DAILY KARACHI STOCK MARKET SUMMARY: 30.05.2011

Stock

Karachi Stocks Up 28.92 Points:
KARACHI, May 27: At close of trading, the KSE-100 index was at 12227.04, up 28.92 points. (Bureau Report) (Updated @ 16:30 PST)

May 27, 2011

KSE 30 – Shares Index	Previous 11,821.85, Friday’s 11,846.24, plus 24.39 points.
KSE 100 – Shares Index	Previous 12,198.12, Friday’s 12,225.52, plus 27.40 points.
MARKET CAPITALIZATION	Previous Rs.3,234.665bn, Friday’s3,241.433bn, plus6.768bn.
VOLUME LEADERS	Nishat Mills 6.525m, D.G.Khan Cement 6.457m, J.S.& Co 6.314m,Azgard Nine 4.918m, Byco Petroleum 4.460m shares.
TOTAL VOLUME	79.641m shares
TOTAL	TONE;steady,total listed 638,actives 344,inactives 294,plus130,minus 124,unchanged 90

UniLever Pak	Rs 99.02	Packages	Rs (1.47)
National Refinery	Rs 15.08	Shell Pakistan	Rs (4.31)
Fazal Cloth Mills	Rs 14.00	Nestle Pakistan	Rs (4.26)
Exide (Pak)	Rs 6.66	J.D.W. Sugar Mills	Rs (3.85)
PITC	Rs 3.81	Al-Ghazi Tractor	Rs (2.97)

Automobiles & Parts	Banks	Beverages
Chemical	Construction and Materials	Electronic & Electrical Equip
Electricity	Equity Investment Instruments	Financial Services
Food Products	Forestry and Paper	Fixed Line Telecommunication
Gas Water & Multiutilities	General Industrial	Household Goods
Health Care Equip & Services	Industrial Engineering	Industrial Metals and Mining
Industrial Transportation	Leisure Goods	Life Insurance
Media	Non Life Insurance	Oil & Gas Cos
Personal Goods	Pharma & Biotechnology	Real Estate & Services
Support Services	Software & Comptuter Service	Tobacco
Technology Hardware & Equip	Travel & Leisure

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

Stocks finish weekend session with extended gains

KARACHI, May 27: The stock market finished the weekend session on a steady note on Friday but the activity lacked any special feature as investors awaited the outcome of talks between the visiting US Secretary of State and the troika to ease the post-Abbottabad operation tensions.
However, investors were not very optimistic about the positive outcome of the high-level talks as they were a bit suspicious of the US policy of “carrot and stick” and were not inclined to jump to hasty conclusions at this stage, analysts said.
All eyes, however, remained focused on the budget, the estimated size of which about Rs4 trillion has already been known but investor worries linked to possible relief and new taxes did took their toll on selected counters.
Some of the shares, which are expected to be benefited by the likely budget incentives, performed well under the lead of National Refinery.
The activity in part was also affected as investors remained busy in squaring of positions on the future market as it was the last day of the rollover week. However, snap rallies here and there were not wanting.
The benchmark KSE 100-index posted a fresh modest rise of 27.40 points at 12,225.52 as compared to 12,198.12 a day earlier as some of the leading base shares in the oil sector maintained their upward drive on active follow-up support.
Floor brokers said speculation about the changes in the capital gains tax seemed to have lost its relevance at least for the near-term as its details are expected to be announced in the budget.
Leading gainers were led by Unilever Pakistan and National Refinery, up by Rs99.02 and Rs15.08, while top losers included Shell Pakistan and Nestle Pakistan, off by Rs4.31 and Rs4.26 respectively.
Traded volume fell further to 79.641m shares from the overnight’s 102m shares but gainers held a slight edge over the losers at 130 to 124, with 90 shares holding onto the last levels.
The active list was topped by Nishat Mills, up Rs1.50 at Rs61.56 on 7m shares followed by D.G. Khan Cement, firm by 26 paisa at Rs23.71 also on 7m shares, JS & Co, lower by 21 paisa at Rs7.94 on 6m shares, Azgard Nine, steady by 13 paisa at Rs6.71 on 5m shares, Byco Petroleum, firm by 11 paisa at Rs9.58 on 5m shares, Arif Habib Corpn, up 15 paisa at Rs23.53 on 4m shares and Bank of Punjab, easy by four paisa at Rs6.56 also on 4m shares.
Attock Refinery, higher by Rs1.97 at Rs133.77 on 4m shares, Fauji Fertiliser Bin Qasim, lower 59 paisa at Rs43.04 on 3m shares and Lotte Pakistan, easy by three paisa at Rs15.17 also on 3m shares.
FUTURE CONTRACTS: The active list was again led by both the settlements of D.G. Khan Cement, the May was quoted higher by 24 paisa at Rs23.71 the ruling June rose by 42 paisa at Rs23.62 on large volume of 3.113m and 1.455m shares respectively.
Nishat Mills rose by Rs1.42 at Rs61.97. Both the settlements of National Bank rose by six and 13 paisa at Rs53.99 and Rs54.57.
DEFAULTER COMPANIES: Mixed trend was witnessed on this counter amid alternate bouts of buying and selling. The active list was again led by Invest Bank, easy by three paisa at Rs0.32 on 66,459 shares followed by Japan Power, lower by the same amount at Rs1.22 on 29,204 shares.
Ravi Textiles was, however, an exception, which rose by three paisa at Re1 on 62,104 shares followed by Dadabhoy Cement, lower by six paisa at Rs1.99 on 27,396 shares.

