Showing posts with label Karachi stock market. Show all posts
Showing posts with label Karachi stock market. Show all posts
national bank pakistan stock outlook 2012
Indonesia stock info- national bank pakistan stock outlook 2012 ; Since Q108, we have described numerically the banking business environment for each of the countries surveyed by BMI. We do this through our Commercial Banking Business Environment Rating (CBBER), a measure that ensures we capture the latest quantitative information available. It also ensures consistency across all countries and between the inputs to the CBBER and the Insurance Business Environment Rating, which is likewise now a feature of our insurance reports. Like the Business Environment Ratings calculated by BMI for all the other industries on which it reports, the CBBER takes into account the limits of potential returns and the risks to the realisation of those returns. It is weighted 70% to the former and 30% to the latter. Read More..
Karachi Stock Exchange (KSE) october 11 2011
Indonesia stock info - Karachi Stock Exchange (KSE) october 11 2011 ; The main benchmark at the Karachi Stock Exchange (KSE), the KSE-100 Index fell by 37.50 points, or 0.31 percent, to 12,054.82 points on Tuesday on profit-booking mainly in the banking and energy stocks, traders said.
Investors opted to book profits on available margins after foreigners appeared net sellers of the stocks worth over two million dollars on Monday.
“There was a fear in the market that foreigners might continue offloading holdings at the KSE,” said an analyst.
On the fundamental ground, offloading in the banking stocks was logical after a massive cut of 150 basis points in the discount rate by the State Bank of Pakistan last week.
“Decline in the discount rate would impact the rate of profits of listed banks. Accordingly, the prices of the banking stocks were needed to be adjusted at the local bourses.” The MCB Bank, the National Bank of Pakistan and the Habib Bank Limited were the three main banking stocks, which shed notable points on indices. Trade in these three stocks was, however, not of significant volumes.
Furthermore, the Oil and Gas Development Company Limited (OGDCL) alone slashed over 18 points in the 100 Index. The stock closed at Rs139.99 with a loss of Rs1.04 with meager 493,000 shares turnover. There was no fundamental change in OGDCL as such. The ongoing circular debt might have downplayed it, an analyst said.
Hub Power Company, which was the volume leader with exceptionally 22.46 million shares turnover, lost 90 paisas to Rs41.67. There was a rumour in the market that the company is considering an off-market deal at Rs40 per share, the analyst added.
The fertiliser stocks, however, extended the supporting hand to the indices and saved the 100 Index from falling below 12,000 points crucial level, the analyst said. Ahsan Mehanti, Director at Arif Habib Investments, said that it was institutional profit-booking that pushed the market down.
“Law and order situation in the city and concerns for rising trade deficit affected the sentiment despite strong recovery in the global stocks and commodities after France and Germany pledged to plan end to Eurozone debt crisis.”
The KSE-30 Index declined by 89.26 points, or 0.77 percent, to 11,545.08 points.
Turnover in the ready market remained significant at 141.70 million shares. The turnover in the futures market was recorded at 9.89 million shares against 9.505 million shares turnover.
Out of the total 378 companies’ stocks traded on the broader market, 104 advanced, 183 declined and 91 stocks remained unchanged.
Fatima Fertilizer Company was the second volume leader with 11.95 million shares turnover. The stock closed at Rs21.26 with a gain of 90 paisas; followed by Pakistan Telecommunication Company, which closed at Rs12.59 with a gain of 13 paisas on a turnover of 9.36 million shares
Investors opted to book profits on available margins after foreigners appeared net sellers of the stocks worth over two million dollars on Monday.
“There was a fear in the market that foreigners might continue offloading holdings at the KSE,” said an analyst.
On the fundamental ground, offloading in the banking stocks was logical after a massive cut of 150 basis points in the discount rate by the State Bank of Pakistan last week.
“Decline in the discount rate would impact the rate of profits of listed banks. Accordingly, the prices of the banking stocks were needed to be adjusted at the local bourses.” The MCB Bank, the National Bank of Pakistan and the Habib Bank Limited were the three main banking stocks, which shed notable points on indices. Trade in these three stocks was, however, not of significant volumes.
Furthermore, the Oil and Gas Development Company Limited (OGDCL) alone slashed over 18 points in the 100 Index. The stock closed at Rs139.99 with a loss of Rs1.04 with meager 493,000 shares turnover. There was no fundamental change in OGDCL as such. The ongoing circular debt might have downplayed it, an analyst said.
Hub Power Company, which was the volume leader with exceptionally 22.46 million shares turnover, lost 90 paisas to Rs41.67. There was a rumour in the market that the company is considering an off-market deal at Rs40 per share, the analyst added.
The fertiliser stocks, however, extended the supporting hand to the indices and saved the 100 Index from falling below 12,000 points crucial level, the analyst said. Ahsan Mehanti, Director at Arif Habib Investments, said that it was institutional profit-booking that pushed the market down.
“Law and order situation in the city and concerns for rising trade deficit affected the sentiment despite strong recovery in the global stocks and commodities after France and Germany pledged to plan end to Eurozone debt crisis.”
The KSE-30 Index declined by 89.26 points, or 0.77 percent, to 11,545.08 points.
Turnover in the ready market remained significant at 141.70 million shares. The turnover in the futures market was recorded at 9.89 million shares against 9.505 million shares turnover.
Out of the total 378 companies’ stocks traded on the broader market, 104 advanced, 183 declined and 91 stocks remained unchanged.
Fatima Fertilizer Company was the second volume leader with 11.95 million shares turnover. The stock closed at Rs21.26 with a gain of 90 paisas; followed by Pakistan Telecommunication Company, which closed at Rs12.59 with a gain of 13 paisas on a turnover of 9.36 million shares
Karachi Stock Exchange (KSE) outloook weekly october 10 2011
Indonesia stock info - Karachi Stock Exchange (KSE) outloook weekly october 10 2011 ;The main benchmark at the Karachi Stock Exchange (KSE), the KSE-100 Index, is all set to surpass and sustain the 12,000 points next week, as the outgoing week’s buying rally is strongly expected to continue after the central bank announces an above expectation cut of 150 basis points in the discount rate to 12 percent, traders said.
“The market is all set to cross 12,000 points on the back of unexpected cut of 150 basis points in the discount rate,” said Khurram Schehzad, Head of Research at InvestCap.
Earlier, market analysts were expecting a cut of 50-100 basis points.
At the end of the outgoing week on Friday, the KSE-100 Index closed at 11,853.84 points with an increase of 91.87 points, or 0.78 percent, on a weekly basis.
The KSE-30 Index surged by 126.14 points, or 1.12 percent, on week-on-week basis to 11,366.73 points.
Listed companies, which were built, extended and or operating on banks’ loan will fuel the rally.
So many companies in cement, fertiliser, textile and energy sectors are operating on bank’s financing. Engro Fertiliser and DG Khan Cement are two notable companies among those leveraged companies.
