DAILY STOCK MARKET UPDATE:04.11.2011

Stock

Karachi Stocks Up 61.37 Points:
KARACHI, Nov 03: At close of trading, the KSE-100 index was at 11807.46, up 61.37 points.

November 03, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Colgate Pakistan	Rs 26.17	UniLever Pakistan	Rs (121.66)
Millat Tractors	Rs 11.72	Rafhan Maize	Rs (95.16)
Attock Petroleum	Rs 10.98	Bata Pakistan	Rs (22.90)
Wyeth Pakistan	Rs 7.06	Nestle Pakistan	Rs (10.00)
Engro Corporation	Rs 6.19	Al-Ghazi Tractor	Rs (4.02)

KSE 30 – Shares Index	Previous 11,056.10, Thursday’s 11,138.69, plus 82.59 points.
KSE 100 – Shares Index	Previous 11,746.09, Thursday’s 11,807.46, plus 61.37.
MARKET CAPITALIZATION	Previous Rs.3,068.322bn, Thurday’s 3,080.065bn, plus 11.743bn.
VOLUME LEADERS	Fatima Fertiliser 12.908m, Engro Corporation 5.468m, Fauji Fertiliser 5.122m, J.S.& Co 5.009m, D.G.Khan Cement 4.122m shares.
TOTAL VOLUME	61.486m shares
TOTAL	TONE:steady,total listed 638,actives 328,inactives 310,plus 121,minus 121,unchanged 86

Stocks gain 61 points on covering purchases

KARACHI, Nov 3: The stock market on Thursday was back on the rails followed by strong covering purchases in the energy sector triggered by reports of amicable settlement of the gas supply issue with the fertilizer producers, analyst Ahsan Mehanti said.

According to official sources the ministry of petroleum has approved the gas supply quota to the fertilizer companies after Engro Corporation`s unilateral price hike of Rs400 per bag owing to disruption in gas supplies followed by excise raid on its godowns, he added.
But barring Engro Corporation, which managed to finish with smart gain of Rs6.19 at Rs130.18 on 6m shares, all other urea producers came in for fresh selling under the lead of Fauji Feriliser after the rollover of price hike by Engro.
But the weakness of the urea producers appears to be largely technical as some of the leading investors are trying to keep them in the firing range prior to the long Eid holiday weekend and to buy them at the possible lower rates, another analyst Samar Iqbal said.
“The jolt is temporary as nobody could think of the weak fertilizer sector”, he said, and added: “At the current level all of them ensure handsome capital gains in the post-Eid holiday trading”.
The KSE 100-share index was quoted higher by 61.37 points at 11,807.46 as most of the leading shares ended higher under the lead of base shares in the energy and other sectors.
Leading shares in the energy and cement sectors filled the gap created by the weakness of urea producers and so did some of the leading food shares.
Leading gainers were led by Colgate Pakistan, and Millat Tractors, up by Rs26.17 and 11.72, while top losers included Unilever Pakistan and Rafhan Maize, off Rs121.66 and 95.16, respectively.
Traded volume was maintained around the overnight level of 62m shares but gainers and losers evenly matched in the ready section at 121, with 86 shares holding on to the last levels.
The active list was led by Fatima Fertiliser, lower by Rs1.04 at 23.97 on 13m shares followed by Engro Corporation, higher by Rs6.19 at Rs130.18 on 6m shares, Fauji Fertiliser, easy by 41 paisa at 180.51 on 5m shares, J. S. & Co, steady by 37 paisa at 5.83 also on 5m shares, D. G. Khan Cement, firm by 57 paisa at Rs21.55 on 4m shares, Azgard Nine, easy by four paisa at 3.89 on 3m shares, and Fauji Fertiliser Bin Qasim, up 48 paisa at Rs60.44 also 3m shares.
They were followed by Arid Habib Corporation, higher by 50 paisa at Rs30.57 on 1.604m shares, Lotte Pakistan, easy by two paisa at 11.02 on 1.560m shares and Bank AlFalah, firm by three paisa at 11.02 on 1.251m shares.
FUTURE CONTRACTS: Fauji Fertiliser came in for renewed selling and was marked down by 1.28 at Rs180.83 on 1.755m shares, followed by Engro Corporation, higher by Rs6.24 at Rs131.17 on 1.524m shares and Fauji fertilizer Bin Qasim, up 49 paisa at Rs60.81 on 1.469m shares.
They were followed by Azgard Nine, easy by three paisa at 3.96 on 0.630m shares and D. G. Khan Cement, up 52 paisa at 21.66 on 0.595m shares.
DEFAULTER COS: Japan Power led the list of actives, steady by two paisa at 0.70 on 70,104 shares, followed by Genertech Power, easy one paisa at 0.34 on 39,924 shares and Invest Bank, lower seven paisa at 0.21 on 17,133 shares.

Mohammed Saleem Mansoori