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Karachi Stocks Up 16.77 Points:KARACHI, May 26: At close of trading, the KSE-100 index was at 12184.89, up 16.77 points. (Bureau Report) (Updated @ 15:30 PST)
May 26, 2011
| KSE 30 – Shares Index | Previous 11,803.58,Thursday’s 11,821.85,plus 18.27 points. |
| KSE 100 – Shares Index | Previous 12,168.12,Thursday’s 12,198.12,plus 30.00 points. |
| MARKET CAPITALIZATION | Previous Rs.3,225.616bn,Thursday’s 3,234.665bn,plus 9.049bn. |
| VOLUME LEADERS | Bank of Punjab 10.436m, J.S.& Co 7.032m, Byco Petroleum 4.755m, Lotte Pakistan 4.531m, Nishat Chinian Power 4.330m shares. |
| TOTAL VOLUME | 101.515m shares |
| TOTAL | TONE:steady,total listed 638,actives 355,inactives 283,plus 185,Minus 91,unchanged 79 |
 | |
| Nestle Pakistan | Rs 38.51 | UniLever Pak | Rs (66.02) |
| Bata (Pak) Ltd | Rs 24.31 | Sanofi-Aventis | Rs (5.93) |
| National Refinery | Rs 16.67 | Exide (Pak) | Rs (3.82) |
| Shell Pakistan | Rs 8.35 | Blessed Tex. | Rs (2.95) |
| Attock Refinery | Rs 6.27 | Quetta Textile | Rs (2.84) |
NOTE: All rates in Rupees. Unless indicated otherwise, each share is valued at Rs.10.
* Shares valued at Rs.5, ** Shares valued at Rs.50, *** Shares valued at Rs.100—————————————————————-
KSE index adds another 30 points
KARACHI, May 26: The stock market on Thursday maintained its upward thrust on active follow-up support amid a loud whispering about the business-friendly federal budget due early next month.The benchmark KSE 100-share index ended with a fresh rise of 30 points at 12,198.12 but well below the session’s high of 12,259.29 owing to late profit-selling in some of the pivotals.
The turnover figure was sustained well over the 100m shares although bulk of it was shared by low-priced stocks under the lead of Bank of Punjab.
Floor brokers said conflicting rumours about the budget, notably some widely speculated changes in the collection mode of capital gains tax and relief for the corporate sector again dominated the trading as investors adjusted their positions accordingly.
Although there was no official word on the changes in the CGT mechanism and whether it may be the part of budgetary proposals, the prevailing speculation kept volatility on the higher side in trading.
“Widely speculated changes suggest capital gain tax and withholding tax at the rate of 0.02 per cent on sales having an option of settlement of tax liabilities if so desired by the seller,” says stock analyst Hasnain Asghar Ali.
Renewed institutional interest on selected counters and some positive announcements linked to the budget continued to have positive impact on the underlying sentiment as was reflected by the fresh rise in the index despite late-selling.
Prominent gainers were led by Nestle Pakistan and Bata Pakistan, up by Rs38.51 and Rs24.31 while Unilever Pakistan and Sanofi-Aventis were among the top losers, off by Rs66.02 and Rs5.93 respectively.
Traded volume fell to 101.515m shares from the previous 123m shares but advancing shares maintained a strong lead over the losing ones at 185 to 91,with 79 shares holding on to the last levels.
The active list was topped by Bank of Punjab, up 45 paisa at Rs6.60 on 11m shares followed by JS & Co, steady by three paisa at Rs8.15 on 7m shares, Byco Petroleum, firm by 27 paisa at Rs9.47 on 5m shares, Lotte Pakistan, easy by eight paisa at Rs15.20 also on 5m shares, Nishat Chunian Power, up 21 paisa at Rs17.13 on 4m shares, Azgard Nine, unchanged at Rs6.58 on 4m shares and Bank Alfalah, lower by 14 paisa at Rs10.67 also on 4m shares.
They were followed by D.G. Khan Cement, up 59 paisa at Rs23.45 on 4m shares, NIB Bank, firm by four paisa at Rs1.75 also on 4m shares and National Bank, higher by 97 paisa at Rs53.97 on 3m shares.
FUTURE CONTRACTS: The activity on this counter remained confined to leading cement shares, notably D.G. Khan and Lucky Cement, which came in for strong speculative support amid rumours of some incentives in the budget.
Barring United Bank, which also rose by 70 paisa at Rs65.20 on 1.409m shares, both the settlements of D.G.K and Lucky Cement were also traded higher on large volumes of well over a million shares each.
DEFAULTER COMPANIES: Japan Power led the list of actives on this counter, steady by five paisa at Rs1.25 on 0.284m shares followed by Invest Bank, unchanged at Rs0.35 on 0.196m shares and Ravi Textiles, up four paisa at Rs0.97 on 15.173 shares. Others showed fractional changes mostly on the higher side.