Schehzad said that the market might see some profit-booking, as well during the next week, but it is strongly believed that the KSE-100 Index would sustain the 12,000 points level and consolidate above this level if nothing big unexpected happen on the economic and political fronts.
“Today’s cut in the discount rate shows that the State Bank of Pakistan is willing to reduce the rate further, depending on other economic indicators. The reduction in the rate would convince banks to leverage credit to the private sector, which would help the companies listed at the KSE to perform better.”
A KASB Securities’ report said that apart from a significant decline in the discount rate, the recent increase in car prices by auto-makers (Indus Motor and Pakistan Suzuki), offers an accumulation opportunity for both the stocks.
“They have historically outperformed the broader market after price hikes.”
Other scrips, which warrant the brokerage house liking, include a mixture of growth and value plays, Pakistan Petroleum Limited, Arab Petroleum Limited, Pakistan State Oil, Oil and Gas Development Company, Pak Oilfields, Fauji Fertiliser Company, Kot Addu Power Company, Lucky Cement and Pakistan Telecommunication Company.
“These are the names with sound fundamentals and attractive stories.”
The average volumes of the outgoing week dipped by 9.3 percent to 75.5 million shares. On the contrary, the overall market capitalisation improved by Rs23 billion during the week to Rs3,126 billion.
The market started the week on a negative note, but later picked up steam with Tuesday being the highlight of the week, where the market jumped by 1.92 percent in a single session.
“The remainder of the week saw the market sputter amid profit-taking as domestic politics and global economic uncertainty overshadowed deescalating tensions between the United States and Pakistan; and expectations of discount rate cut in the monetary policy.”
Foreign investors, however, sold stocks worth $2.7 million this week against an outflow of $7.3 million last week.
Fertiliser stocks were the star performers with Fauji Fertiliser Company increased by 5.27 percent on weekly basis, Fauji Fertiliser Bin Qasim was up by 2.86 percent and Fatima Fertiliser rose by 4.14 percent on week-on-week basis following Engro’s decision to hike urea price.
Select cement such as DG Khan Cement rose by 9.8 percent on weekly basis and remained in the limelight due to excitement regarding the monetary policy and Bhasha Dam.
Local politics also grabbed attention mid-week as the PPP-MQM patch up was completed and the latter agreed to rejoin the coalition government
“The market is all set to cross 12,000 points on the back of unexpected cut of 150 basis points in the discount rate,” said Khurram Schehzad, Head of Research at InvestCap.
Earlier, market analysts were expecting a cut of 50-100 basis points.
At the end of the outgoing week on Friday, the KSE-100 Index closed at 11,853.84 points with an increase of 91.87 points, or 0.78 percent, on a weekly basis.
The KSE-30 Index surged by 126.14 points, or 1.12 percent, on week-on-week basis to 11,366.73 points.
Listed companies, which were built, extended and or operating on banks’ loan will fuel the rally.
So many companies in cement, fertiliser, textile and energy sectors are operating on bank’s financing. Engro Fertiliser and DG Khan Cement are two notable companies among those leveraged companies.
Schehzad said that the market might see some profit-booking, as well during the next week, but it is strongly believed that the KSE-100 Index would sustain the 12,000 points level and consolidate above this level if nothing big unexpected happen on the economic and political fronts.
“Today’s cut in the discount rate shows that the State Bank of Pakistan is willing to reduce the rate further, depending on other economic indicators. The reduction in the rate would convince banks to leverage credit to the private sector, which would help the companies listed at the KSE to perform better.”
A KASB Securities’ report said that apart from a significant decline in the discount rate, the recent increase in car prices by auto-makers (Indus Motor and Pakistan Suzuki), offers an accumulation opportunity for both the stocks.
“They have historically outperformed the broader market after price hikes.”
Other scrips, which warrant the brokerage house liking, include a mixture of growth and value plays, Pakistan Petroleum Limited, Arab Petroleum Limited, Pakistan State Oil, Oil and Gas Development Company, Pak Oilfields, Fauji Fertiliser Company, Kot Addu Power Company, Lucky Cement and Pakistan Telecommunication Company.
“These are the names with sound fundamentals and attractive stories.”
The average volumes of the outgoing week dipped by 9.3 percent to 75.5 million shares. On the contrary, the overall market capitalisation improved by Rs23 billion during the week to Rs3,126 billion.
The market started the week on a negative note, but later picked up steam with Tuesday being the highlight of the week, where the market jumped by 1.92 percent in a single session.
“The remainder of the week saw the market sputter amid profit-taking as domestic politics and global economic uncertainty overshadowed deescalating tensions between the United States and Pakistan; and expectations of discount rate cut in the monetary policy.”
Foreign investors, however, sold stocks worth $2.7 million this week against an outflow of $7.3 million last week.
Fertiliser stocks were the star performers with Fauji Fertiliser Company increased by 5.27 percent on weekly basis, Fauji Fertiliser Bin Qasim was up by 2.86 percent and Fatima Fertiliser rose by 4.14 percent on week-on-week basis following Engro’s decision to hike urea price.
Select cement such as DG Khan Cement rose by 9.8 percent on weekly basis and remained in the limelight due to excitement regarding the monetary policy and Bhasha Dam.
Local politics also grabbed attention mid-week as the PPP-MQM patch up was completed and the latter agreed to rejoin the coalition government
Pakistan stock market outlook week september 12 2011
Indonesia stock info - Pakistan stock market outlook week september 12 2011 ; Pakistani stocks will continue the upward momentum during the next week as some of the largest listed companies announce full-year financial results, traders said. A lot also depends on the security situation in Karachi, they added.
Attock Group of Companies, which includes heavyweights like Pakistan Oilfields Limited (POL), Attock Petroleum, Attock Refinery and National Refinery Limited (NRL), have been actively traded in the past week on speculation about their earnings and payouts, they said.
“There is uncertainty in the week ahead. The market should rise as investment appetite has increased, but the US economic growth fears, our own political wrangling and the fact that there are not many investors left, makes a prediction really difficult,” said a fund manager.
The benchmark Karachi Stock Exchange (KSE) 100-share index rose 215 points, or 1.95 percent, during the week to 11,286 over the previous week after shedding 9.2 percent in August in tandem with regional capital markets.
Invest Capital, a brokerage house, said that improvement in international markets will boost the morale of local investors who fear offshore funds might sell heavily. “But the market could take a correction once the results are through,” it said.
Average daily volume rose sharply by 83 percent to 82 million shares, luring at least some of the retail investors back to equity investments.
National Bank of Pakistan (NBP) hit the upper lock day after day, appreciating 20 percent overall. There seems to be no clear reason for so much interest, but analysts said some large institutions which had earlier sold the valuable share at high price were buying it back cheap.
Lotte Pakistan PTA has again become one of the most traded stocks. It surged eight percent during the week in consequence of the rise in price of cotton.
Director at Arif Habib Investments Ahsan Mehanti said that KSE has been mainly led by oil, fertiliser and banking stocks. “There was also renewed foreign interest after Nishat Group announced record earnings.”
