Stocks recover 112 points on selective buying

KARACHI, March 22: The share market on Tuesday recovered a good part of previous losses followed by active short-covering on the blue chip counters under the lead of Engro Corporation and some leading oil shares, notably Pakistan Oilfields.

The benchmark KSE 100index recovered 112.92 points at 11,488.06 but finished well below the session’s high of 11,559.83 on late selling. But leading base shares including National Bank, OGDC, National Refinery, PSO, Fauji Fertiliser and some other remained in active demand and aided the rally.

The market has fallen beyond its technical mandate owing the nervousness exit of foreign investors, said a floor broker. “But now many are not inclined to miss an attrac tive bait of capital gains at the current lows”.

“It appears to be a judicious blend of both institutional and foreign buying in a highly oversold market,” analysts said “but sellers stayed on the sidelines anticipating the further increase in the share values”.

The market welcomed the modest return of foreign investors on selected counters but hoped that the buying could gain in stature after the Wednesday’s public holiday on account of Pakistan Day, they added.

“The city is limping back to near-normalcy after a wave of target killing during the last week and some positive signals from the political front ahead of president’s address to the parliament,” some others said.

Plus signs dominated the list after a couple of lean sessions under the lead of Indus Dyeing and Sanofi-Aventis, which were quoted higher by Rs8.13 and Rs5.33 followed by Tripack Films, Shezan International, Central Insurance, Attock Petroleum, PSO and Pakistan Tobacco, up by Rs3.87 to Rs4.69.

Prominent losers included Rafhan Maize and Unilever Pakistan, off Rs123.93 and Rs67.12. They were followed by PECO, Nestle Pakistan, Bata Pakistan and Colgate Pakistan, off by Rs6.99 to Rs14.51.

Traded volume showed a modest rise of 4,000 shares at 62.669m shares as gainers forced a strong lead over the losers at 180 to 99, with 74 shares holding on to the last levels.

The active list was topped by Lotte Pakistan, steady by 10 paisa at Rs15.74 on 6m shares followed by Azgard Nine, firm by 18 paisa at Rs9.13 on 4m shares, Bank Alfalah, up 56 paisa at Rs9.96 also on 4m shares, National Bank, higher by Rs2.66 at Rs55.99 on 3m shares, Fauji Fertiliser Bin Qasim, steady by 29 paisa at Rs39.04 on 2m shares, Sui Southern, up 35 paisa at Rs23.64 also on 2m shares, J.S. & Co, firm by 13 paisa at Rs8.79 on 2m shares.

Engro Corporation followed them, higher by Rs1.93 at Rs198.37 on 2m shares, Nishat Chunian, steady by seven paisa at Rs27.90 also on 2m shares and Pakistan Oilfields, higher by Rs2.63 at Rs314.80 on 2m shares.

FUTURE CONTRACTS: National Bank, both March and April Settlements, rose by Rs2.70 and Rs2.74 at Rs56.86 Rs57.65 on 2,280 and 1,523 shares respectively followed by Pakistan Oilfields, higher by Rs.2.24 at 315.37 on 1,826 shares.Both the settlements of Engro Corporation were marked up by Rs2.12 and Rs2.05 at Rs198.78 and Rs200.47 respectively on 0.657m and 0.512m shares.

DEFAULTER COMPANIES: The activity on this counter remained slow as investors shifted to the ready counter because of lower rates there.

Japan Power fell fractionally by one paisa at Rs.1.36 on 38,667 shares followed by Ravi Textiles, steady by five paisa at 1.02 on 13,166 shares and Dewan Auto, higher by 13 paisa at Rs1.18 on 10,252 shares. Others showed fractional either-way changes.

Stocks recover losses on covering purchases

KARACHI, March 17: Stocks were back on the rails on Thursday as investors resumed covering operations after some of the inhibiting factors, notably release of the US national by the court and the perception of resumption of normal political ties with the US, analysts said.

But it appeared to be a guarded welcome despite the fact that some of leading foreign investors were back in the market on selected counters owing to the end of tension between Pakistan and the US after the release of its national Raymond Davis arrested on murder charges, analyst Samar Iqbal said.

The benchmark recovered 63.70 points from the accumulated losses over the last couple of sessions at 11,856.27. Analyst Ahsan Mehanti hopes that the current tempo of recovery would be sustained in coming ses sions also on technical grounds.

The credit for putting the market back on the trek largely goes to some leading base shares under the lead of Pakistan Oilfields, Engro Corporation, National Bank, Fauji Fertiliser, Arif Habib Corporation and some others, which recouped a good part of the previous losses, he added.

Floor brokers said large volumes being recorded on the future market in some of the leading shares, notably Pakistan Oilfields, Engro Corporation, Fauji Fertiliser Bin Qasim and some others indicate that MTS funding is at work and would give needed depth to the market in due course.“The return of foreign investors at the current lower levels is around after the removal of one of the most pressing irritant”, they said, and added: “Oil, fertilis er and some leading banks are expected to lead the market advance.” Higher daily volumes above 100m shares, though are far below the normal figures in a rising market, indicate that the leverage funding facility may progressively changed future share outlook of the share business, they added.

