STOCK MARKET UPDATE: 02.12.2011

Stock

Karachi Stocks Up 24.54 Points:
KARACHI, Dec 01: At close of trading, the KSE-100 index was at 11557.37, up 24.54 points. 

December 01, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Bata (Pak) Ltd	Rs 29.56	Rafhan Maize	Rs (115.30)
Attock Petroleum	Rs 6.16	Neslte Pakistan	Rs (65.43)
Packages	Rs 2.88	Unilever Pakistan	Rs (53.60)
MCB	Rs 2.68	Sapphire Fibre	Rs (2.75)
Pak Datacom	Rs 1.49	Exide Pakistan	Rs (2.69)

KSE 30 – Shares Index	Previous 10,800.24, Thursday’s 10.819.87, plus 19.63 points
KSE 100 – Shares Index	Previous 11,532.83, Thursday’s 11,557.37, plus 24.54 points
MARKET CAPITALIZATION	Previous Rs3,003.359bn, Thursday’s 3,007.649bn, plus 3.290bn
VOLUME LEADERS	JS & Co 3.319m, Japan Power 2.511m, SilkBank 1.758m,MCB 1.276m, DGK Cement 1.266m shares.
TOTAL VOLUME	27.472m shares
TOTAL	TONE: Steady, total listed 638, actives 313, inactives 325, plus 111, minus 108, unchanged 9

Karachi Stocks gain 24 points at 11,557

KARACHI, Dec 1: The stock market on Thursday maintained an optimistic outlook on an active follow-up support in the oil sector triggered by hike in prices but the volume figure failed to show any significant increase.
Leading oil shares, notably the index heavy-weight OGDC, Pakistan Oilfields and Pakistan Petroleum, followed by MCB, led the market advance for the third session in a row.
The benchmark index posted a fresh gain of 24.54 points at 11,557.37, as compared to 11,532.83 points a day earlier, reflecting the relative strength of the leading base shares under the lead of OGDC and MCB.
Indications are that the current deadlock on the supply of petroleum products to the Nato forces in Afghanistan could be a negative factor on various counts and may halt a decisive rally on the oil sector, some analysts fear.
But some others said the market being in an oversold one is expected to continue the current creeping rally in the coming sessions, also aided by strong selective support.
Although there was no change in the discount rate as was widely speculated followed by the demand of major trade bodies, investors did not go in line with central bank’s
observations on the state of economy, notably fiscal deficit, floor brokers said.
They said there was a talk of return of some of the foreign investors in oil and banking sectors but their presence was terribly selective and did not prove an effective positive factor as was reflected by a modest turnover figure.
Prominent gainers included Bata Pakistan and Attock Petroleum, up Rs29.56 and 6.16, while losers were led by Rafhan Maize and Nestle Pakistan, off Rs115.30 and 65.43 respectively.
Turnover figure fell to 27.472m shares from the previous 39m shares, but gainers maintained a modest lead over the losers at 111 to 108, with 94 shares holding on to the last levels.
The active list was led by JS & Co, lower by 22 paisa at Rs5.61 on 3,319m shares followed by Japan Power, steady by one paisa at 0.61 on 2.511m shares, SilkBank, firm by six paisa at
1.65 on 1,758m shares, MCB, higher by Rs2.68 at 151.05 on 1.276m shares, DG Khan Cement, firm by five paisa at 20.80 on 1.266m shares, Fauji Fertiliser Bin Qasim, steady by eight paisa at 54.19 on 1.253m shares.
They were followed by Engro Corporation, off Rs1.56 at 127.30 on 1.047m shares, Fatima Fertiliser, lower 12 paisa at 23.00 on 1.039m shares, Netsol Technologies, higher by 63 paisa at 10.53 on 0.1005m shares and OGDC, up Rs1.23 at 154.34 on 0.920m shares.
FUTURE CONTRACTS: Engro Corporation led the list of losers on this counter, off Rs1.64 at 126.73 on 0.606m shares and followed by Fauji Fertiliser Bin Qasim steady by seven paisa at 51.77 on 0.285m shares.
They were followed by MCB, higher by Rs2.74 at 152.41 on 0.224m shares and Attock Refinery, off Rs1.15 at 119.27 on 0.207m shares.
DEFAULTER COs: Dull trading conditions prevailed on this counter as leading investors remained conspicuous by their absence. Genertech Power was, however, an exception, which came in for fresh support and rose by seven paisa at Rs0.44 on 10,007 shares.
It was followed by Al-Azhar Textiles, lower 25 paisa at 0.25 on 2,000 shares and Ellahi Cotton, off one rupee at 5.50 on 500 shares.

Mohammed Saleem Mansoori