However, Nishat Power was hammered as the power producer, struggling to get funds from the state-run buyers, did not announce dividend even after earning substantial profits. Pakistan Telecommunication Company Limited (PTCL) was also beaten down as its profits shrank and business outlook worsened.
Mehanti said that rise in global commodity prices also lifted some of the stocks in the local market. The efforts of the finance ministry to reduce the inter-corporate circular debt contributed to the buoyant mood, he added.
He said the optimism was increased by the government’s efforts to sort out the matters with Muttahida Qaumi Movement. Notwithstanding the valuation of the shares, which have become very attractive after sliding in past weeks, Pakistan’s economy could face a setback.
Slowly, the impact of heavy rains and floods in Sindh province is becoming visible. Analysts say that fiscal constraints of the government might again lead to humanitarian crisis that erupted last year, when hundreds of thousands were displaced and the situation was managed only with the help of foreign aid. Invest Capital said that 50 to 60 percent cotton crop in the rural parts of Sindh is feared to have been damaged by the floods, which would hit the economic growth prospects for this year. “The country is most likely to miss out on the cotton production target of 15 million bales in the current fiscal year as well.”
In the week, Pakistan and Iran moved to enhance economic coordination and signed four memorandums of understandings. Foreign exchange reserves were still high and portfolio investment increased, source http://www.thenews.com.pk
KSE stock mmarket forecast 12 september 2011, Karachi Stock Exchange outlook sept 12 2011, pakistan stock to watch september 12 2011, pakistan economic outlook 2011.
Attock Group of Companies, which includes heavyweights like Pakistan Oilfields Limited (POL), Attock Petroleum, Attock Refinery and National Refinery Limited (NRL), have been actively traded in the past week on speculation about their earnings and payouts, they said.
“There is uncertainty in the week ahead. The market should rise as investment appetite has increased, but the US economic growth fears, our own political wrangling and the fact that there are not many investors left, makes a prediction really difficult,” said a fund manager.
The benchmark Karachi Stock Exchange (KSE) 100-share index rose 215 points, or 1.95 percent, during the week to 11,286 over the previous week after shedding 9.2 percent in August in tandem with regional capital markets.
Invest Capital, a brokerage house, said that improvement in international markets will boost the morale of local investors who fear offshore funds might sell heavily. “But the market could take a correction once the results are through,” it said.
Average daily volume rose sharply by 83 percent to 82 million shares, luring at least some of the retail investors back to equity investments.
National Bank of Pakistan (NBP) hit the upper lock day after day, appreciating 20 percent overall. There seems to be no clear reason for so much interest, but analysts said some large institutions which had earlier sold the valuable share at high price were buying it back cheap.
Lotte Pakistan PTA has again become one of the most traded stocks. It surged eight percent during the week in consequence of the rise in price of cotton.
Director at Arif Habib Investments Ahsan Mehanti said that KSE has been mainly led by oil, fertiliser and banking stocks. “There was also renewed foreign interest after Nishat Group announced record earnings.”
However, Nishat Power was hammered as the power producer, struggling to get funds from the state-run buyers, did not announce dividend even after earning substantial profits. Pakistan Telecommunication Company Limited (PTCL) was also beaten down as its profits shrank and business outlook worsened.
Mehanti said that rise in global commodity prices also lifted some of the stocks in the local market. The efforts of the finance ministry to reduce the inter-corporate circular debt contributed to the buoyant mood, he added.
He said the optimism was increased by the government’s efforts to sort out the matters with Muttahida Qaumi Movement. Notwithstanding the valuation of the shares, which have become very attractive after sliding in past weeks, Pakistan’s economy could face a setback.
Slowly, the impact of heavy rains and floods in Sindh province is becoming visible. Analysts say that fiscal constraints of the government might again lead to humanitarian crisis that erupted last year, when hundreds of thousands were displaced and the situation was managed only with the help of foreign aid. Invest Capital said that 50 to 60 percent cotton crop in the rural parts of Sindh is feared to have been damaged by the floods, which would hit the economic growth prospects for this year. “The country is most likely to miss out on the cotton production target of 15 million bales in the current fiscal year as well.”
In the week, Pakistan and Iran moved to enhance economic coordination and signed four memorandums of understandings. Foreign exchange reserves were still high and portfolio investment increased, source http://www.thenews.com.pk
KSE stock mmarket forecast 12 september 2011, Karachi Stock Exchange outlook sept 12 2011, pakistan stock to watch september 12 2011, pakistan economic outlook 2011.
Karachi stock market august 15 2011
Indonesia stock info - Karachi stock market august 15 2011 ; The Karachi stock market continued to remain under the bearish spell on the first trading day of the week Monday as volatile global capital markets and commodity prices propelled investors to offload their holdings.
The Karachi Stock Exchange (KSE) 100-share index shed 95.94 points or 0.85 percent to close at 11,166.10 points as compared to 11,262.04 points of the previous session. The KSE 30-share index declined by 99.93 points to close at 10,668.67 points as compared with 10,768.60 points.
"Sentiment remained bearish at KSE with record low volumes in the earnings announcement session," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Investors remained concerned over volatile global capital and commodity prices after US economic slowdown and European debt crises." Concerns over release of next International Monetary Fund tranche for Pakistan's economic support and uncertain Pak-US relations after China's access to US copter played a catalyst role in the bearish sentiment, he added.
The market turnover went down by 51.91 percent to 25.90 million shares from its opening at 53.86 million shares. The overall market capitalisation fell 0.8 percent to Rs 2.976 trillion as against Rs 3 trillion. Losers outnumbered gainers 126 to 75, while 86 scrips were unchanged.
"Illiquid Nestle and Unilever negatively affected the 100-share index by contributing 52 points to the total loss of 96 points," said Topline Sec analyst Samar Iqbal. "Pak Gen remained in the limelight after announcing unexpectedly higher payout on Friday."
The KMI 30-share decreased 155.90 points to close at 19,920.67 points after opening at 20,076.57 points. The KSE all-share index closed with a loss of 62.33 points or 0.80 points to close at 7,765.95 points as against 7,828.28 points.
"The curtailed local strength that has certainly reduced the sustainable multiples, kept the high-priced stocks under pressure, wherein majority of the frontline stocks failed to meet the market expectations of payouts and earnings in the recently announced results," said Aziz Fida Husein and Co analyst Husenin Asghar Ali. "Cold ties with the US are likely to lead to tougher conditions linked to the release of committed fund from US and other loan extending international organisations."
Pak Gen Power Ltd was the volume leader with 7.07 million shares as it closed at Rs 20.39 after opening at Rs 19.77, gaining 62 paisas. Nishat Mills Ltd traded 1.21 million shares as it closed at Rs 42.64 from its opening at Rs 43.32, shedding 68 paisas. NBP traded 1.15 million shares as it closed at Rs 45.56 as compared to its opening at 46.03, losing 49 paisas. Lotte Pakistan PTA traded 1.02 million shares as it closed at Rs 10.68 as against its opening at Rs 10.79, declining 11 paisas. staff report
The Karachi Stock Exchange (KSE) 100-share index shed 95.94 points or 0.85 percent to close at 11,166.10 points as compared to 11,262.04 points of the previous session. The KSE 30-share index declined by 99.93 points to close at 10,668.67 points as compared with 10,768.60 points.