Leading gainers were led by Unilever Pakistan and Unilever Foods, up by Rs92.50 and Rs52.76 followed by National Refinery, Pakistan Oilfields, Bhanero Textiles, and Indus Dyeing, up by Rs5.45 to 12.30.

Prominent losers included Nestle Pakistan and Rafhan Maize, off Rs145.83 and 42.67. They were followed by Shezan International, Fateh Textiles, Pakistan Tobacco and Sanofi Aventis, off by Rs4.92 to 7.24.

Traded volume rose to 117.023m shares from the previous 108m shares as gainers held a comfortable lead over the losers at 150 to 97, with 97 shares holding on to the last levels.

The active list was topped by Fatima Fertiliser, steady by 80 paisa at Rs13.10 on 11m shares followed by Lotte Pakistan, firm by 31 paisa at Rs15.50 on 10m shares, Nishat Chunian, steady by three paisa at Rs28.06 on 6m shares, Engro Corporation, sharply higher by Rs5.23 at Rs199.11 also on 6m shares, Dewan Salman, firm by 13 paisa at Rs2.79 on 6m shares, Nishat Power, up 86 paisa at Rs17.48 also on 6m shares, and Arif Habib Corporation, higher by Rs1.06 at Rs25.02 on 5m shares.

Other actives were led by Pace Pakistan, up 37 paisa at Rs3.20 on 5m shares, National Bank, higher by 75 paisa at Rs78.97 on 5m shares and Pakistan Oilfields, sharply higher by Rs8.76 at Rs322.40 on 4m shares.

FUTURE CONTRACTS: Engro Corporation came in for renewed speculative support and was quoted further higher by Rs4.91 at Rs199.37 on 2.010m shares followed by Pakistan Oilfields, sharply higher by Rs8.40 at Rs323.20 on 1.848m shares, and National Bank, March B, up 55 paisa at Rs58.04 on 0.820m shares.

They were followed by Fauji Fertiliser Bin Qasim, up 50 paisa at Rs39.64 on 0.471m shares and Fauji Fertiliser, higher by 30 paisa at Rs130.29 on 0.357m shares.

DEFAULTER COS: Active trading was witnessed on this counter as some of the investors covered positions in Japan Power, up five paisa at Rs1.41 on 60,202 shares and Hajra Textiles, lower by the same amount at 0.50 on 38,513 shares.

Gauhar Engineering remained under pressure and was marked down by 45 paisa at Rs1.05 on 27,500 shares followed by Redco Textiles, lower five paisa at 0.56 on 20,000 shares.

Stocks recover losses on covering purchases

KARACHI, March 17: Stocks were back on the rails on Thursday as investors resumed covering operations after some of the inhibiting factors, notably release of the US national by the court and the perception of resumption of normal political ties with the US, analysts said.

But it appeared to be a guarded welcome despite the fact that some of leading foreign investors were back in the market on selected counters owing to the end of tension between Pakistan and the US after the release of its national Raymond Davis arrested on murder charges, analyst Samar Iqbal said.

The benchmark recovered 63.70 points from the accumulated losses over the last couple of sessions at 11,856.27. Analyst Ahsan Mehanti hopes that the current tempo of recovery would be sustained in coming ses sions also on technical grounds.

The credit for putting the market back on the trek largely goes to some leading base shares under the lead of Pakistan Oilfields, Engro Corporation, National Bank, Fauji Fertiliser, Arif Habib Corporation and some others, which recouped a good part of the previous losses, he added.

Floor brokers said large volumes being recorded on the future market in some of the leading shares, notably Pakistan Oilfields, Engro Corporation, Fauji Fertiliser Bin Qasim and some others indicate that MTS funding is at work and would give needed depth to the market in due course.“The return of foreign investors at the current lower levels is around after the removal of one of the most pressing irritant”, they said, and added: “Oil, fertilis er and some leading banks are expected to lead the market advance.” Higher daily volumes above 100m shares, though are far below the normal figures in a rising market, indicate that the leverage funding facility may progressively changed future share outlook of the share business, they added.

Leading gainers were led by Unilever Pakistan and Unilever Foods, up by Rs92.50 and Rs52.76 followed by National Refinery, Pakistan Oilfields, Bhanero Textiles, and Indus Dyeing, up by Rs5.45 to 12.30.

Prominent losers included Nestle Pakistan and Rafhan Maize, off Rs145.83 and 42.67. They were followed by Shezan International, Fateh Textiles, Pakistan Tobacco and Sanofi Aventis, off by Rs4.92 to 7.24.

Traded volume rose to 117.023m shares from the previous 108m shares as gainers held a comfortable lead over the losers at 150 to 97, with 97 shares holding on to the last levels.

The active list was topped by Fatima Fertiliser, steady by 80 paisa at Rs13.10 on 11m shares followed by Lotte Pakistan, firm by 31 paisa at Rs15.50 on 10m shares, Nishat Chunian, steady by three paisa at Rs28.06 on 6m shares, Engro Corporation, sharply higher by Rs5.23 at Rs199.11 also on 6m shares, Dewan Salman, firm by 13 paisa at Rs2.79 on 6m shares, Nishat Power, up 86 paisa at Rs17.48 also on 6m shares, and Arif Habib Corporation, higher by Rs1.06 at Rs25.02 on 5m shares.

