STOCK MARKET UPDATE: 31.10.2012

STOCK:

Karachi Stocks Down 24.82 Points:
KARACHI, Oct 30: At the close of trading, the KSE-100 index was at 15787.90, down 24.82 points.

(Today Market is 61.81 Up @ 10.57 am)

October 30, 2012

5 TOP GAINERS  &  LOOSERS:

Siemens Pakistan	Rs 32.00	Nestle Pakistan	Rs (200.00)
Indus Dyeing	Rs 17.68	Shezan Int	Rs (22.49)
Island Textile	Rs 17.36	Murree Brewery	Rs (8.62)
National Foods	Rs 8.77	National Refinery	Rs (6.08)
Sapphire Textile	Rs 5.00	Clover Pakistan	Rs (4.09)

 Stocks end lower on global concerns

KARACHI, Oct 30: Stocks ended lower on Tuesday and activity remained dull after the long Eid holidays and investors were cautious on global concerns following Hurricane Sandy in the United States, dealers said.
The KSE 100-share index ended 0.11 per cent, or 16.79 points, lower at 15,795.93 points. Volume decreased to 84.99 million shares from 136.02 million shares traded on Thursday.
Thursday was the last working day before Eid holidays.
Trading value decreased by more than half to Rs2.19 billion from Rs4.98 billion in the previous trading session and market capitalisation
also fell to Rs3.94 trillion, compared with Thursday’s Rs3.95 trillion.
“The aftermath of super storm “Sandy” and its repercussions of both on regional, international and local economy, pushed the local participants on caution,” said Hasnain Asghar Ali of Escorts Capital.
Monster storm Sandy smashed into the eastern United States on Monday cutting power to swathes of the nation’s most densely population, submerging streets in Manhattan’s financial district and at least 15 people were reported killed.
The storm interrupted the presidential campaign a week before Election Day – posing both risks and opportunities for President Barack Obama as he seeks a second term in a tight race – and closed US financial markets for a second day. One disaster-forecasting company predicted economic losses could ultimately reach $20 billion, only half insured.
“PTCL continued its falling trend following Lahore High Court’s decision regarding its international calling rate and Engro Corp also fell in anticipation of third quarter loss announcement,” said Samar Iqbal, a dealer at Topline Securities.
There are reports that the Lahore High Court has ordered to suspend the International Clearing Mechanism on the last trading day before Eid holidays which has put pressure on PTCL.
Engro witnessed selling as analysts are expecting a net loss in the third quarter instead of a net profit mainly due to losses in its fertiliser company due to lower urea off-take.
“Although initial dips in value stocks did invite renewed accumulation mainly from cement, banking and fertiliser sectors,” said Asghar Ali.Buying was seen in DG Khan Cement, Maple Leaf Cement and Askari Bank from the most active companies in the market on Tuesday.
Despite concerns about the damage caused by Hurricane Sandy, foreign investors remained active in the market as they bought shares worth a net $2.11 million, after selling shares worth a net $2.03 million on Thursday, bringing the total net buying for this month to $35.72 million. Companies were the major sellers of equity with $1.75 million.
The market capitalisation based KSE 30-index shed 0.11 per cent, or 13.94 points, to close at 12,913.25 points.
Out of the 326 companies traded, the value of 146 increased, 158 decreased, while 22 remained unchanged.
The list of volume leaders was topped by Fauji Cement, which fell 13 paisa to Rs6.38 on turnover of 9.8 million shares, PTCLA shed 85 paisa to Rs16.72 on 9.62 million shares and KESC ended 32 paisa lower at Rs5.78 on 6.22 million shares.
Quice Juice fell 70 paisa to Rs9.68 on 5.47 million shares, DG Khan Cement rose 14 paisa to Rs51.87 on 4.94 million shares and Engro Corp shed Rs1.89 to end at Rs91.38 on 3.7 million shares.
TRG Pakistan closed 26 paisa higher at Rs3.86 on 2.49 million shares, Maple Leaf Cement rose 15 paisa to Rs9.09 on 2.43 million shares, and Askari Bank gained 19 paisa to Rs16.64 on 2.25 million shares.
Jahangir Siddiqui Co ended 10 paisa lower at Rs14.25 on turnover of 2.21 million shares.
Company news:
PTCL honoured: KARACHI, Oct 30: Pakistan Telecommunication Company Limited (PTCL) has been honoured with the prestigious 3rd Global HR Excellence Award 2012 for its outstanding achievements and organisational performance.

Federal Minister for Overseas Pakistanis Dr Farooq Sattar presented the award to PTCL Executive Vice President Talent Management and Learning Shahzad Safdar Khan on Tuesday.—PPI

MOHAMMED SALEEM MANSOORI