"Sentiment remained bearish at KSE with record low volumes in the earnings announcement session," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Investors remained concerned over volatile global capital and commodity prices after US economic slowdown and European debt crises." Concerns over release of next International Monetary Fund tranche for Pakistan's economic support and uncertain Pak-US relations after China's access to US copter played a catalyst role in the bearish sentiment, he added.
The market turnover went down by 51.91 percent to 25.90 million shares from its opening at 53.86 million shares. The overall market capitalisation fell 0.8 percent to Rs 2.976 trillion as against Rs 3 trillion. Losers outnumbered gainers 126 to 75, while 86 scrips were unchanged.
"Illiquid Nestle and Unilever negatively affected the 100-share index by contributing 52 points to the total loss of 96 points," said Topline Sec analyst Samar Iqbal. "Pak Gen remained in the limelight after announcing unexpectedly higher payout on Friday."
The KMI 30-share decreased 155.90 points to close at 19,920.67 points after opening at 20,076.57 points. The KSE all-share index closed with a loss of 62.33 points or 0.80 points to close at 7,765.95 points as against 7,828.28 points.
"The curtailed local strength that has certainly reduced the sustainable multiples, kept the high-priced stocks under pressure, wherein majority of the frontline stocks failed to meet the market expectations of payouts and earnings in the recently announced results," said Aziz Fida Husein and Co analyst Husenin Asghar Ali. "Cold ties with the US are likely to lead to tougher conditions linked to the release of committed fund from US and other loan extending international organisations."
Pak Gen Power Ltd was the volume leader with 7.07 million shares as it closed at Rs 20.39 after opening at Rs 19.77, gaining 62 paisas. Nishat Mills Ltd traded 1.21 million shares as it closed at Rs 42.64 from its opening at Rs 43.32, shedding 68 paisas. NBP traded 1.15 million shares as it closed at Rs 45.56 as compared to its opening at 46.03, losing 49 paisas. Lotte Pakistan PTA traded 1.02 million shares as it closed at Rs 10.68 as against its opening at Rs 10.79, declining 11 paisas. staff report
Karachi stock market closed down on August 11 2011
Indonesia stock info - Karachi stock market closed down on August 11 2011 ; The Karachi stock market closed down on Thursday following a fall in world stocks, but rebounded from early losses as bargain hunters accumulated fertiliser shares amid hopes of healthy corporate profits, dealers said.
The Karachi Stock Exchange’s benchmark 100-share index closed 0.41 percent or 46.34 points lower at 11,264.95 points on turnover of 58.45 million shares. The KSE-index made an intra-day low of 11,107.27 points. “Renewed investor interest was seen in stocks with attractive valuations and on hopes of healthy earnings like Engro,” said Sajid Bhanji, director at Arif Habib Ltd. Engro Corp, due to announce results on Friday, ended 4.97 percent higher at 136.01 rupees.
In the currency market, the rupee ended slightly firmer at 86.30/36 to the dollar, compared with Wednesday’s close of 86.32/37, because of higher remittances from overseas Pakistanis. According to official data, remittances rose 38.57 percent to $1.1 billion in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year.
APP adds from Islamabad: Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Thursday, as the index closed at 2419.88 after losing 40.42 points. Manager of First National Equity Pvt Ltd, M.M. Hassan told APP that foreign institutions remained net buyers but panic selling by local institutions caused the decline in local stock markets.
He said that with Qadirpur gas suspension for 2-3 weeks for routine maintenance would likely to exert pressure in fertilizer stocks during coming days. Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that scrips of oil and fertilizer sectors remained favourites for investors because of the positive earning of these counters.
“According to National Clearing Company of Pakistan’s data, foreign investors took positions in blue chips companies worth US $ 0.934 millions on Thursday”, he added. He said that buying of foreign investors showed the positive sentiments in the stock markets in future. Total shares traded on Thursday were 38,600, which were down by 3200 as compared to a day earlier.
Out of 93 companies, the price of 53 was increased while the price of 40 decreased. The price of top gainer Millat Tractors was increased by Rs. 27.20 while the price of the top loser Unilever Pakistan decreased by Rs. 119.44.
Lotte Pakistan PTA, Bank of Punjab and D.G Khan Cement remained volume leaders here on thursday, with volume of 10,000, 15,000 and 10,000 shares respectively.
The Karachi Stock Exchange’s benchmark 100-share index closed 0.41 percent or 46.34 points lower at 11,264.95 points on turnover of 58.45 million shares. The KSE-index made an intra-day low of 11,107.27 points. “Renewed investor interest was seen in stocks with attractive valuations and on hopes of healthy earnings like Engro,” said Sajid Bhanji, director at Arif Habib Ltd. Engro Corp, due to announce results on Friday, ended 4.97 percent higher at 136.01 rupees.
In the currency market, the rupee ended slightly firmer at 86.30/36 to the dollar, compared with Wednesday’s close of 86.32/37, because of higher remittances from overseas Pakistanis. According to official data, remittances rose 38.57 percent to $1.1 billion in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year.
APP adds from Islamabad: Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Thursday, as the index closed at 2419.88 after losing 40.42 points. Manager of First National Equity Pvt Ltd, M.M. Hassan told APP that foreign institutions remained net buyers but panic selling by local institutions caused the decline in local stock markets.
He said that with Qadirpur gas suspension for 2-3 weeks for routine maintenance would likely to exert pressure in fertilizer stocks during coming days. Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that scrips of oil and fertilizer sectors remained favourites for investors because of the positive earning of these counters.
“According to National Clearing Company of Pakistan’s data, foreign investors took positions in blue chips companies worth US $ 0.934 millions on Thursday”, he added. He said that buying of foreign investors showed the positive sentiments in the stock markets in future. Total shares traded on Thursday were 38,600, which were down by 3200 as compared to a day earlier.
Out of 93 companies, the price of 53 was increased while the price of 40 decreased. The price of top gainer Millat Tractors was increased by Rs. 27.20 while the price of the top loser Unilever Pakistan decreased by Rs. 119.44.
Lotte Pakistan PTA, Bank of Punjab and D.G Khan Cement remained volume leaders here on thursday, with volume of 10,000, 15,000 and 10,000 shares respectively.
Karachi stock market Summary august 10 2011
Indonesia stock infoKarachi stock market Summary august 10 2011 ; The Karachi stock market regained strength on Wednesday as recovery in global commodities and strong valuations at the local market propelled investors to take positions.
The Karachi Stock Exchange (KSE) 100-share index gained 276.37 points or 2.50 percent to close at 11,311.29 points as compared to 11,034.92 points of the previous session. The KSE 30-share index also increased 297.02 points to close at 10,704.27 points as compared with 11,407.25 points.
