STOCK MARKET UPDATE: 04.03.2013

STOCKS

Karachi Stocks Down 9.05 Points:
KARACHI, Mar 01: At the close of trading, the KSE-100 index was at 18164.62, down 9.05 points.

(Today Market is 41.16 Down@ 11.13 am)

March 01, 2013

 5 TOP GAINERS  &  LOOSERS:

UniLever Pak	Rs 300.00	Wyeth Pak Limited	Rs (48.00)
Indus Dyeing SD	Rs 20.50	Mithchells Fruit	Rs (12.90)
Colgate Palmoliv	Rs 20.00	Millat Tractors	Rs (10.27)
Sanofi-Aventis	Rs 17.84	Murree Brewery	Rs (7.37)
Indus Motor Co.	Rs 12.32	Shell Pak	Rs (7.22)

KSE 100-index off highs on late-selling

KARACHI, March 1: The KSE-100 index roared past another highest ever mark on Friday, as bullish fires continued to rage on the Karachi Stock Exchange pushing the index up by more than 130 points in initial trading to hit intra-day high at 18,311.66 points.
However, the index pulled back in late profit-selling as most investors thought it prudent to trim the portfolios ahead of the two day weekly holidays.
The index thus dipped into the red for some time with the low at 18,160.16 points, but recovered to close 11.52 points higher at 18,185.19 points.
Although bulk of side board items returned with higher volumes, the activity in already high-priced fertiliser, food and cement stocks continued. Stock swapping was witnessed later in the day as prices in energy shares saw a bit of softening, except for a few including PSO which ended firmer on account of raise in petroleum prices.
Investors were encouraged by the hefty gains of 931 points in benchmark or 5.4 per cent gains during the month of Feb. It represented ninth consecutive month (from June 2012 to Feb 13) of an incessant bull-run.
Foreign inflows continued to supplement the local buying with $5.93 million worth stocks bought by overseas investors on Friday. This was on top of foreign equity investment worth $5.72 million the day earlier.
Among the local participants banks were buyers of stocks valued at $10.77 million on Friday. On the sell side, companies offloaded stocks in the sum of $8.41 million, followed by mutual fund sales of $2.30 million worth shares.
Turnover jumped to 399 million shares from 318 million shares traded the previous day.
However, Fauji Cement alone accounted for a third of the day’s volume. Trading value also rose to Rs10.2 billion on Friday, from Rs9.5 billion the day earlier.
Market capitalisation decreased to Rs4.506 trillion, from Rs4.515 trillion on Thursday. A total of 346 scrips came up for trading on Friday, with 137 gainers and 187 losers.
The highest gain was noted in UniLever Pak, which surged by Rs300 to Rs10,750, followed by Indus Dyeing up by Rs20.50 to Rs460.50. Among the laggards, Wyeth Pak lost Rs48 to Rs912 and Mitchell’s Fruit down by Rs12.90 to Rs314.
On the active list, Fauji Cement led the ten-top volume leaders with trading seen in 114m shares, up by 62 paisa to Rs8.54. This side-board cement item attracted day traders and punters, who played on both sides of the fence, thus generating the huge volume in the stock.
Azgard Nine was a distant second in terms of volume leaders with trading in 27 million shares, down by 40 paisa to Rs8.36.
PTCL shed 12 paisa to Rs23.32 on 23m shares, Telecard Limited was down by 44 paisa to Rs6.97 on 20m shares.
PIA, the national flag carrier, made surprise gain of 77 paisa to Rs7.09 on 20m shares. Jah Sidd Co was up by 20 paisa to Rs17.54 on 14m shares, Engro Corporation, the investors’ darling this week, added another Rs1.34 to Rs122.53 on 13m shares.
TRG Pakistan was down by 77 paisa to Rs6.59 on 11m shares.
The usually high volume stock, Maple Leaf Cement saw business in 10m shares, lower by 38 paisa to Rs17.50 and the other second-tier cement stock, Lafarge Pakistan slipped 4 paisa to Rs5.70 on 9m shares.
Pakistan stocks close higher on rollover day: KARACHI: Pakistan's stock market closed higher on Friday, boosted by continuous foreign buying and buoyed by expectation that the new caretaker government will soon take over in advance of elections scheduled for this spring.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.06 percent, or 11.52 points, higher at 18,185.19 points.
Some profit taking was seen in heavyweight energy companies, including the Oil and Gas Development Company Ltd and Pakistan Petroleum. Renewed interest was also witnessed in Engro Corporation, Pakistan Telecommunication Corporation Ltd.
Trading volumes reached to close 400 million shares, with a value of 10 billion rupees, the highest for nearly nine months.
Engro Corporation rose 1.06 percent to 122.48 rupees, while Pakistan Telecommunication Corporation fell 0.51 percent to 23.32 rupees.
In the currency market, the rupee remained steady at 98.15/98.20 against the dollar, compared to Thursday's close of 98.14/98.19.
Overnight rates in the money market fell to 9 percent from Thursday's close of 9.40 percent. (Reuters)

MOHAMMED SALEEM MANSOORI