STOCK MARKET UPDATE: 03.12.2012

STOCK

Karachi Stocks Up 56.38Points:
KARACHI, Dec 03: The KSE-100 index was at 16630.24, up 56.38 points.

November 30, 2012

 5 TOP GAINERS  &  LOOSERS:

Bata Pak	Rs 82.00	Unilever Pak	Rs (534.71)
Wyeth Pak	Rs 44.50	Nestle Pak	Rs (245.00)
Island Textile	Rs 44.18	Unilever Food	Rs (220.00)
Indus Dyeing	Rs 27.00	Sunrays Textile	Rs (8.59)
Sanofi Aventis	Rs 17.43	Millat Tractors	Rs (6.16)

KSE 100-Index closes at record 16,573pts

KARACHI: Local stocks hit a record high for the fourth day in a row on Friday, closing the week up nearly 3 percent, driven by a rally in cement shares and expectations that the central bank will ease rates next week.
The Karachi Stock Exchange's (KSE) benchmark 100-share index surged as high as 16,651.10 in intraday trading.
It closed at 16,573.86, up 0.28 percent or 46.78 points from the previous session.
"Investors remained bullish in cement stocks, while the textile sector also joined the bandwagon," said Samar Iqbal, an equity dealer.
"With the end of the year approaching, there was also renewed interest in the banking sector."
Fauji Cement rose 2.05 percent, or 0.14 rupees, to 6.98 per share, while National Bank was up 4.99 percent, or 2.37 rupees, to 49.87 per share.
Karachi Electric fell 0.72 percent, or 0.05 rupees, to 6.88 per share.
The market also found support from expectations that the State Bank of Pakistan will cut its discount rate with inflation under control.
The government will publish November inflation figures on Monday, while the central bank meets later in the week to decide on monetary policy.

KSE gains 336 points during the week

KARACHI: Karachi Stock Exchange (KSE) was seen buoyant all through the week making a handsome gain aggregating to 336 points.
The investors during this week also remained optimistic and traded briskly taking the KSE-100 index to peak at 16,573 points at closing.
Stock market analysts said that the investors took more interest in the cement and textile sectors due to their better financial results. Besides, the stock pundits also attributed the persistent upbeat in the market to investors’ expectations relating to further cut in discount rate by the Central Bank.

MOHAMMED SALEEM MANSOORI