Analyst said renewed retail and institutional interest also played a catalyst role in the prevalence of bullish activity at KSE.
The market turnover declined 2.15 percent to 67.65 million shares from its opening at 69.14 million shares. The overall market capitalisation gained 3.08 percent to Rs 3.012 trillion as against Rs 2.922 trillion. Gainers outnumbered losers 200 to 50, while 85 scrips were unchanged.
"Bullish activity was witnessed in scrips across-the-board after strong recovery in global markets on US Federal Reserve statement that it will keep interest rates low until 2013," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Strong recovery in global commodities, strong valuations at KSE, and renewed retail and institutional interest played a catalyst role in the bullish trend at KSE."
The KMI 30-share gained 469.40 points to close at 19,965.89 points after opening at 19,496.49 points. The KSE all-share index closed with a rise of 186.43 points to 7,854.23 points as against 7,667.80 points.
"Following strong recovery in the regional markets, the local bourse also posted a handsome recovery of 2.6 percent," said Topline Sec analyst Samar Iqbal. "PSO, which announced better-than-expected result yesterday, closed on the upper limit. Similarly Engro Corporation in anticipation of better 6 months result to be announced next week closed on upper limit also."
Soneri Bank Ltd was the volume leader in the share market with 6.35 million shares as it closed at Rs 4 after opening at Rs 4.08, shedding 08 paisas. Azgard Nine traded 5.09 million shares as it closed at Rs 4.90 from its opening at Rs 4.38, gaining 52 paisas. NBP traded 4.37 million shares as it closed at Rs 45.53 as against its opening at Rs 44, rising Rs 1.53. Lotte Pakistan PTA traded 3.97 million shares as it closed at Rs 10.73 as compared to its opening at Rs 10.01, increasing 72 paisas.
The Karachi Stock Exchange (KSE) 100-share index gained 276.37 points or 2.50 percent to close at 11,311.29 points as compared to 11,034.92 points of the previous session. The KSE 30-share index also increased 297.02 points to close at 10,704.27 points as compared with 11,407.25 points.
Analyst said renewed retail and institutional interest also played a catalyst role in the prevalence of bullish activity at KSE.
The market turnover declined 2.15 percent to 67.65 million shares from its opening at 69.14 million shares. The overall market capitalisation gained 3.08 percent to Rs 3.012 trillion as against Rs 2.922 trillion. Gainers outnumbered losers 200 to 50, while 85 scrips were unchanged.
"Bullish activity was witnessed in scrips across-the-board after strong recovery in global markets on US Federal Reserve statement that it will keep interest rates low until 2013," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Strong recovery in global commodities, strong valuations at KSE, and renewed retail and institutional interest played a catalyst role in the bullish trend at KSE."
The KMI 30-share gained 469.40 points to close at 19,965.89 points after opening at 19,496.49 points. The KSE all-share index closed with a rise of 186.43 points to 7,854.23 points as against 7,667.80 points.
"Following strong recovery in the regional markets, the local bourse also posted a handsome recovery of 2.6 percent," said Topline Sec analyst Samar Iqbal. "PSO, which announced better-than-expected result yesterday, closed on the upper limit. Similarly Engro Corporation in anticipation of better 6 months result to be announced next week closed on upper limit also."
Soneri Bank Ltd was the volume leader in the share market with 6.35 million shares as it closed at Rs 4 after opening at Rs 4.08, shedding 08 paisas. Azgard Nine traded 5.09 million shares as it closed at Rs 4.90 from its opening at Rs 4.38, gaining 52 paisas. NBP traded 4.37 million shares as it closed at Rs 45.53 as against its opening at Rs 44, rising Rs 1.53. Lotte Pakistan PTA traded 3.97 million shares as it closed at Rs 10.73 as compared to its opening at Rs 10.01, increasing 72 paisas.
Karachi Stock Exchange (KSE) august 8 2011, finished higher
Indonesia stock info Karachi Stock Exchange (KSE) august 8 2011, finished higher ; The Karachi stock market finished higher on the first trading day of the week Monday, after taking heavy battering last week, on institutional support in oil and fertilizer sectors.
Analysts said concerns over US rating downgrade and fears of global economic recession failed to cast a negative impact on the market.
The Karachi Stock Exchange (KSE) 100-share index gained 29.08 points or 0.26 percent to close at 11,404.17 points as compared to 11,375.09 points of the previous session. The KSE 30-share index also gained 45.82 points to close at 10,815.22 points as compared with 11,769.40 points.
"A positive close was witnessed in a volatile session at KSE ahead of major earnings announcements this week," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Fall in global stocks affected investor sentiment during wee hours of trade."
Strong institutional support in blue chips - oil and fertilizer sectors - played a catalyst role in the positive close at KSE despite concerns about US rating downgrade and fears of global economic recession. Concerns over law and order situation in the city and uncertainty over International Monetary Fund's disbursement of the next tranche for economic support affected the sentiments, he added.
The market turnover went down by 5.68 percent to 106.74 million shares after opening at 113.17 million shares. The overall market capitalisation rose 0.26 percent to Rs 3.015 trillion as against Rs 3.007 trillion. Gainers outnumbered losers 133 to 128, while 63 scrips were unchanged.
"In spite of sell-off in Asian markets, across-the-board buying spree at cheap prices helped the local bourse recover early loss of 300 points," said Topline Sec analyst Samar Iqbal. "Institutional buying was seen especially in fertlizer and bank stocks. Moreover, Attock group also remained in the limelight amid expectations of hefty payouts." The KMI 30-share gained 187.12 points to close at 2,0151.89 points from its opening at 19,964.77 points. The KSE all-share index closed with a gain of 21.11 points to 7,912.63 points as against 7,891.52 points.
"Massive selling on opening forced the benchmark into deep red, but short covering that came in as a follow-up allowed the benchmark to undergo technical recovery," said Aziz Fida Husein and Co analyst Husnein Asghar Ali. "Since the internal economic and financial matters continue to stay unresolved the technical recovery is unlikely to find sustainability."
He predicted that strength in the stocks trading at high multiples based on curtailed local strength can be looked for offloading by the corporate participants, while punters may even opt for short selling to stay hedged against long positions in some.
PTCL was the volume leader with 7.30 million shares with no change in its share value of Rs 10.57. Lotte Pakistan PTA traded 7.14 million shares as it closed at Rs 10.73 from its opening at Rs 10.69, gaining four paisas. NBP traded 7.14 million shares as it closed at Rs 46.31 as compared to its opening at Rs 46.76, shedding 45 paisas. Azgard Nine traded 6.31 million shares with no change in its share value of Rs 4.58. staff report
Analysts said concerns over US rating downgrade and fears of global economic recession failed to cast a negative impact on the market.
The Karachi Stock Exchange (KSE) 100-share index gained 29.08 points or 0.26 percent to close at 11,404.17 points as compared to 11,375.09 points of the previous session. The KSE 30-share index also gained 45.82 points to close at 10,815.22 points as compared with 11,769.40 points.
