DAILY STOCK MARKET UPDATE: 24.11.2011

Stock

Karachi Stocks Up 93 Points:
KARACHI, Nov 24: The KSE-100 index was at 11727, up 93 points.(today 12.45 p.m.)

November 23, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Unilever Pakistan	Rs 40.30	Nestle Pakistan	Rs (144.76)
Bata Pakistan	Rs 34.73	Siemens Pakistan	Rs (14.89)
Colgate Pakistan	Rs 24.00	Al-Ghazi Tractors	Rs (6.69)
Linde Pakistan	Rs 1.57	Attock Petroleum	Rs (5.75)
Exide Pakistan	Rs 1.54	P.S.O.	Rs (3.94)

KSE 30 – Shares Index	Previous 121,045.87, Wednesday’s 10,916.87, minus 129.00 points
KSE 100 – Shares Index	Previous 11,767.00, Wednesday’s 11,633.97, minus 133.03 points
MARKET CAPITALIZATION	Previous Rs 3,061.240bn, Wednesday’s 3,028.621bn, minus 32.619bn
VOLUME LEADERS	Bank AlFalah 3.307m, Azgard Nine 2.270m, Lotte Pakistan 2.063m, TRG Pakistan 1.997m, Fauji Fertiliser Bin Qasim 1.809m shares.
TOTAL VOLUME	33.565m shares
TOTAL	TONE; bearish,total listed 638, actives 310, inactives 328, plus 69, minus 159, unchanged 82

KSE 100-share index loses 133 points

KARACHI: The shares market on Wednesday fell further lower followed by active selling at the higher levels on blue chip counters amid relatively slow demand even at the decline.
The KSE 100-share index suffered a fresh fall of 133.03 points or 1.13 per cent at 11,633.97 as compared to 11,767.00 a day earlier as leading base shares, notably National Bank, Nishat Mills, Fauji Fertiliser, Fauji Fertiliser Bin Qasim and some others remained under pressure.
Conflicting rumours about the discount rate in the next week’s central bank meeting and the changing political scenario dominated trading, and as a result leading investors were not inclined to take fresh positions even at the falling prices, some analysts said.
However, the current sell-off was over extended beyond its technical mandate and the recovery, which should have made strong showing, still appears to be shy, they added.
Most of the blue chips, notably in the fertiliser and oil sectors were still in the firing range owing to available margins and led the bears to further marking down of prices, floor brokers said.
“But selling was terribly small and in no way reflected that bears have resumed technical buying in an oversold market and the current investor hesitancy is now overdone,” they added.
Price changes were mostly fractional and reflected lack of support even at the falling prices and much of the activity remained confined to most of the second-liners.
Prominent gainers were led by Unilever Pakistan and Bata Pakistan, up by Rs40.30 and 34.73,while leading losers included Nestle Pakistan and Siemens Pakistan, off  by Rs144.76 and 14.89, respectively.
Volume figure showed a modest rise at 33.565m shares from the previous 28.368m shares, but losers held a strong lead over the gainers at 159 to 69, with 82 shares holding on to the last levels.
The active list was topped by Bank Al Falah, steady by five paisa at Rs11.95 on 3.307m shares followed by Azgard Nine, lower 34 paisa at 3.34 on 2.270m shares, Lotte Pakistan, easy 22 paisa at 10.10 on 2.063m shares, TRG Pakistan, lower eight paisa at 1.40 on 2m shares, Fauji Fertiliser Bin Qasim, off 89 paisa at 57.15 on 1.809m shares, Fauji Fertiliser, lower by Rs2.51 at 168.30 on 1.646m shares, and Fatima Fertiliser, easy by 21 paisa at 22.57 on 1.363m shares.
They were followed by National Bank, off 75 paisa at 42.95 on 1.286m shares, Nishat Mills, lower by 73 paisa at 42.31 on 1.137m shares and PTCL, firm by nine paisa at 10.69 on 081m shares.
FUTURE CONTRACTS: Speculative issues on the forward counter also followed the lead of their counterparts and fell under the lead of Azgard Nine, easy by 17 paisa at Rs3.44 on 0.848m shares followed by National Bank, off 79 paisa at 43.00 on 0.790m
shares, while its December contracts fell by 74 paisa at 43.50 on 0.450m shares.
Both the contracts of Fauji Fertiliser Bin Qasim were quoted lower by 67 and 74 paisa at 55.20 and 74 paisa at 57.26 on 0.678 and 0.630m shares respectively.
DEFAULTER COS: Service Fabrics came in for active support and rose by 12 paisa at 0.25 on 21,500 shares followed by SS Oils, unchanged at 4.50 on 1,000 shares and Pak PVC, also unchanged at 4.08 on 201 shares.
DIVIDEND: The directors of United Brands, Dadabhoy Constractions, Dadabhoy Sack and Dadabhoy Cement have passed over the dividend for the last year ended June 30.
BOARD MEETINGS: Hala Enterprises, Ittefaq General Insurance, on Nov 28, Exide Pakistan on Nov 29, TFC Saudi Pak Leasing Company on Dec 9.

Mohammed Saleem Mansoori