Daily Stock Market update: 04 Jan,2012

Stock

Karachi Stocks Up 120.03 Points:
KARACHI, Jan 03: At close of trading, the KSE-100 index was at 11402.04, up 120.03 points. 

January 3, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

PSO	Rs 8.65	Nestle Pakistan	Rs (168.38)
Pak Oilfields	Rs 7.12	Wyeth Pak Limit	Rs (39.95)
MCB Bank Ltd.	Rs 6.85	Siemens Pak	Rs (36.00)
Indus Motor Co.	Rs 6.00	Al-Ghazi Tractor	Rs (5.18)
Tri-Pack Films	Rs 5.60	Service Industries	Rs (4.19)

KSE 30 – Shares Index	Previous 10,195.20, Tuesday’s10,378.23, plus 183.03 points.
KSE 100 – Shares Index	Previous 11,282.01, Tuesday’s 11,402.04, plus 120.03 points.
MARKET CAPITALIZATION	Previous Rs.2,930.159,bn, Tuesday’s 2,960.087bn, plus 29.928bn.
VOLUME LEADERS	Lotte Pakistan 7.030m, Fatima Fertiliser 4.816m, J.S.& Co 4.171m, Bank AlFalah 3.669m, Fauji Fertiliser Bin Qasim 3.217m shares.
TOTAL VOLUME	63.047m shares
TOTAL	TONE:firm,total listed 638,actives 322,inactives 316,plus 155,minus 53,unchanged 114

Karachi Stock Exchange massive gain of 1.06 per cent or 120.03 point at 11,402.04.

KARACHI, Jan 3: The shares market roared back to recoup previous year’s losses as investors covered positions at attractively lower levels on blue chip counters amid an actively traded session.
“I would call it a belated new year short-covering,” said Ahsan Mehanti, a leading analyst at the Arif Habib Corporation.
“News from political quarters may not be that encouraging, but investors hated to miss riding the bandwagon.”
All the low-priced base shares, notably in the fertiliser, banking and oil sectors, came in for strong support and pushed the benchmark with a massive gain of 1.06 per cent or 120.03 point at 11,402.04.
He said strong earning outlook for the eventful year that just faded into history was the chief motivating factor behind the sustained run-up, which is expected to be continued for another couple of sessions.
“There is no harm to buy the blue chips at the prevailing prices,” said another leading stock analyst Samar Iqbal.
“Even on short-term basis the potential of capital gains is petty secure.”
He said some of the low-priced shares, notably Lotte Pakistan, DG Khan Cement, Bank Al-Falah and some others also came in for active support and rose higher amid large volumes.
Another leading analyst, Faisal R Abbas, said the credit for putting the new year back on the rails largely goes to fertiliser sector on reports that fresh price hike may be permitted to compensate the losses owing to increase in gas prices and its lead was followed by the oil sector.
It was perhaps in this background that the market showed signs of strong recovery both in terms of volume and gains under the lead of PSO and Pakistan Oilfields, which were quoted higher by Rs8.65 and 7.12, while top losers included Nestle Pakistan and Wyeth Pakistan, off by Rs168.38 and 39.95 respectively.
Turnover figure also rose to 63.047m shares from the previous 33m shares as gainers held a strong lead over losers at 155 to 53, with 114 shares remaining unchanged.
The active list was topped by Lotte Pakistan, higher by 68 paisa at Rs9.98 on 7m shares followed by Fatima Fertiliser, steady by one paisa at 23.85 on 5m shares, JS & Co, firm by 28 paisa at 4.28 on 4m shares, Bank Al Falah, steady 40 paisa at 11.75
also on 4m shares, Fauji Fertiliser Bin Qasim, higher by Rs1.18 at 44.40 on 3m shares, National Bank, up Rs2.03 at 43.02 also on 3m shares and DG Khan Cement, up one rupee at 19.90 on 3m shares.
They were followed by PTCL, lower by eight paisa at 10.01 on 3m shares, Bank of Punjab, lower by 38 paisa at 5.94 also on 3m shares, and Azgard Nine, firm by 10 paisa at 2.91 on 3m shares.
FUTURE CONTRACTS: National Bank led the list of actives, up Rs2.05 at 43.39 on 1.319m shares followed by Fauji Fertiliser Bin Qasim, higher by Rs1.22 at 44.65 on 1.123m shares and Engro Corporation, higher by Rs1.90 at 97.58 on1.099m shares.
They were followed by Fauji Fertiliser, higher by Rs3.61 at 158.59 on 0.649m shares and Lotte Pakistan, up 60 paisa at 10.00 on 0.605m shares.
DEFAULTER COs: The activity on this counter was slow as investors remained busy in the ready section following the price flare-up. Kohinoor Power, was the volume leader, easy by one paisa at Rs1.50 on 6,795 shares followed by Quice Foods, unchanged at 3.05 on 4,000 shares.
DIVIDEND: The directors of Husein Sugar and Dewan Sugar have passed over the dividend for the year ended Sept 30, 2011.

Mohammed Saleem Mansoori