Bullish trend on share market

Bullish trend was witnessed at Karachi share market during the week on May 28, 2011 on expectations of some tax incentives for capital market in the coming budget for 2011-12, to be announced on June 3, 2011. The market witnessed positive trend throughout the week and the KSE-100 index registered a gain of 252.14 points to close at 12,225.52 points.

Due to active participation of local retail investors, trading improved tremendously and the average daily volume at ready counter increased to 82.89 million shares, or 80.6 percent, as compared to previous week's 45.90 million shares.

Market capitalisation increased by Rs 67 billion to Rs 3.241 trillion. Foreign investors emerged net buyers as a fresh inflow of $1.67 million was recorded.

On Monday, the market opened on a positive note and the index surged by 57.26 points to close at 12,030.64 points with volume of 40.278 million shares.

On Tuesday, the index gained 99.94 points to close at 12,130.58 points with 70.111 million shares.

On Wednesday, the index registered an increase of 37.54 points and closed at 12,168.12 points with 122.922 million shares.

On Thursday, the index inched up by 30.00 points and closed at 12,198.12 points with 101.515 million shares.

On Friday, investors' interest continued and the index gained 27.40 points and closed at 12,225.52 points with 79.641 million shares.

"After posting a few range-bound sessions, the KSE-100 index breached the psychological level of 12,000 points once again during the week and closed significantly higher on the last trading day of the week", Yawar Uz Zaman, an analyst at Invest Capital and Securities said.

He said the foremost reason behind such escalating market gains with improved activity was the hope of "market/investor friendly" budget for FY12 that is expected to be announced on June 3, 2011, where the government is expected to provide tax incentives on new listings, room for small investors with few tax exemptions and/or replace capital gains tax with other more acceptable taxes on trading.

The euphoria in the market was injected following a series of meetings between market stakeholders and the President of the country alongside the Finance Minister, who were reported to have agreed to revisit the current market levies to promote small investors.

Rabia Tariq at JS Global Capital said that the market was engulfed in budget-related news during the week, with particular interest witnessed in the refinery sector. Rumours that the government might maintain the deemed duty at 7.5 percent on HSD, instead of a cut anticipated earlier, led to a rally in refinery stocks. Further, ADB pledged $200 million for budgetary support along with $4.5 billion for the construction of Diamer-Bhasha Dam strengthened investor interest. Overall, the market sentiment improved after a meeting between President Zardari and Pakistan Business Council (PBC) in which revival of withholding tax, instead of the current CGT, was recommended.

Stocks & Bonds

• Karachi Stock Exchange

Data Periods:

