KARACHI (January 21 2009): The Karachi share market witnessed a highly volatile session on Tuesday with the KSE-100 index oscillating between 5,393.47 points high and 5,172.37 points low due to the investors' cautious stance amid the prevailing uncertainty at the market. However, the index closed at 5,258.28 points level, down by 22.47 points.
Volumes at the ready market increased significantly to 142.906 million shares as compared to 75.985 million shares traded a day earlier. Market capitalisation declined by Rs 149 million to Rs 1,677.325 billion. Trading took place in 256 scrips, out of which 130 closed in positive and 114 in negative, while the value of 12 scrips remained unchanged. OGDC was volume leader with 15.787 million shares, losing 47 paisa to close at Rs 46.46.
Hub Power gained Re. 0.19 to close at Rs 15.18 with 11.362 million shares. PTCL increased by Re. 0.53 to close at Rs 13.54 with 10.889 million shares. WorldCall Telecom closed at Rs 3.51 without any change with 10.186 million shares.
Fauji Fertiliser surged by Re. 0.47 to close at Rs 74.54 with 8.069 million shares. NIB Bank gained Re. 0.35 to close at Rs 4.76 with 7.393 million shares. NBP lost Rs 2.87 to close at Rs 54.67 with 4.992 million shares. PIA declined by Re. 0.53 to close at Rs 2.40 with 4.452 million shares.
Mybank gained Re. 0.67 to close at Rs 4.09 with 4.283 million shares. DG Khan Cement increased by Re. 0.34 to close at Rs 15.99 with 3.071 million shares. Attock Petroleum and Millat Tractors were highest gainers and gained Rs 8.42 and Rs 7.44 to close at Rs 176.82 and Rs 156.39 respectively. Wyeth Pak and Rafhan Maize were the worst losers and lost Rs 123.50 and Rs 92.13 to close at Rs 2346.50 and Rs 1750.59 respectively.
Hasnain Asghar Ali at Aziz Fidahusein and Co said that the values buying by the state fund and other private sector institutions triggered technical recovery after initial setback of 110 points, thereby allowing the green numbers to re-emerge. The recovery got support of market whisper that the board of directors of KSE had met the high-ups of SBP, and the authorities had intervened to reduce the fierce selling by banks, selling holdings of their defaulting clients. Although the index failed to sustain in green numbers after initial recovery, unprecedented foreign downpour continued.
Wednesday, January 21, 2009
Tuesday, January 20, 2009
BRIndex30 sheds 135.48 points
KARACHI (January 20 2009): On Monday, the BRIndex30 opened in the red zone and remained there for whole of the trading time, closing at 4,604.97, shedding 135.48 points. It experienced intra-day high of 4,703.98 and low of 4,596.70. The volume was 46,719,900 shares, which was 61.48 percent of KSE All Share and 85.97 percent of KSE-100 index.
The volumes were 75,985,480 and 54,342,960 for KSE All Share and KSE-100 Indices respectively. BR Commercial Banks Index closed at 1,556.23 recording a fall of -59.57 points, or -3.69 percent, and volume of 21,353,000 shares.
BR Technology and Communication Index closed at 483.36 with a net negative change of -14.55 or -2.92 percent. Volume was 13,051,400 shares. BR Oil and Gas Index closed at 990.90 recording a net negative change of -40.16 points or -3.90 percent. The volume was 12,602,800 shares.
BR Cement Index closed at 543.58 with a net negative change of -8.24 or -1.49 percent registering volume of 8,835,100 shares. BR Power Generation and Distribution Index closed at 827.17 with a net negative change of -31.13 or -3.63 percent. Volume was 2,791,200 shares.
The volumes were 75,985,480 and 54,342,960 for KSE All Share and KSE-100 Indices respectively. BR Commercial Banks Index closed at 1,556.23 recording a fall of -59.57 points, or -3.69 percent, and volume of 21,353,000 shares.
BR Technology and Communication Index closed at 483.36 with a net negative change of -14.55 or -2.92 percent. Volume was 13,051,400 shares. BR Oil and Gas Index closed at 990.90 recording a net negative change of -40.16 points or -3.90 percent. The volume was 12,602,800 shares.
BR Cement Index closed at 543.58 with a net negative change of -8.24 or -1.49 percent registering volume of 8,835,100 shares. BR Power Generation and Distribution Index closed at 827.17 with a net negative change of -31.13 or -3.63 percent. Volume was 2,791,200 shares.
