DAILY STOCK MARKET UPDATE: 26.01.2012

Stock

Karachi Stocks Down 41.63 Points:
KARACHI, Jan 25: At close of trading, the KSE-100 index was at 11949.75, down 41.63 points. 

January 25, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Nestle Pakistan	Rs 142.78	Attock Petroleum	Rs (4.52)
Service Industries	Rs 9.95	Pak Petroleum	Rs (2.56)
Indus Motors	Rs 5.45	OGDC	Rs (2.21)
Shield Corp	Rs 3.74	Jubilee Gen. Ins	Rs (2.08)
PICT	Rs 3.53

KSE 30 – Shares Index	Previous11,181.40, Thursday’s 11,132.12, minus 49.28 points
KSE 100 – Shares Index	Previous 11,991.38, Thursday’s 11,949.75, minus 41.63 points
MARKET CAPITALIZATION	Previous Rs.3,113.509bn, Thursday’s 3,103.489bn, minus 10.020bn
VOLUME LEADERS	J.S.& Co 14.959m,D.G.Khan Cement 13.889m,Bank AlFalah 7.607m, Lotte Pakistan 7.443m,Engro Corporation 4.344m shares.
TOTAL VOLUME	124.848m shares
TOTAL	TONE: easy, total listed 638, actives 334, inactives 304, plus106, minus 136, unc 92

Karachi Stocks undergo technical correction

KARACHI, Jan 24: The share market on Tuesday failed to extend the overnight run-up as some of the leading base shares came in for active profit-selling and drove it into the minus column.
But analysts said it appeared to be a technical pause as there was no reason to believe that the technical correction was overdue after a bagful of relief announced by the finance minister on Saturday.
The KSE 100-share index posted a modest fall of 46.28 points at 11,991.38 as compared to 12,037.65 a day earlier after opening higher at 12,097.93.
Active selling in index-heavyweight OGDC, Pakistan Oilfields, Fauji Fertiliser and some others pushed it down below the psychological barrier of 12,000 points.
But renewed buying in Engro Corporation limited the fall.
“The selling was tactically motivated,” analyst Ahsan Mehanti said and added that some of the shares in the fertiliser and oil sector had responded beyond their mandate to acceptance of major demands of the investing public in the share business and needed correction
He said a section of leading investors sold in these pivotals and to pick them up at the lower rates both for long-term investment and quick capital gains.But indications are that current run-up is expected to continue in the coming sessions also despite technical corrections here and there as the market got the relief for which it has been yearning for the last couple of years.
The bulk of the activity again remained centered to the low-priced shares as a section of investors was still in two minds about the future direction of the market, said analyst Samar Iqbal.
He said the leading investors who could foresee the future direction of the market were all-out for fresh covering purchases at the current level both for quick gains and long-term investment.
Prominent gainers were led by Engro Corporation and Linde Pakistan, up by Rs5.41 and Rs5.13, while losers were led by Nestle Pakistan and Colgate Pakistan, off Rs75 and Rs28.31 respectively.
Turnover figure was maintained on the higher side at 200.055m shares as losers managed to have a modest edger over the gainers at 131 to 126, with 113 shares holding on to the last levels.
The active list was again topped by JS & Co, steady by 12 paisa at Rs6.61 on 30m shares followed by Bank Alfalah, easy by one paisa at Rs12.15 on 17m shares, Lotte Pakistan, off 65 paisa at 10.03 on 10m shares, Fatima Fertiliser, lower 35 paisa at Rs22.18 on 9m shares, D.G. Khan Cement, steady six paisa at Rs22.11 also on 9m shares, National Bank, higher by Rs1.15 at Rs45.36 on 9m shares and Azgard Nine, lower by eight paisa at Rs3.98 on 8m shares.
They were followed by Arif Habib Corporation, lower 10 paisa at Rs29.16 on 8m shares, Engro Corporation, higher by Rs6.59 at Rs116.09 on 7m shares and Fauji Fertiliser, off Rs4.54 at Rs175.41 on 6m shares.
FUTURE CONTRACTS: Engro Corporation also came in for strong support and was quoted higher by Rs5.35 at Rs116.22 on a large volume of 2.591m shares followed by both the settlements of National Bank, higher by Rs1.03 and Rs1.60 at Rs45.32 and Rs45.91 respectively on 1.947m and 1.042m shares.
Fauji Fertiliser Bin Qasim followed them, easy 19 paisa at Rs50.11 on 1.441m shares and Arif Habib Corporation, easy by two paisa at Rs29.38 on 1.186m shares.
DEFAULTER COMPANIES: Dost Steels again came in for strong support and was quoted further higher by 18 paisa at Rs1.69 on 0.167m shares followed by Kohinoor Industries, easy four paisa at Rs0.90 on 51,657 shares and Khoinoor Power, up 10 paisa on 10,006 shares.
All others showed fractional change amid slow activity.

Mohammed Saleem Mansoori