Daily Rates:  At a Glance KSE-100 Index Mkt Capitalisation Turnover Trading Value Trades Paid-up Capital 12,225.52 against 12,198.12 of previous Day 3,246,443,350,385 against 3,239,943,677,515 of previous Day 79,641,110 against 101,515,256 of previous Day -- against -- of previous Day -- against -- of previous Day 925,320,568,000 against 925,320,568,000 of previous Day Up:130   Down: 121   Traded: 341   Static: 91   Total: 664 Top Ten Top 10 Traded Companies Company Rate Turnover* Open Close Diff High Low Avg. Nishat Mills Ltd [3,515,998,000] 60.06 61.56 1.50 61.99 60.10 61.00 6,525,602 D.G. Khan Cement Co Ltd [3,650,992,000] 23.45 23.71 0.26 24.50 23.22 23.91 6,457,785 Jahangir Siddiqui & Co Ltd [7,632,853,000] 8.15 7.94 -0.21 8.25 7.80 8.01 6,314,141 Azgard Nine (Legler-Nafees Denim) [4,493,494,000] 6.58 6.71 0.13 6.80 6.41 6.65 4,918,533 BYCO Petroleum [3,921,044,000] 9.47 9.58 0.11 9.95 9.29 9.73 4,460,799 Arif Habib Corporation Ltd [3,750,000,000] 23.38 23.53 0.15 24.11 23.07 23.77 4,064,359 The Bank of Punjab Ltd [5,287,974,000] 6.60 6.56 -0.04 6.73 6.30 6.52 3,949,475 Attock Refinery Ltd [852,930,000] 131.80 133.77 1.97 138.38 131.80 135.15 3,862,663 Fauji Fertilizer Bin Qasim [9,341,100,000] 42.63 43.04 0.41 43.24 42.52 43.00 3,146,761 Lotte Pakistan PTA Ltd [15,142,072,000] 15.20 15.17 -0.03 15.42 15.15 15.27 2,890,533

Top 10 Gainers Company 

RateTurnover* Open CloseDiff High Low Avg.

 Unilever Pakistan Ltd [664,694,000] 5,100.985,200.0099.025,200.005,099.005,190.8090

National Refinery Ltd [799,666,000] 350.10365.1815.08367.60352.16360.421,148,221

 Fazal Textile Mills Ltd [61,875,000] 300.00314.0014.00314.00314.00300.001,000

 Exide Pakistan Ltd [56,499,000] 196.13202.796.66204.32198.10202.80329

Pakistan Int. Container [1,091,532,000] 78.1881.993.8182.0878.3081.20126,103

 National Foods Ltd [414,434,000] 67.0070.353.3570.3567.4469.6837,004

Shahtaj Sugar Mills Ltd [120,112,000] 68.1571.353.2071.5066.0068.898,300

Pakistan Tobacco Co Ltd [2,554,938,000] 98.70101.002.30103.6397.95102.9411,804

Grays of Cambridge (PAK) Ltd [73,493,000] 40.7242.752.0342.7542.7542.751,014

Attock Refinery Ltd [852,930,000] 131.80133.771.97138.38131.80135.153,862,663

Top 10 Losers Company RateTurnover*

Open CloseDiff High Low Avg.

 Shell Pakistan Ltd [684,879,000] 229.13224.82-4.31231.00224.10226.7617,674

Nestle Pakistan [453,496,000] 3,549.703,545.44-4.263,597.003,510.103,550.3521

 JDW Sugar Mills Ltd [538,878,000] 82.7578.90-3.8582.1078.6280.5411,900

Al-Ghazi Tractors Ltd [214,682,000] 237.97235.00-2.97238.00235.00237.121,670

Quetta Textile Mills Ltd [130,000,000] 54.2151.50-2.7151.5051.50----

Pakistan State Oil Co Ltd [1,715,190,000] 286.95285.27-1.68287.70285.00286.09301,511

 Packages Ltd [843,795,000] 112.40110.93-1.47118.00110.60111.673,780

Indus Motor Co Ltd [786,000,000] 223.31222.00-1.31223.00217.60221.135,615

Millat Tractors Ltd [366,054,000] 541.55540.43-1.12545.00539.17541.559,029

Ittehad Chemical Ltd [360,000,000] 31.0230.00-1.0232.5730.0030.52 2,505

	Index	Closing			Chg%
	DJIA	12,441.58			0.56
	Nasdaq	2,796.86			0.20
	S&P	1,331.10			0.16
	FTSE	5,938.87			0.16
	DAX	7,163.47			0.69
	CAC-40	3,950.98			0.86
	Nikkei	9,521.94			0.42
	H.Seng	23,118.07			0.95
	Sensex	18,213.14			0.93
Updated at 5:00 am Pst

Market at Close

	BRIndex-30	8,855.07
	KSE-30 Index	11,846.24
	KSE-100 Index	12,225.52
	LSE-25 Index	3,313.81
	ISE-10 Index	2,750.55
	Gold Per 10gm	42,428.00
	KCA Spot Rate	8,500.00
	Libor Rate	0.40263

Economic Indicators

	Annual	2009/10
	Foreign Debt	$53.01bn
	Per Cap Income	$1046
	GDP Growth	4.1%
	Average CPI	11.73%