Index gains 30 points
A bullish trend continued on the Karachi share market for the fourth consecutive day on the back of local investors and institutional support and the KSE-100 index gained 30.00 points to close at 12,198.12 points. Expectations regarding some supportive measures in the upcoming federal budget invited investors' interest on the fourth consecutive day and after positive opening the index breached 12,200 psychological level to hit 12,259.29 points intra-day high, up 91.17 points.
However, profit taking in some stocks minimised the intra-day gains. Trading activities, however reduced, as the volumes at ready counter stood at 101.515 million shares, as compared to 122.922 million shares traded on Wednesday. Total market capitalisation increased by Rs 9 billion to Rs 3.234 trillion. Out of the total 355 active scrips, 185 closed in positive and 91 in negative, while the value of 79 stocks remained unchanged.
BoP was the volume leader with 10.436 million shares and gained Re 0.45 to close at Rs 6.60. In the other banking sector stocks, Bank Al Falah lost Re 0.14 to close at Rs 10.67 with 3.859 million shares, while NIB Bank and NBP increased by Re 0.05 and Re 0.97 to close at Rs 1.76 and Rs 53.97 with 3.403 million shares and 3.111 million shares, respectively.
Jahangir Siddiqui Co inched up by Re 0.03 to close at Rs 8.15 with 7.032 million shares. Byco Petroleum gained Re 0.27 to close at Rs 9.47 with 4.755 million shares. Lotte Pakistan PTA lost Re 0.08 to close at Rs 15.20 with 4.531 million shares. Nishat Chunian Power inched up by Re 0.21 to close at Rs 17.13 with 4.330 million shares. Azgard Nine closed at the same level of Rs 6.58 with 4.011 million shares. DG Khan Cement increased by Re 0.59 to close at Rs 23.45 with 3.472 million shares.
Nestle Pakistan and Bata (Pak) were the highest gainers increasing by Rs 38.51 and Rs 24.31 to close at Rs 3549.70 and Rs 510.67, respectively while Unilever Pak and Sanofi-Aventis were the worst losers declining by Rs 66.02 and Rs 5.93 to close at Rs 5100.98 and Rs 145.06, respectively.
Ahsan Mehanti at Arif Habib Investments said that positive trend continued at the local share market on renewed institutional interest. He said rising local power tariff, higher oil refinery margins and recovery in global commodity prices affected the market sentiment. He said that recovery in global capital markets, expectations on favourable federal budget announcements for listed corporate sector and British PM comments on Pak-UK relations played a catalyst role in positive close at the KSE.
However, profit taking in some stocks minimised the intra-day gains. Trading activities, however reduced, as the volumes at ready counter stood at 101.515 million shares, as compared to 122.922 million shares traded on Wednesday. Total market capitalisation increased by Rs 9 billion to Rs 3.234 trillion. Out of the total 355 active scrips, 185 closed in positive and 91 in negative, while the value of 79 stocks remained unchanged.
BoP was the volume leader with 10.436 million shares and gained Re 0.45 to close at Rs 6.60. In the other banking sector stocks, Bank Al Falah lost Re 0.14 to close at Rs 10.67 with 3.859 million shares, while NIB Bank and NBP increased by Re 0.05 and Re 0.97 to close at Rs 1.76 and Rs 53.97 with 3.403 million shares and 3.111 million shares, respectively.
Jahangir Siddiqui Co inched up by Re 0.03 to close at Rs 8.15 with 7.032 million shares. Byco Petroleum gained Re 0.27 to close at Rs 9.47 with 4.755 million shares. Lotte Pakistan PTA lost Re 0.08 to close at Rs 15.20 with 4.531 million shares. Nishat Chunian Power inched up by Re 0.21 to close at Rs 17.13 with 4.330 million shares. Azgard Nine closed at the same level of Rs 6.58 with 4.011 million shares. DG Khan Cement increased by Re 0.59 to close at Rs 23.45 with 3.472 million shares.
Nestle Pakistan and Bata (Pak) were the highest gainers increasing by Rs 38.51 and Rs 24.31 to close at Rs 3549.70 and Rs 510.67, respectively while Unilever Pak and Sanofi-Aventis were the worst losers declining by Rs 66.02 and Rs 5.93 to close at Rs 5100.98 and Rs 145.06, respectively.
Ahsan Mehanti at Arif Habib Investments said that positive trend continued at the local share market on renewed institutional interest. He said rising local power tariff, higher oil refinery margins and recovery in global commodity prices affected the market sentiment. He said that recovery in global capital markets, expectations on favourable federal budget announcements for listed corporate sector and British PM comments on Pak-UK relations played a catalyst role in positive close at the KSE.
MOHAMMED SALEEM MANSOORI
RAFI SECURITIES (PVT.)LTD.
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