KSE dips to 50-month low
KARACHI (January 20 2009): Heavy selling pressure was observed at Karachi share market on Monday and KSE-100 index plunged 231.18 points, or 4.19 percent, to close at 50-month low level of 5,280.75 points. The market opened on a negative note and the index hit 5,264.69 points day's low level. Trading volumes at the ready counter increased to 75.985 million shares as compared to 72.263 million shares traded on last Friday.
Market capitalisation declined by Rs 66 billion to Rs 1.677 trillion. Trading took place in 252 scrips, out of which 184 scrips closed in negative and 60 in positive while the value of eight scrips remained unchanged. Mybank was the volume leader with 7.803 million shares, losing Re. 0.91 to close at Rs 3.42. NIB Bank declined by Re. 0.13 to close at Rs 4.41 with 7.459 million shares. PTCL decreased by Re. 0.99 to close at Rs 13.01 with 7.045 million shares.
OGDC lost Rs 2.47 to close at Rs 46.93 with 6.635 million shares. Zeal Pak closed at Re. 0.48, up by Re. 0.01 with 4.941 million shares. TRG Pakistan gained Re. 0.10 to close at Rs 9.33 with 2.963 million shares. WorldCall Telecom increased by Re. 0.13 to close at Rs 3.51 with 2.896 million shares. Pak PTA surged by Re. 0.11 to close at Rs 2.08 with 2.292 million shares. Bosicor Pakistan closed at Rs 5.79, up by Re. 0.52 with 2.037 million shares. PPL lost Rs 5.17 to close at Rs 126.00 with 1.656 million shares.
Unilever Pakistan and Service Industries were the highest gainers and gained Rs 87.66 and Rs 1.77 to close at Rs 1963.91 and Rs 57.90 respectively. Wyeth Pakistan and Rafhan Maize were the worst losers and lost Rs 130.00 and Rs 96.98 to close at Rs 2470.00 and Rs 1842.72 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Securities said that last week's bears' onslaught continued and desperate exit seekers paid no respect to the valuations, thus keeping the 'loss minimising' on priority. Foreign and local selling (mainly by corporate) never allowed the equities to settle. Cautious accumulation was, however, evident in the main board stocks, mainly the state fund and private sector institutions, thereby allowing the market breather in post-initial hours of trading. Fierce selling pushed the market in further red zone. As soon as the thirst of the accumulators quenched, the float swept the board and almost all the main board stocks witnessed lower locks.
Market capitalisation declined by Rs 66 billion to Rs 1.677 trillion. Trading took place in 252 scrips, out of which 184 scrips closed in negative and 60 in positive while the value of eight scrips remained unchanged. Mybank was the volume leader with 7.803 million shares, losing Re. 0.91 to close at Rs 3.42. NIB Bank declined by Re. 0.13 to close at Rs 4.41 with 7.459 million shares. PTCL decreased by Re. 0.99 to close at Rs 13.01 with 7.045 million shares.
OGDC lost Rs 2.47 to close at Rs 46.93 with 6.635 million shares. Zeal Pak closed at Re. 0.48, up by Re. 0.01 with 4.941 million shares. TRG Pakistan gained Re. 0.10 to close at Rs 9.33 with 2.963 million shares. WorldCall Telecom increased by Re. 0.13 to close at Rs 3.51 with 2.896 million shares. Pak PTA surged by Re. 0.11 to close at Rs 2.08 with 2.292 million shares. Bosicor Pakistan closed at Rs 5.79, up by Re. 0.52 with 2.037 million shares. PPL lost Rs 5.17 to close at Rs 126.00 with 1.656 million shares.
Unilever Pakistan and Service Industries were the highest gainers and gained Rs 87.66 and Rs 1.77 to close at Rs 1963.91 and Rs 57.90 respectively. Wyeth Pakistan and Rafhan Maize were the worst losers and lost Rs 130.00 and Rs 96.98 to close at Rs 2470.00 and Rs 1842.72 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Securities said that last week's bears' onslaught continued and desperate exit seekers paid no respect to the valuations, thus keeping the 'loss minimising' on priority. Foreign and local selling (mainly by corporate) never allowed the equities to settle. Cautious accumulation was, however, evident in the main board stocks, mainly the state fund and private sector institutions, thereby allowing the market breather in post-initial hours of trading. Fierce selling pushed the market in further red zone. As soon as the thirst of the accumulators quenched, the float swept the board and almost all the main board stocks witnessed lower locks.
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