DAILY KARACHI STOCK MARKET SUMMARY:
Stock
Karachi Stocks Down 29.93 Points:KARACHI, May 30: At close of trading, the KSE-100 index was at 12195.59, down 29.93 points. (Bureau Report) (Updated @ 15:30 PST)
May 30, 2011
| KSE 30 – Shares Index | Previous 11,846.24, Monday’s 11,798.36, minus 47.88 points |
| KSE 100 – Shares Index | Previous 12,225.52, Monday’s 12,195.59, minus 29.93 points |
| MARKET CAPITALIZATION | Previous Rs.3,241.433bn,Monday’s 3,236.134bn, minus 5.299bn |
| VOLUME LEADERS | Dewan Salman 27.850m, Dewan Cement 12.059m, Azgard Nine 7.484m,Summit Bank 5.568m, J.S.& Co 5.549m shares. |
| TOTAL VOLUME | 120.596m shares |
| TOTAL | TONE: mixed, total listed 638, actives 345, inactives 293, plus 135, minus 135, unchanged 75 |
 | |
| Siemens Pak | Rs 27.57 | Attock Petroleum | Rs (2.19) |
| PICT | Rs 5.46Rs 3.95 | UniLever Pak | Rs (25.58) |
| National Foods | Rs 3.95Rs 3.51 | National Refinery | Rs (7.15) |
| EFU Life Insurance | Rs 3.12 | Nestle Pakistan | Rs (6.67) |
| Mehran Sugar | Rs 3.10 | Attock Refinery | Rs (4.31) |
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.100KSE 100-share index loses 30 points
KARACHI, May 30: The share market on Monday gave a mixed performance as investors played on both sides of the fence apparently seeking safe havens in the low-priced sectors ahead of the budget, widely rumoured as bourse-friendly.
An idea of investor cautiousness may well be had from the fact that “low-priced shares, notably the Dewan Group, led the show as out of 10 volume leaders eight were below par stocks, which contributed 70 per cent of the session`s total volume,” said a leading analyst Hasnain Asghar Ali.But the blue chip sector witnessed fresh profit-selling at the available margins owing to various rumours about the fresh taxes and withdrawal of exemptions in the federal budget due this week, he said.
The weakness of the blue chip counter was well-reflected in the reaction of the benchmark, which after last week`s rise of about two per cent; fell by 29.93 points at 12,195.59 as compared to previous week`s 12,225.52, reflecting the weakness of some leading base shares.
“The pre-budget conflicting rumours, whether or not it could be equity friendly for the corporate sector, dominated the activity,” another leading stock analyst Ahsan Mehanti said, and added: “But investors shift from the high-profile shares to the low-priced ones appears to be a conscious effort to avert an undue financial risks.”The chief worry was caused by the rumours that subsidy on the oil sector, notably refineries, which is considered one of the leading market trend setters owing partly to strong foreign interest may be withdrawn in the budget, he added.
Analyst Samar Iqbal said the sharp increase in the traded volume reflects report of restructuring of the Dewan Group, notably Dewan Salman, Dewan Cement and Dewan Motors in part, was a major market mover. All the three companies of the group ended higher on a volume of about 42m shares, including 28m shares in the former.
Among the top gainers, Siemens Pakistan and Pakistan International Container Terminal (PICT) up by Rs27.57 and 3.95, while losers were led by Unilever Pakistan and National Refinery amid two-way fractional changes.
Traded volume rose to 120.596m shares from the weekend`s 80m shares but gainers and losers were evenly matched at 135, with 75 shares holding on to their previous levels.
The active list was topped by Dewan Salman, up one rupee at Rs3.38 on 28m shares followed by Dewan Cement, firm by 96 paisa at 2.58 on 12m shares, Azgard Nine, steady by nine paisa at Rs6.80 on 8m shares, Summit Bank, up 73 paisa at 3.73 on 6m shares, J.S. & Co, up 73 paisa at 7.67 also on 6m shares, TRG Pakistan, firm by 13 paisa at 2.94 on 5m shares, and PTCL, up 17 paisa at 17.61 on 4m shares.
Dewan Motors followed them, up one rupee at Rs2.62 on 3m shares, NIB bank, steady by two paisa at 1.74 also on 3m shares, and WorldCall Telecom, up 20 paisa at 2.38 on 3m shares.
FUTURE CONTRACTS: The activity on this counter was relatively slow as investors were not inclined to make bigger commitments ahead of the budget.
Stray changes were witnessed in D. G. Khan Cement, which came in for selling and was marked down by 44 paisa at Rs23.18 on 0.563m shares followed by Engro Corporation, lower by 68 paisa at Rs196.16 on 0.312m shares, and Nishat mills, off Rs1.16 at 60.81 on 0.294m shares.Attock Refinery and National Refinery fell by Rs4.11 and 7.15 on selling prompted by rumours of withdrawal of subsidy, followed by National Bank, easy by 64 paisa at Rs53.93 on 0.194m shares.
DEFAULTER COS:Active short-covering at the lower levels in the Dewan Group of Companies also featured the trading on this counter under the lead of Dewan Auto, which rose by 75 paisa at Rs1.90 on 1.168m shares, followed by Ravi Textiles, steady by four paisa at 1.04 on 387m shares, and Invest Bank, higher by 24 paisa at 0.56 on 0.918m shares.
KSE end lower, rupee weakens
KARACHI: Karachi Stock Exchnage (KSE) ended lower on Monday as investors booked profits at higher levels after the market gained two percent the previous week, dealers said.
Investors were also awaiting the fiscal year 2011/12 (July-June) budget announcement due on Friday. Dealers said investors are expecting the removal of a capital gains tax.
