DAILY STOCK MARKET UPDATE:02.02.2012

Stock

Karachi Stocks Up 39.02 Points:
KARACHI, Feb 01: At close of trading, the KSE-100 index was at 11913.91, up 39.02 points. 

February 01, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Nestle Pakistan	Rs 122.26	Service Industries	Rs (9.92)
Indus Dyeing	Rs 15.14	Indus Motors	Rs (4.50)
Clariant Pakistan	Rs 6.02	Atlas Battery	Rs (4.45)
Exide Pakistan	Rs 3.56	Ferozesons	Rs (2.36)
Millat Tractors	Rs 3.38	Premier Sugar	Rs (2.06)

KSE 30 – Shares Index	Previous 11,172.94, Wednesday’s 11,221.73,plus 48.79 points
KSE 100 – Shares Index	Previous 11,874.89, Wednesday’s 11,930.55, plus 55.66 points
MARKET CAPITALIZATION	PreviousRs.3,083.280bn, Wednesday’s 3.097.659bn, plus 14.379bn
VOLUME LEADERS	J.S.& Co 19.200m, Meezan Balanced Fund 7.411m, D.G.K. Cement 7.355m, Azgard Nine 4.802m, Fauji Fertiliser Bin Qasim3.840m shares
TOTAL VOLUME	93.437m shares
TOTAL	Tone: Steady,total listed 638, actives 311, inactives 327, plus131, minus 100, unchanged 80

KSE 100-index recovers 39.02 Points

KARACHI, Feb 1: The share market on Wednesday limped back to near-normalcy followed by modest short-covering in an oversold market but the future direction is still unclear.
The benchmark KSE 100-index posted a modest rise of 39.02 points at 11913.91as some of the leading base shares in the fertiliser and oil sectors performed credibly well on active support.
Among the high-profile shares, Fauji Fertiliser and Fauji Fertiliser Bin Qasim, National Bank and some leading oil shares came in for active support at the lower levels and ended modestly higher.
Much of the activity, however, remained confined to the undervalued shares, indicating that a section of investors is not inclined to follow the basic market fundamentals and awaited fresh developments on the corporate front, notably dividend announcements.
A sharp increase in the turnover figure was welcomed by the investors as it signals the advent of new investment avenue hereto neglected sector of closed-end mutual funds on rumours that they will open their funds for prospective investors after having a consensus view of others, notably Meezan Balanced and Dawood Mutual Fund, analyst Ahsan Mehanti said.
“The market has already undergone technically-motivated profit-selling during the last couple of sessions and there is reason to believe a technical rebound is overdue,” he added.
Analyst Samar Iqbal said a relaxation in the margin trading system was seen as a positive development but a section of investors was still in two minds about the course of political events and played safe rather going all-out at the current lower levels.
Working results of leading Attock Group of Companies, notably Attock Petroleum and Attock Refinery were on the higher side of the analyst predictions but an expected post-result rally was no where in sight as a section of investors took profits at the higher levels. Plus signs dominated the list under the lead of Nestle Pakistan and Indus Dyeing, up Rs122.26 and Rs15.14, while the top losers were led by Service Industries and Indus Motors, which fell by Rs9.92 and Rs4.50.
Turnover figure rose to 93.437m shares from the previous 60m shares as gainers topped losers at 131 to 100, with 80 shares holding onto the last levels.
The active list was led by J.S. & Co, up 91 paisa at Rs6.48 on 19m shares followed by Meezan Bank, steady 13 paisa at Rs9.13 on 8m shares, D.G. Khan Cement, firm by 16 paisa at Rs23.35 on 7m shares, Azgard Nine, up 40 paisa at Rs3.80 on 5m shares, Fauji Fertiliser Bin Qasim, higher 76 paisa at Rs46.87 on 4m shares, Fauji Fertiliser up by Rs1.19 at Rs188.14 also on 4m shares and Attock Refinery, easy 14 paisa at 120.55.
They were followed by Lafarge Pakistan, easy five paisa at Rs2.04 on 4m shares, Dawood Mutual Fund, higher by Re1 at Rs2.85 on 3m shares and Pace Pakistan, steady by three paisa at Rs1.55 on 3m shares.
FUTURE CONTRACTS: Post-dividend selling in Attock Refinery pushed its price modestly lower by 17 paisa at Rs121.32 on 1.222m shares followed by D.G. Khan Cement, steady by 20 paisa at Rs23.58 on 1.030m shares and Fauji Fertiliser Bin Qasim, higher by 78 paisa at Rs47.21 on 1.017m shares.
They were followed by Fauji Fertiliser, up Rs1.32 at Rs189.62 on 0.903m shares and National Bank, steady by 24 paisa on 0.412m shares.
DEFAULTER COMPANIES: The activity on this counter was relatively slow as only a small group of companies came in for two-way movements under the lead of Dost Steels, up seven paisa at Rs1.47 on 15,251 shares.
Other actively traded shares were led by IBL Modaraba, firm by five paisa at Rs1.50 on 10,002 shares Colony Thal Textiles, steady by nine paisa at Rs1.60 on 3,490 shares.
DIVIDEND: Pakistan Hotels Developers announced an interim dividend of 15 per cent for the year ended Dec 31, 2011.

Mohammed Saleem Mansoori