"A positive close was witnessed in a volatile session at KSE ahead of major earnings announcements this week," said Arif Habib Investments Ltd Director Ahsan Mehanti. "Fall in global stocks affected investor sentiment during wee hours of trade."
Strong institutional support in blue chips - oil and fertilizer sectors - played a catalyst role in the positive close at KSE despite concerns about US rating downgrade and fears of global economic recession. Concerns over law and order situation in the city and uncertainty over International Monetary Fund's disbursement of the next tranche for economic support affected the sentiments, he added.
The market turnover went down by 5.68 percent to 106.74 million shares after opening at 113.17 million shares. The overall market capitalisation rose 0.26 percent to Rs 3.015 trillion as against Rs 3.007 trillion. Gainers outnumbered losers 133 to 128, while 63 scrips were unchanged.
"In spite of sell-off in Asian markets, across-the-board buying spree at cheap prices helped the local bourse recover early loss of 300 points," said Topline Sec analyst Samar Iqbal. "Institutional buying was seen especially in fertlizer and bank stocks. Moreover, Attock group also remained in the limelight amid expectations of hefty payouts." The KMI 30-share gained 187.12 points to close at 2,0151.89 points from its opening at 19,964.77 points. The KSE all-share index closed with a gain of 21.11 points to 7,912.63 points as against 7,891.52 points.
"Massive selling on opening forced the benchmark into deep red, but short covering that came in as a follow-up allowed the benchmark to undergo technical recovery," said Aziz Fida Husein and Co analyst Husnein Asghar Ali. "Since the internal economic and financial matters continue to stay unresolved the technical recovery is unlikely to find sustainability."
He predicted that strength in the stocks trading at high multiples based on curtailed local strength can be looked for offloading by the corporate participants, while punters may even opt for short selling to stay hedged against long positions in some.
PTCL was the volume leader with 7.30 million shares with no change in its share value of Rs 10.57. Lotte Pakistan PTA traded 7.14 million shares as it closed at Rs 10.73 from its opening at Rs 10.69, gaining four paisas. NBP traded 7.14 million shares as it closed at Rs 46.31 as compared to its opening at Rs 46.76, shedding 45 paisas. Azgard Nine traded 6.31 million shares with no change in its share value of Rs 4.58. staff report
Karachi Stock Exchange (KSE) summary week 7 August 2011
Indonesia stock info - Karachi Stock Exchange (KSE) summary week 7 August 2011 ; The Karachi stock market remained under the bearish spell during the week as record fall in global stocks and commodities over fears of growing eurozone sovereign debt crises and US economic recovery propelled investors to square their positions.
Analysts said other factors that affected market sentiment negatively included foreign outflow from the market despite record earnings announcements, strong valuations and record foreign exchange reserves of $18.31 billion.
The Karachi Stock Exchange (KSE) 100-share index lost a massive 815.37 points or 6.68 percent to close at 11, 375.09 points as compared to 12,190.37 points at the close of previous week.
“In spite of State Bank of Pakistan unexpectedly announcing a 50 basis points cut in the policy rate over the weekend, the market witnessed broad-based selling pressure,” said JS Sec analyst Sana Hanif. “Investor interest was clouded by precarious debt situation of the US and threatening law and order situation in the city.”
In the final session of the week, the market lost 4.0 percent - highest single day drop since Oct 19, 2009 - following sharp declines in the regional markets.
In a surprising move last weekend, the SBP reduced the policy rate to 13.50 percent from 14 percent previously. The central bank cited comfort on the external account front, retirement of government borrowings at the end of the third and fourth quarters of FY11, and expectations of inflation for FY12 to remain at the target level, as key reasons behind the cut.
The 100-share index opened on a positive note on this news flow, however, the market failed to sustain the positive mood and underwent massive selling, mainly led by local banks which were net sellers of $11.6 million; whereas, foreigners were net buyers of $4.6 million. Key results released during the week were Lucky Cement and ABL. Lucky posted earnings of Rs 3.9 billion [earning per share (EPS) of Rs 12.28] in FY11, up 27 percent on yearly basis and announced a final cash dividend of Rs 4 per share.
ABL registered profit of Rs 5.0 billion (EPS Rs 5.85) in 1HFY11, up 39 percent and declared an interim cash dividend of Rs 2.5 per share. Both the results were in line with expectations. However, owing to the prevailing uncertainty in the global markets, the stocks of these companies failed to maintain their pre-result levels. ABL ended the week with a 4.9 percent decline, and Lucky plunged by 2.8 percent.
The daily average volumes went up by 145.16 percent to close at 113.17 million shares as compared with 46.16 million shares of the previous week.
Arif Habib Investment Ltd Director Ahsan Mehanti said the market plunged this week after global stocks and commodities showed a record fall as fears grew over eurozone sovereign debt crises and US economic recovery.
The KSE saw record fall in scrips across-the-board this week, he said and added that investors feared foreign outflow from Pakistan bourse despite record earnings announcements, strong valuations, record foreign exchange reserves of $18.31 billion and investor support after SBP unexpectedly announced 50 bps cut in policy rate over the weekend.
Investor concerns over violence in Karachi, US-Pak confrontation on production of nuclear arms and uncertainty over the next tranche of the International Monetary Fund for economic support affected investor sentiment ahead of major corporate earnings announcements next week. staff report
Analysts said other factors that affected market sentiment negatively included foreign outflow from the market despite record earnings announcements, strong valuations and record foreign exchange reserves of $18.31 billion.
The Karachi Stock Exchange (KSE) 100-share index lost a massive 815.37 points or 6.68 percent to close at 11, 375.09 points as compared to 12,190.37 points at the close of previous week.
“In spite of State Bank of Pakistan unexpectedly announcing a 50 basis points cut in the policy rate over the weekend, the market witnessed broad-based selling pressure,” said JS Sec analyst Sana Hanif. “Investor interest was clouded by precarious debt situation of the US and threatening law and order situation in the city.”
In the final session of the week, the market lost 4.0 percent - highest single day drop since Oct 19, 2009 - following sharp declines in the regional markets.
In a surprising move last weekend, the SBP reduced the policy rate to 13.50 percent from 14 percent previously. The central bank cited comfort on the external account front, retirement of government borrowings at the end of the third and fourth quarters of FY11, and expectations of inflation for FY12 to remain at the target level, as key reasons behind the cut.
The 100-share index opened on a positive note on this news flow, however, the market failed to sustain the positive mood and underwent massive selling, mainly led by local banks which were net sellers of $11.6 million; whereas, foreigners were net buyers of $4.6 million. Key results released during the week were Lucky Cement and ABL. Lucky posted earnings of Rs 3.9 billion [earning per share (EPS) of Rs 12.28] in FY11, up 27 percent on yearly basis and announced a final cash dividend of Rs 4 per share.