KSE benchmark 100-share index ended 0.24 percent, or 29.93 points, lower at 12,195.59 on turnover of 120.6 million shares.
"After a two percent rise last week, the KSE-100 index oscillated between 40 points and the focus remained on low capped stocks," said Samar Iqbal, a dealer at Topline Securities.
Dewan Salman, volume leader, ended 42.02 percent higher at 3.38 rupees, while Dewan Cement rose 59.88 percent to end at 2.59 rupees.
In the currency market, the rupee eased 85.80/85 to the dollar from 85.65/75 on Friday, amid slightly higher dollar demand from importers.
The rupee hit a record low of 86.50 last week and dealers said the local unit may face pressure amid increased demand for dollar for import payments and a bleak outlook.
There are also concerns about the growing tensions with the West, which could choke off much-needed foreign aid.
Concerns over a reduction in foreign aid have flared since US special forces found and killed bin Laden early this month in a house near Islamabad.
The rupee has lost more than 1.5 percent of its value since then, almost the same as its total loss of 1.53 percent in 2010.
The rupee's slump to a record low comes a little over a month after it rose to an 11-month high suggesting its outlook has weakened because of uncertainty following bin Laden's death.
In the money market, overnight rates ended between 13.50 percent and 13.75 percent, unchanged from Saturday's closed and dealers expect rates to be on the higher side amid tight liquidity in the interbank market.
KSE index sheds 29.93 points
The investors at share market on Monday opted cautious stance and preferred to book profits which forced the KSE-100 index to close in negative at 12,195.59 points, down 29.93 points. The market opened on a positive note and the index hit 12,268.59 points intra-day high level, up 43.07 points. However, the investors opted for profit taking that forced the index into negative zone at 12,180.28 points intra-day low.
Trading volume at ready counter increased to 120.596 million shares as compared to 79.641 million shares traded on last trading session. Market capitalisation declined by Rs 5 billion to Rs 3.236 trillion. Of 345 active scrips, 135 closed in positive and 135 in negative, while the values of 75 stocks remained unchanged.
Dewan Salman was the volume leader with 27.850 million shares and gained Re 1.00 to close at Rs 3.38. Dewan Cement increased by Re 0.97 to close at Rs 2.59 with 12.059 million shares. Azgard Nine inched up by Re 0.09 to close at Rs 6.80 with 7.484 million shares. Summit Bank and NIB Bank surged by Re 0.73 and Re 0.02 to close at Rs 3.73 and Rs 1.74 with 5.568 million shares and 2.590 million shares respectively.
Jahangir Siddiqui Co lost Re 0.27 to close at Rs 7.67 with 5.549 million shares. TRG Pakistan gained Re 0.13 to close at Rs 2.94 with 4.803 million shares. PTCL inched up by Re 0.07 to close at Rs 17.51 with 3.858 million shares. Dewan Motors increased by Re 1.00 to close at Rs 2.62 with 2.821 million shares. WorldCall Telecom gained Re 0.22 to close at Rs 2.38 with 2.575 million shares.
Siemens Pak and Pak Int Con were the highest gainers, increasing by Rs 27.57 and Rs 3.95 to close at Rs 1007.57 and Rs 85.94 respectively, while Unilever Pak and National Refinery were the worst losers declining by Rs 25.58 and Rs 7.15 to close at Rs 5174.42 and Rs 358.03 respectively.
Ahsan Mehanti at Arif Habib Investment said that mixed trend was witnessed at the local bourse on limited investors' interest ahead of federal budget announcements this week. He said that concerns for rising fiscal deficit, uncertainty over new tax measures for banking sector, oil refineries and government subsidies in Pakistan energy sector affected the sentiment despite recovery in global commodities.
Trading volume at ready counter increased to 120.596 million shares as compared to 79.641 million shares traded on last trading session. Market capitalisation declined by Rs 5 billion to Rs 3.236 trillion. Of 345 active scrips, 135 closed in positive and 135 in negative, while the values of 75 stocks remained unchanged.
Dewan Salman was the volume leader with 27.850 million shares and gained Re 1.00 to close at Rs 3.38. Dewan Cement increased by Re 0.97 to close at Rs 2.59 with 12.059 million shares. Azgard Nine inched up by Re 0.09 to close at Rs 6.80 with 7.484 million shares. Summit Bank and NIB Bank surged by Re 0.73 and Re 0.02 to close at Rs 3.73 and Rs 1.74 with 5.568 million shares and 2.590 million shares respectively.
Jahangir Siddiqui Co lost Re 0.27 to close at Rs 7.67 with 5.549 million shares. TRG Pakistan gained Re 0.13 to close at Rs 2.94 with 4.803 million shares. PTCL inched up by Re 0.07 to close at Rs 17.51 with 3.858 million shares. Dewan Motors increased by Re 1.00 to close at Rs 2.62 with 2.821 million shares. WorldCall Telecom gained Re 0.22 to close at Rs 2.38 with 2.575 million shares.
Siemens Pak and Pak Int Con were the highest gainers, increasing by Rs 27.57 and Rs 3.95 to close at Rs 1007.57 and Rs 85.94 respectively, while Unilever Pak and National Refinery were the worst losers declining by Rs 25.58 and Rs 7.15 to close at Rs 5174.42 and Rs 358.03 respectively.
Ahsan Mehanti at Arif Habib Investment said that mixed trend was witnessed at the local bourse on limited investors' interest ahead of federal budget announcements this week. He said that concerns for rising fiscal deficit, uncertainty over new tax measures for banking sector, oil refineries and government subsidies in Pakistan energy sector affected the sentiment despite recovery in global commodities.
MOHAMMED SALEEM MANSOORI
RAFI SECURITIES (PVT.)LTD.
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