DAILY STOCK MARKET UPDATE: 24.01.2012

Stock

Karachi Stocks Up 272.30 Points:
KARACHI, Jan 23: At close of trading, the KSE-100 index was at 12046.98, up 272.30 points. 

January 23, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Colgate Pakistan	Rs 33.38	Nestle Pakistan	Rs (53.75)
MCB	Rs 7.99	Siemens Pak	Rs (11.83)
National Refinery	Rs 7.58	Bhanero Textile	Rs (11.02)
Fauji Fertiliser	Rs 7.24	Mitchell’s Farm	Rs (4.33)
Attock Refinery	Rs 5.84	Sanofi-Aventis	Rs (3.96)

KSE 30 – Shares Index	Previous 10,907.45, Monday’s 11,221.38, plus 313.93 points
KSE 100 – Shares Index	Previous 11,774.68, Monday’s 12,037.66, plus 262.98 points
MARKET CAPITALIZATION	Previous Rs3,056.335bn, Monday’s 3,123.304bn, plus 66.969bn
VOLUME LEADERS	JS & Co 35.936m, Lotte Pakistan 26.540m, Bank AlFalah 17.678m, Azgard Nine 15.183m, DGK Cement 11.312m shares
TOTAL VOLUME	230.138m shares
TOTAL	TONE: Bullish, total listed 638, actives 358, inactives 280, plus 221, minus 61 unchanged

KSE Index shoots up by 263 points

KARACHI, Jan 23: The KSE 100-share index on Monday shot up by about three per cent or 262.98 points and breached through the barrier of 12,037.68 points on panic covering purchases, triggered after the acceptance of SECP proposals by the finance minister, notably two-year freeze on Capital Gain Tax and cut in cash margin requirements to 15 per cent.
“But what seems to have significantly boosted the sentiment was government assurance that no source will be asked about the funds invested in shares,” said a leading analyst Ahsan Mehanti.
He said there was a perception that more funds would inflow in the shares business in future from various quarters, which could push the benchmark as well share values to new peak levels in the coming sessions.
However, as relief will be effective from April 1, most of leading investors played safe and did not go out for scrips, ensuring higher capital gains.
The benchmark early soared to new high of 12.070.89 or 2.23 per cent after the volume figure touched the one year high at 210m shares. There was a beeline of investors trying to pick up stocks of their choice at the prevailing prices in a highly
oversold market.
Fertiliser, oil, banking and blue chips on the other counters were main target of investors, but bulk of the support remained confined to low-priced shares, such as JS & Co, Lotte Pakistan, Azgrad Nine and Fatima Fertiliser for obvious reasons.
“At one stage, all roads seem to be leading to the stock market and it was natural,” another analyst Samar Iqbal said, adding “the finance minister gave more than they asked for.”
Advancing shares led the list under the lead of Colgate Pakistan and MCB, up by Rs33.38, and 7.99, while losers included Nestle Pakistan and Siemens Pakistan, off Rs53.75 and 11.83, respectively.
Traded volume soared to 230.138m shares from the previous 179m shares as gainers held a strong lead over the losers at 221 to 61, with 76 shares holding on to the last levels.
The active list was topped by JS & Co, steady 94 paisa at 6.49 on 36m shares followed by Lotte Pakistan, firm by 73 paisa at 10.68 on 27m shares, Bank AlFalah, up 37 paisa at 12.16 on 18m shares.
Azgard Nine, firm by 63 paisa at 4.06 on 15m shares, DG Khan Cement, higher by Rs1.05 at 22.05 on 11m shares, Fatima Enterprise, steady by three paisa at 22.53 on 11m shares and National Bank, higher by Rs.2.08 at 44.21 on9m shares.
They were followed by Fauji Fertiliser Bin Qasim, upRs2.09 at 50.19 on 6m shares, Arif Habib Corporation, higher by Rs1.35 at 29.26 on 6m shares and TRG Pakistan, steady 29 paisa at 1.88 also on 6m shares.
FUTURE CONTRACTS: National Bank led the list of actives, higher by Rs2.09 at 44.29 on 2.255m shares, followed by Fauji Fertiliser Bin Qasim, up Rs2.22 at 50.30 on 1.521m shares and DG Khan Cement, firm by Rs1.02 at 22.11 on 1.140m shares.
They were followed by Lotte Pakistan, steady by 73 paisa at 10.70 on 1.097m shares and Fauji Fertiliser, sharply higher by Rs7.13 at 180.27 on 1.048m shares.
DEFAULTER COs: Dost Steel again came in for active support and rose by 20 paisa at 1.51 on 81,772 shares followed by Kohinoor Industries, steady by seven paisa at 0.94 on 17,570 shares and Kohinoor Power, firm by nine paisa at1.60 on
12,509 shares.

Mohammed Saleem Mansoori