ABL registered profit of Rs 5.0 billion (EPS Rs 5.85) in 1HFY11, up 39 percent and declared an interim cash dividend of Rs 2.5 per share. Both the results were in line with expectations. However, owing to the prevailing uncertainty in the global markets, the stocks of these companies failed to maintain their pre-result levels. ABL ended the week with a 4.9 percent decline, and Lucky plunged by 2.8 percent.
The daily average volumes went up by 145.16 percent to close at 113.17 million shares as compared with 46.16 million shares of the previous week.
Arif Habib Investment Ltd Director Ahsan Mehanti said the market plunged this week after global stocks and commodities showed a record fall as fears grew over eurozone sovereign debt crises and US economic recovery.
The KSE saw record fall in scrips across-the-board this week, he said and added that investors feared foreign outflow from Pakistan bourse despite record earnings announcements, strong valuations, record foreign exchange reserves of $18.31 billion and investor support after SBP unexpectedly announced 50 bps cut in policy rate over the weekend.
Investor concerns over violence in Karachi, US-Pak confrontation on production of nuclear arms and uncertainty over the next tranche of the International Monetary Fund for economic support affected investor sentiment ahead of major corporate earnings announcements next week. staff report
Rafhan Maize Products Company (RMPC) Net Profit period ended June 30, 2011
Indonesia stock info Rafhan Maize Products Company (RMPC) Net Profit period ended June 30, 2011 ; The profit after tax of Rafhan Maize Products Company (RMPC) increased to Rs.983.980 million in the six month period ended June 30, 2011, as compared with Rs.952.553 million earned in the corresponding period in 2010. The company’s earnings per share increased to Rs.106.53 in the period under review as against Rs.103.13 in the same period last year.
The board of directors of the company in its meeting held on Wednesday at London recommended an interim cash dividend for the half year and quarter ended June 30, 2011, at Rs.25 per share, i.e., 250 percent. This dividend is in addition to the first dividend already paid at Rs.35 per share, i.e., 350 percent.
According to the financial results sent to Karachi Stock Exchange (KSE), the company’s net sales increased to Rs.9.529 billion in the half year period this year as against Rs.6.604 billion in the same period last year. The cost of sales increased to Rs.7.699 billion against Rs.4.872 billion.
The company’s profit before taxation increased to Rs.1.543 billion in this period as against Rs.1.491 billion in the same period last year. On quarterly basis, the company’s profit after tax reduced to Rs.461.711 million translating into earning per share of Rs.49.99 in the quarter ended June 30, 2011, as compared after tax profit of Rs.555.493 million with per share earnings of Rs.60.14 posted in the corresponding quarter in 2010.
The board of directors of the company in its meeting held on Wednesday at London recommended an interim cash dividend for the half year and quarter ended June 30, 2011, at Rs.25 per share, i.e., 250 percent. This dividend is in addition to the first dividend already paid at Rs.35 per share, i.e., 350 percent.
According to the financial results sent to Karachi Stock Exchange (KSE), the company’s net sales increased to Rs.9.529 billion in the half year period this year as against Rs.6.604 billion in the same period last year. The cost of sales increased to Rs.7.699 billion against Rs.4.872 billion.
The company’s profit before taxation increased to Rs.1.543 billion in this period as against Rs.1.491 billion in the same period last year. On quarterly basis, the company’s profit after tax reduced to Rs.461.711 million translating into earning per share of Rs.49.99 in the quarter ended June 30, 2011, as compared after tax profit of Rs.555.493 million with per share earnings of Rs.60.14 posted in the corresponding quarter in 2010.
Karachi Stock Exchange (KSE) fell on Tuesday August 2 2011
Indonesia stock info - Karachi Stock Exchange (KSE) fell on Tuesday August 3 2011 ; Karachi Stock Exchange (KSE) fell on Tuesday, with volume striking a 13-month low, as investors stayed on the sidelines amid concerns over security in the metropolis.
Shortened trading hours during the holy month of Ramadan also contributed to the drop in trade.
"Volumes at Karachi Stock Exchange touched a 13-month low as investors remained out of market with the inception of Ramadan," said Samar Iqbal, a dealer at Topline Securities.
The KSE benchmark 100-share index ended 0.22 percent, or 27.06 points, lower at 12,226.33 on turnover of 14.94 million shares.
Dealers said investors were also cautious following the killing of another 26 people over the past 24 hours in the southern port city.
The Karachi Stock Exchange (KSE) will open at 9:15 a.m. and close at 2:00 p.m. from Monday to Thursday, and at 1:00 p.m. on Fridays, throughout Ramadan.
Shortened trading hours during the holy month of Ramadan also contributed to the drop in trade.
"Volumes at Karachi Stock Exchange touched a 13-month low as investors remained out of market with the inception of Ramadan," said Samar Iqbal, a dealer at Topline Securities.
The KSE benchmark 100-share index ended 0.22 percent, or 27.06 points, lower at 12,226.33 on turnover of 14.94 million shares.
Dealers said investors were also cautious following the killing of another 26 people over the past 24 hours in the southern port city.
The Karachi Stock Exchange (KSE) will open at 9:15 a.m. and close at 2:00 p.m. from Monday to Thursday, and at 1:00 p.m. on Fridays, throughout Ramadan.
Karachi Stock Exchange (KSE) plunged July 28 2011
Indonesia stock info - Karachi Stock Exchange (KSE) plunged July 28 2011 ; The Karachi Stock Exchange (KSE) plunged 167.48 points, or 1.37 percent, to 12,098.05 on Thursday as panic gripped the market following erosion of foreign portfolio investment, traders said.
Investors dumped shares across the board as markets around the world slipped in response to growing unease over US debt crisis, they said.
“Some very big funds liquidated their holdings at KSE,” said Qasim Ali Shah, head of equities at Global Securities. “Around $15.3 million have been taken out by a Luxemburg-based fund and another $13.3 million by a US fund.”
Foreign investors made net sales of $4.4 million, taking the outflow to $33.7 million in the last few sessions in response to delays in US debt deal, which is needed before August 2 to raise Washington’s ability to take more loans for making payments.
Stock markets in many other developing countries have come under pressure as foreign funds shift their investments to safer assets like gold.
The KSE-30 Index of blue chip firms fell 185.32 points to 11,502.53 with investors ignoring the strength of dividend-yielding stocks amidst the panic, traders said.
Shares of 377 companies were traded, out of which only 64 gained, 190 ended lower, while 123 remained unchanged.
Overall volume rose slightly to 64 million shares.
Shah said that KSE-100 Index remains fragile with investors nervous about the 12,000-point psychological barrier.
“If the index goes below that then we might just see depression taking hold.”
Domestic political situation with souring relations between the government and the judiciary has contributed to the jitteriness of the market, analysts say.
Oil and Gas Development Company Limited (OGDCL), MCB Bank and Fauji Fertilizer dragged down the market.
Support did come from Lucky Cement, Byco Petroleum and National Refinery, but selling pressure remained throughout the day.
