistan, off by Rs39.43 and 26.90, while Unilever Pakistan and Sanofi-Aventis managed to close with gains of Rs53.02 and 7.26 respectively.
Turnover figure rose to 46.243m shares from the previous 28m shares but losers maintained a strong lead over the gainers at 158 to 69, with 86 shares holding on to the last levels.
The active list was topped by Fauji Fertiliser Bin Qasim, off Rs1.48 at 55.07 on 5m shares followed by Lotte Pakistan, lower 25 paisa at 9.81 on 3m shares, Fatima Fertiliser, easy by 37 paisa at 22.19 also on 3m shares, Bank Al Falah, easy by 14 paisa at 11.87 also on 3m shares, MCB, sharply lower by Rs4.31 at 148.00 on 3m shares, NIB Bank, easy by one paisa at 1.31 on 2m shares and Fauji Fertiliser, shaprly lower by Rs4.68 at 167.68 on 2m shares.
They were followed by Worldcall Telecoms, lower five paisa at 1 on 2m shares, Nimir Chemicals, easy nine paisa at 2.31 on 1,389m shares and Engro Corporation, off 3.37 at 123.09 on 1.888m shares.
FUTURE CONTRACTS: Fauji Fertiliser Bin Qasim came in for renewed selling and was marked down by Rs1.71 on 1.221m shares followed by Fauji Fertiliser, off Rs3.07 at 169.63 on 0.814m shares and Azgard Nine, easy by four paisa at 3.46 on 0.630m shares.They were followed by Engro Corporation, off Rs3.98 at 122.70 0.555m shares and National Bank, lower by Rs1.07 paisa at 41.44 on 0.376m shares.
DEFAULTER COs: The activity on this counter was relatively slow in the absence of leading investors and fall in prices in the ready section.
Dadabhoy Cement was an exception, which rose by 33 paisa at Rs1.60 on 38,781 shares followed by Genertech Power, easy by five paisa at 0.28 on 26,235 shares and SS Oils, up 35 paisa at 4.85 on 12,000 shares. Others lacked buying interest and were held unchanged.

Stocks fall hoped to freeze in Dec
KARACHI, Nov 28: The KSE-100 index plunged 154 points or 1.32 per cent on the first trading day this week, which some analysts thought was a clear sign of a sinking cycle. Yet, others were hoping for a rebound in December.
Analysts at brokerage AKD Securities observed that over the last 10 years, the KSE-100 Index had gained 0.73 per cent on average in the month of December. Keeping aside the year 2008 (post price floor), the KSE-100 on average had gained 4.83 per cent in the last month of the year. So could the incessant fall in equity values this year freeze in December?
“While the KSE trades at very attractive standalone valuations, represented by low price-to-earning (PER) multiple of 6.3 times and dividend yield of 8.6 times, the KSE discount to the region (on PER) stands at 42 per cent,” said the analysts, “price performance in December could remain subdued if foreign relations remain choppy.” Nevertheless, strong corporate profitability and already compressed valuations should provide some cushion on the downside while any sustainable improvement in global economic dynamics and/or OGDC-spurred rally may unleash latent re-rating potential at the KSE.
One of the worrisome factor for investors has been the outflow of foreign portfolio investment.
The foreign sell-off was comparatively heavier at $3.84million last week, up from net foreign sell of $1.3 million the week ago.
On Monday again gross foreign sell at $5.37 million was much larger than the inflow of $3.65 million, resulting into net foreign sell of $1.72 million. But many market participants said that emerging and frontier markets were experiencing the same and the exit was as fast as the entry. Mumbai market which had seen an envious overseas investment in equities was looking at the outflow at the same pace.

Imtiaz Gadar, at KASB Securities in his report earlier contended that the year 2011 was likely to end as the “dullest year in KSE history.” Not because of the minus 3.2 per cent return, for the market has seen even more dismal return than that, but due to “frustrating range bound behaviour which limited opportunities for investors.”
AKD research calculated that up until the end of November, the KSE index had shed 3.1 per cent on relatively thin activity of average daily volume of 83 million shares and average daily turnover of Rs3.7 billion, despite resumption of monetary easing and strong corporate earnings.
Analysts said that the broad sell off in equities globally was surely a contributing factor, but the country’s own local and political issues had scared off investors. On Monday evening, some excited analysts were exchanging text on their cell phones about the US equity bounce back, with an initial upswing in Dow by 2.5 per cent and FTSE up 2.6 per cent.
Mohammed Saleem Mansoori