DAILY STOCK MARKET UPDATE: 15 SEPTEMBER,.2011

Stock

Karachi Stocks Up 60.14 Points:
KARACHI, Sept 15: The KSE-100 index was at 11357.16, up 60.14 points.

September 14, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Nestle Pakistan	Rs33.53	Millat Tractors	Rs (13.40)
UniLever Pak	Rs35.87	Island Textile	Rs (10.14)
P.S.O.	Rs11.02	Sanofi-Aventis	Rs (6.75)
Shell Pakistan	Rs 6.56	JWD Sugar	Rs (3.04)
Mari Gas	Rs 5.14	EFU Insurance	Rs (2.77)

KSE 30 – Shares Index	Previous 10,795.47, Wednesday’s 10,851.28, plus 55.81 points.
KSE 100 – Shares Index	Previous 11,264.43, Wednesday’s 11,297.02, plus 32.59 points
MARKET CAPITALIZATION	Previous Rs.2,984.7.89bn, Wednesday’s 2,991.523bn, plus 6.734bn.
VOLUME LEADERS	Lotte Pakistan 14.814m, Fauji Fertiliser Bin Qasim 8.436m, F.Credit & Investment 5.593m,Sui Southern 5.577m, Arif Habib Corpn 3.832m shares.
TOTAL VOLUME	75.725m shares
TOTAL	TONE:steady,total listed 637,actives 336,inactives 301,plus 114,minus 123,unchanged 99

Stocks extend overnight gains on selective buying

KARACHI, Sept 14: The share market on Wednesday extended the creeping rally aided by fresh active short-covering in the fertiliser and oil sectors by both the local and foreign investors in an expanded activity.
The benchmark KSE 100-index though ended well below the session`s high of 11,331.03 points but managed to close with a clipped gain of 32.59 points at 11,297.02.
“The chief driving force behind the current rally was performance of the oil and the fertiliser sectors,” said a leading analyst Ahsan Mehanti. “The market talk that Pakistan Petroleum will start oil exploration in Iran with an Iranian company was another supporting factor”.
He hoped that higher corporate payouts by some of the other leading oil companies and market talk of robust interim earnings by the fertiliser sector owing to higher urea prices would continue to contribute to underlying strength of the market in the coming sessions also.
Active buying in Lotte Pakistan, which of late assumed the role of active scrip on reports of higher exports, along with fertiliser shares also added to the underlying strength of the market, analyst Samar Iqbal said.
He said anticipatory buying ahead of corporate board meetings due during the next couple of weeks also played its role in keeping the market in a good shape.
Although higher dividend by some of the leading oil companies under the lead of Attock group contributed modestly to the relative strength of the KSE 100-share index, it derived its main strength from the fertiliser shares, notably Fauji Fertiliser and its sister company followed by Attock Refinery and some others.
The weakness of some other leading base shares, notably National Bank and Engro Corporation was, however, clipped the mid-session gains in it.Prominent gainers were led by Nestle Pakistan and Unilever Pakistan, up by Rs33.53 and Rs35.87, while top losers included Millat Tractors and Island Textiles, off Rs13.40 and Rs10.14.
Turnover figure showed a sharp rise at 75.725m shares from the previous 26m shares but losers held a modest lead over the gainers at 123 to 114, with 99 shares holding onto the last levels.
The active list was led by Lotte Pakistan, up 50 paisa at Rs12.78 on 15m shares followed by Fauji Fertiliser Bin Qasim, higher Rs2.00 at Rs51.67 on 9m shares, F. Credit and Investment, up Re1 at Rs5.15 on 6m shares, Sui Southern Gas, lower 72 paisa at Rs24.36 also on 36m shares, Arif Habib Corporation, steady by 46 paisa at Rs26.78 on 4m shares, National Bank, lower 43 paisa at Rs44.37 also on 4m shares.
They were followed by Attock Refinery, higher by Rs2.35 at Rs112.41 on 3m shares, followed by Fauji Fertiliser, up Rs2.28 at Rs156.86 on 3m shares and Fatima Fertiliser, firm by 15 paisa at Rs17.17 on 2m shares.
FUTURE CONTRACTS:
Fauji Fertiliser Bin Qasim led the actives on this counter, up Rs2.07 at Rs52.07 on 2.170m shares followed by Bank Alfalah lower 10 paisa at Rs10.08 on 1.50m shares, and National Bank, easy by 28 paisa at Rs44.64 on 1.150m shares.
They were followed by Attock Refinery, higher Rs2.43 at Rs113.02 on 0.675m shares and Engro Corporation, steady nine paisa at Rs132.05 on 0.413m shares.
DEFAULTER COMPANIES:
Japan Power led the list of actives, up three paisa at Rs0.99 on 39,806 shares followed by Invest Bank, firm by four paisa at Rs0.30 on 22,802 shares and Haydery Constructions, off 30 paisa at Rs0.40 on 5,001 shares. Others were fractionally traded.

Mohammed Saleem Mansoori