The pressure has built up at a time when listed firms are announcing the April-June quarter result, causing an expected decline in many big shares, analysts said.
“Shares of the blue chip companies have come down to attractive levels,” said Hasnain Asghar Ali, an analyst at Aziz Fidahusein. “But investors must take a calculative bet. There are too many problems right now.”
Hub Power was the most actively traded shares with volume of 6.8 million. It slid 1.24 percent to Rs39. Jahangir Siddiqui Company followed with trade in 4.3 million shares.
The scrip closed flat at Rs6.92. Fauji Fertilizer Company was down 2.47 percent to Rs157.22 on trade in 3.5 million shares.
Investors dumped shares across the board as markets around the world slipped in response to growing unease over US debt crisis, they said.
“Some very big funds liquidated their holdings at KSE,” said Qasim Ali Shah, head of equities at Global Securities. “Around $15.3 million have been taken out by a Luxemburg-based fund and another $13.3 million by a US fund.”
Foreign investors made net sales of $4.4 million, taking the outflow to $33.7 million in the last few sessions in response to delays in US debt deal, which is needed before August 2 to raise Washington’s ability to take more loans for making payments.
Stock markets in many other developing countries have come under pressure as foreign funds shift their investments to safer assets like gold.
The KSE-30 Index of blue chip firms fell 185.32 points to 11,502.53 with investors ignoring the strength of dividend-yielding stocks amidst the panic, traders said.
Shares of 377 companies were traded, out of which only 64 gained, 190 ended lower, while 123 remained unchanged.
Overall volume rose slightly to 64 million shares.
Shah said that KSE-100 Index remains fragile with investors nervous about the 12,000-point psychological barrier.
“If the index goes below that then we might just see depression taking hold.”
Domestic political situation with souring relations between the government and the judiciary has contributed to the jitteriness of the market, analysts say.
Oil and Gas Development Company Limited (OGDCL), MCB Bank and Fauji Fertilizer dragged down the market.
Support did come from Lucky Cement, Byco Petroleum and National Refinery, but selling pressure remained throughout the day.
The pressure has built up at a time when listed firms are announcing the April-June quarter result, causing an expected decline in many big shares, analysts said.
“Shares of the blue chip companies have come down to attractive levels,” said Hasnain Asghar Ali, an analyst at Aziz Fidahusein. “But investors must take a calculative bet. There are too many problems right now.”
Hub Power was the most actively traded shares with volume of 6.8 million. It slid 1.24 percent to Rs39. Jahangir Siddiqui Company followed with trade in 4.3 million shares.
The scrip closed flat at Rs6.92. Fauji Fertilizer Company was down 2.47 percent to Rs157.22 on trade in 3.5 million shares.
Karachi stock market edged lower on Tuesday july 26 2011
Indonesia stock info - Karachi stock market edged lower on Tuesday july 26 2011 ; The Karachi stock market edged lower on Tuesday due to investors’ concerns over decline in global capital markets and foreign outflows from the local bourses.
The Karachi Stock Exchange’s 100-share index closed 30.43 points lower at 12,364.06 points against previous day’s closing of 12,394.49. The KSE-30 index lost 1.48 points or 0.01 per cent to close at 11,817.39 points.
Market turnover rose to 54.53 million shares compared to 32.82 million shares traded previously.
Ahsan Mehanti, Director at Arif Habib Investments, said that bearish activity was witnessed in the earnings announcement session amid thin trade.
Record earning announcement by MCB Bank, expectations for strong earning announcements in blue chip banks, cement, oil and fertilizer scrips this week invited investor interest, he said.
The KSE market capitalisation amounted to Rs3, 266.07 billion or $37.79 billion, while total ready market volume stood at Rs1.77 billion or $20.53 million.
Shares of 368 companies were traded yesterday. At the end of the day, only 172 stocks closed higher, 172 decreased and 101 remained unchanged.
Top gainers at the KSE were NIB Bank Limited, JS Investments Limited, Fauji Fertilizer Bin Qasim, J.O.V & Co and Azgard Nine.
APP adds from Islamabad: Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Monday as the index shed 13.91 points to close at 2785.49.
Manager of First National Equity Islamabad M.M Hassan told APP that the markets remained rangebound with stock specific activity as key development expected in the coming days.
He said that major investors preferred to take position for intra-day with strategy of short-term buy on weakness with stop-loss and sell on strength.
Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that market witnessed bearish trend because of technical correction which was due.
He said that POL, ATRL, PPL, LUCK, DGKC, NBP, FATIMA and FFBL remained favourite scrips for intra-day trading.
Total 26,000 shares were traded, 13,884 less as compared to previous day.
Out of 124 companies, the price of 45 companies’ shares increased while that of 79 ones decreased.
The price of top gainer Unilever Pakistan increased by Rs.51.01 while that of Siemens Engineering decreased by Rs.39.92 Byco Petroleum, Fatima Fertilizer and Engro Corporation were leaders with volume of 10,000, 5,000 and 4,000 shaers respectively.
The Karachi Stock Exchange’s 100-share index closed 30.43 points lower at 12,364.06 points against previous day’s closing of 12,394.49. The KSE-30 index lost 1.48 points or 0.01 per cent to close at 11,817.39 points.
Market turnover rose to 54.53 million shares compared to 32.82 million shares traded previously.
Ahsan Mehanti, Director at Arif Habib Investments, said that bearish activity was witnessed in the earnings announcement session amid thin trade.
Record earning announcement by MCB Bank, expectations for strong earning announcements in blue chip banks, cement, oil and fertilizer scrips this week invited investor interest, he said.
The KSE market capitalisation amounted to Rs3, 266.07 billion or $37.79 billion, while total ready market volume stood at Rs1.77 billion or $20.53 million.
Shares of 368 companies were traded yesterday. At the end of the day, only 172 stocks closed higher, 172 decreased and 101 remained unchanged.
Top gainers at the KSE were NIB Bank Limited, JS Investments Limited, Fauji Fertilizer Bin Qasim, J.O.V & Co and Azgard Nine.
APP adds from Islamabad: Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Monday as the index shed 13.91 points to close at 2785.49.
Manager of First National Equity Islamabad M.M Hassan told APP that the markets remained rangebound with stock specific activity as key development expected in the coming days.
He said that major investors preferred to take position for intra-day with strategy of short-term buy on weakness with stop-loss and sell on strength.
Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that market witnessed bearish trend because of technical correction which was due.
He said that POL, ATRL, PPL, LUCK, DGKC, NBP, FATIMA and FFBL remained favourite scrips for intra-day trading.
Total 26,000 shares were traded, 13,884 less as compared to previous day.
Out of 124 companies, the price of 45 companies’ shares increased while that of 79 ones decreased.
The price of top gainer Unilever Pakistan increased by Rs.51.01 while that of Siemens Engineering decreased by Rs.39.92 Byco Petroleum, Fatima Fertilizer and Engro Corporation were leaders with volume of 10,000, 5,000 and 4,000 shaers respectively.
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