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Monday, 2 January 2012

Daily Stock Market update: 03 Jan,2012


Karachi Stocks Down 25.21 Points:
KARACHI, Jan 03: The KSE-100 index was at 11256.80, down 25.21 points. (today 11.00 am)

January 03, 2012

Fauji Fertiliser
Nestle Pakistan
Rs (143.61)
Unilever Pak Ltd.
Rs 4.20
Siemens Pakistan
Rs (52.43)
Rs 3.29
National Refinery
Rs (6.54)
Rs 2.48
Rs (3.88)
Engor Corporation
Rs 2.18
Shahtaj Sugar
Rs (2.68)

KSE 30 – Shares Index
Previous 10.179.03,Monday’s 10.195.20,plus 16.17 points
KSE 100 – Shares Index
Previous 11,347.66, Monday’s 11,282.01, minus 65.65 points
Previous Rs.2,945.784bn,Monday’s 2.930.159bn,minus 15.625bn
Fatima Fertiliser 9.985m, Fauji Fertiliser Bin Qasim 3.350m, Engro Corporation 2.489m, NIB Bank 1.779m, Arif Habib Corporation 1.414m shares.
TONE:mixed, total listed 638, actives 325, inactives 313, plus 105, minus 103, unchanged 117

Karachi Stocks open new year account with a net fall of 65.65 points
KARACHI, Jan 2: The shares market opened the new year account on Monday on a bit hesitant note as despite smart recovery staged by the fertiliser sector on reports of expected price hike linked to increase in gas rate, some leading base shares ruled easy under the lead of OGDC.
The benchmark index, however, could not follow the credible performance of the broad market and opened the new year account with a net fall of 65.65 points at 11,282.01 but well above the session’s low of 11,193.63 and high of 11,347.66.
“Some negative reports about the wellhead success by the Oil and Development Corporation (OGDC) in a highly anticipated ZIN block dragged the index to the lower new year closing,” said a leading analyst Samar Iqbal.
He said having massive weightage in the benchmark pushed it sharply lower from the early higher opening on selling in it and some other leading oil and blue chips. It fell by Rs3.88 at Rs147.74 on 0.765m shares.
But fertiliser shares on the other hand came in for strong covering purchases at the lower levels and recovered in unison under the lead of Fauji Fertiliser and Engro Corporation on market talk of an increase in the urea prices to compensate the rise in gas prices, he added.
“But I don’t call it a weak new year opening,” commenting on the new year opening said another leading analyst Ahsan Mehanti.
“The revival of demand on the blue chip counters reflects that the sailing is expected to be a bit smooth under the cross-current of mixed news bag”.
However, investors seemed to be in the process of adjusting themselves to the negative fallout from the political sector and go along the basic market fundamentals, he added.
Another analyst Ashraf Zakaria thinks the current lower level by the blue chip sector could attract an enormous shorting-covering but much would depend on the issue of memogate and the political heat being generated by the public meetings of the leading political parties.
Among the top gainers, Fauji Fertiliser and Unilever Pakistan were leading, up Rs4.41 and 4.20, while losers were led by Nestle Pakistan and Siemens Pakistan, off Rs143.61 and 52.43 respectively.
Traded volume shrank to 33.167m shares from the previous 63m shares but gainers held a slight edge over the losers at 105 to 103, with 117 shares holding on to the last levels.
The active list was led by Fatima Fertiliser, up 92 paisa at Rs23.84 on 9.985m shares, followed by Fauji Fertiliser Bin Qasim, higher by 79 paisa at 43.22 on 3.350m shares, Engro Corporation, higher by Rs2.18 at 94.88 on 2.489m shares, NIB Bank, easy by nine paisa at 1.64 on 1.779m shares, Arif Habib Corporation, up 98 paisa at 26.89 on 1,414m shares, Fauji Fertiliser, sharply higher by Rs4.41 at 153.95 on 1.411m shares, and MCB, higher by Rs2.48 at 137.08 on 1.094m shares.
They were followed by JS& Co, easy by three paisa at 4.00 on 1.084m shares, National Bank, lower by six paisa at 40.99 on 0.804m shares and Bank of Punjab, steady by 15 paisa at 5.56 on 0.799m shares.
FUTURE CONTRACTS: The active list was led on this counter by Engro Corporation, up Rs2.05 at 95.68 on a large volume of 1.460m shares followed by Fauji Fertiliser Bin Qasim, up 73 paisa at 43.43 on 1.355m shares and Fauji Fertiliser, sharply higher by Rs4.35 at 154.98 on 0.683m shares.
National Bank followed them, easy three paisa at 41.34 on 0.404m shares and OGDC, off Rs2.80 at 148.30 on 0.194m shares.
DEFAULTER COs: The activity on this counter was slack in the absence of leading investors. Price changes and turnover figures were modest.
The actively traded share was Dost Steel, lower by five paisa at Rs1.10 on 8,097 shares followed by Brothers Textiles, easy by three paisa at 0.40 on9,894 shares. All others were fractionally traded.
DIVIDEND: Shahmurad Sugar Mills, cash final 10 per cent, Sakrand Sugar, nil.

Mohammed Saleem Mansoori

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