STOCK MARKET UPDATE: 15.01.2013

STOCKS

Karachi Stocks Down 102.86 Points:
KARACHI, Jan 15: The KSE-100 index was at 16530.32, down 102.86 points. (Today Market @ 11.18 am)

January 14, 2013

5 TOP GAINERS  &  LOOSERS:

Nestle Pakistan	Rs 175.00	Bata (Pak)	Rs (24.00)
Shezan Inter.	Rs 19.30	Attock Petroleum	Rs (6.53)
Clariant Pakistan	Rs 8.74	Philip Morris	Rs (4.06)
Millat Tractors	Rs 8.66	EFU Life Assurance	Rs (3.90)
Sunrays Textile	Rs 6.40	Pak Gum & Chemical	Rs (1.99)

Stocks end flat in cautious trading

KARACHI, Jan 14: Stocks ended almost flat on Monday after a day of volatile trading amid political uncertainty and security concerns but most investors remained cautious and stood on the sidelines.
Initially when the market opened it fell over 120 points but losses were recovered towards the end of the session as bargain hunters accumulated stocks at attractive prices.
But volume fell drastically as more than one-third of the total turnover belonged to Fauji Cement on institutional buying.
The KSE 100-share index ended 0.01 per cent, or 1.53 points, lower at 16,633.18 points. It traded in a broad range as it made an intra-day high and low at 16,645.89 and 16,513.59, respectively.
Turnover stood at 87.94 million shares, compared with 116.17m shares traded on Friday and trading value fell by more than Rs1.5 billion to Rs1.69bn from Rs3.2b in the previous trading session.
Market capitalisation however rose to Rs4.17 trillion, compared with Rs4.16 trillion on Friday.
“Investors remained confused about the ongoing political situation in the country. The market that fell down more than 100 points in the morning session recovered during the day after city’s situation returned to normal.
FCCL (Fauji Cement) remained in the limelight due to instructional buying with volume of 31m shares which stands 36pc of total turnover,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Dealers said cement sector remained in the limelight and restricted losses on hopes of strong corporate profits due to be announced in the coming days.
“Concerns on the likely fallout of the million march in the making, remarks of the visiting IMF team, and tension across the border is likely to restrict any major activity,” said Hasnain Asghar Ali at Escorts Capital Ltd.
Dealers expect trading activity to remain dull awaiting the outcome of the long march.
The energy sector also remained under pressure as OGDCL fell Rs1.05 to Rs188.95 and Pakistan Oilfields ended Rs1.88 lower at Rs432.63.
Foreign investors also were not active on Monday as they bought shares worth a net $982,819 compared with $3.88m on Friday, bringing the total for this month to $6.38m.
Companies were the major sellers in the market as they sold equities worth $982,450. The biggest gainer was Nestle Pakistan which ended Rs175 higher at Rs4,775, followed by Shezan International which closed Rs19.3 higher at Rs409.3.
Bata Pakistan witnessed the biggest loss as it shed Rs24 to Rs1,276, followed by Attock Petroleum Ltd, which ended Rs6.53 lower at Rs500.48.
The KSE-30 index ended 0.12pc, or 15.68 points, lower at 13,582.35 points.
Out of the 287 companies traded, the value of 124 increased, 133 decreased while 30 remained unchanged.
The second and third tier companies dominated the 10 most active traded stocks, whereas the cement sector remained in the limelight: Fauji Leaf topped the list as it ended 30 paisa higher at Rs7.04 on turnover of 31.32 million shares, TRG Pakistan gained 77 paisa to Rs5.98 on 11.53m shares and Byco Petroleum shed 9 paisa to close at 13.14 on 3.88m shares.
Jahangir Siddiqui Co Ltd rose 13 paisa to Rs15.11 on 3.18m shares, DG Khan Cement ended 62 paisa higher at Rs53.62 on 2.7m shares and Maple Leaf Cement was unchanged at Rs15.32 on 2.48m shares.
Lafarge Pakistan closed 21 paisa higher at Rs5.04 on 2.06m shares, Pak Elektron Ltd gained 44 paisa at Rs10.35 on 1.7m shares and Engro Foods Ltd rose Rs1.28 to Rs97.57 on 1.64m shares.
Pakistan International Airlines ended 31 paisa higher at Rs3.83 on 1.61m shares.

MOHAMMED SALEEM MANSOORI