Other actives were led by Pace Pakistan, up 37 paisa at Rs3.20 on 5m shares, National Bank, higher by 75 paisa at Rs78.97 on 5m shares and Pakistan Oilfields, sharply higher by Rs8.76 at Rs322.40 on 4m shares.

FUTURE CONTRACTS: Engro Corporation came in for renewed speculative support and was quoted further higher by Rs4.91 at Rs199.37 on 2.010m shares followed by Pakistan Oilfields, sharply higher by Rs8.40 at Rs323.20 on 1.848m shares, and National Bank, March B, up 55 paisa at Rs58.04 on 0.820m shares.

They were followed by Fauji Fertiliser Bin Qasim, up 50 paisa at Rs39.64 on 0.471m shares and Fauji Fertiliser, higher by 30 paisa at Rs130.29 on 0.357m shares.

DEFAULTER COS: Active trading was witnessed on this counter as some of the investors covered positions in Japan Power, up five paisa at Rs1.41 on 60,202 shares and Hajra Textiles, lower by the same amount at 0.50 on 38,513 shares.

Gauhar Engineering remained under pressure and was marked down by 45 paisa at Rs1.05 on 27,500 shares followed by Redco Textiles, lower five paisa at 0.56 on 20,000 shares.

Stocks stay flat

KARACHI, March 14: The share market on Monday resumed trading on a dull note as the post-launching session of the Margin Trading System (MTS) failed to generate a widely expected positive investor response as was reflected by either-way fractional price changes even on the blue chip counters.

“Political uncertainty in the backdrop of warring postures adopted by the major contenders of power overshadowed the MTS launching,” said analyst Samar Iqbal, adding investors are more worried over the fate of future ties between the PPP and the MQM.

But in any case the broad reaction to the much-delayed leverage facility for the ready section was not that enthusiastic as was expected by the most analysts.The market’s terrible sluggishness was also well-reflected in the benchmark KSE 100-index, which remained dormant around the previous level closing with a fractional gain of 0.13 points at 12,045.38.

National Bank, Engro Corporation, Dawood Hercules and some leading oil shares, notably Pakistan Oilfields did not allow it to fall below the recently attained resistant level of 12,000 points.

But analyst Ahsan Mehanti hopes the sailing will be pretty smooth after the brokerage houses have re-fixed their post-MTS investment priorities to give it befitting welcome in due course.

He said conflicting signals from the political and economic front continued to have their toll on the blue chip counters keeping a large section of investors awaiting go ahead signals from their brokerage houses.

“Foreign selling kept the locals on the back-foot,” analyst Hasnain Asghar Ali said and added rising judicial-political and law order situation added to the prevailing uncertainty.

But the availability of leverage facility, however, kept the momentum positive and stocks having the capacity of trading at improved multiples did attract support, he added.

It was perhaps in this background that advancing shares have slight edge over the losers at 144 to 136, with 87 remaining unchanged at the last level of 271. But the turnover figure showed a modest rise at 77.050m shares from the previous 68m shares.

Leading gainers were led by Unilever Pakistan, Dawood Hercules, ICI Pakistan, Shezan International, Bata Pakistan, Indus Dyeing, Island Textiles and some others, which posted gains ranging from Rs5.13 to Rs90.91.

Prominent losers were led by Rafhan Maize and Nestle Pakistan, off by Rs22.99 and Rs15.94 followed by Shell Pakistan, Al-Ghazi Tractors, Attock Petroleum and Bhanero Textiles, off by Rs2.06 to Rs12.90.

The active list was led by Nimir Chemicals, firm by 31 paisa at Rs3.01 on 13m shares followed by Descon Oxychem, up 98 paisa at Rs8.96 on 10m shares, Nishat Chunian, up Rs1.31 at Rs29.03 on 6m shares, National Bank, firm by 36 paisa at Rs79.26 on 5m shares, Fatima Fertiliser, steady by 24 paisa at Rs12.57 on 4m shares, Arif Habib Corpn, up 60 paisa at Rs24.03 on 4m shares and Lotte Pakistan, steady by seven paisa at Rs15.93 also on 4m shares.

Fauji Fertiliser Bin Qasim, steady by five paisa at Rs39.86 on 3m shares, Descon Chemicals, up 44 paisa at Rs3.07 on 2m shares and Engro Corporation, higher by Rs1.14 at Rs236.64 also on 2m shares.

FUTURE CONTRACTS: National Bank-B came in for modest support and was marked by 16 paisa at Rsl58.28 on 0.810m shares followed by Engro Corpn, up 88 paisa at Rs196.59 on 0.447m shares, Fauji Fertiliser Bin Qasim, easy by 13 paisa at Rs40.03 on 0.412m shares and Pakistan Oilfields, firm by 22 paisa at Rs320.29 on 0.222m shares.

DEAFAULTER COMPANIES: Trading activity on this counter was relatively slow in the absence of active support from the investors. Japan Power led the list of active, lower four paisa at Rs4 on 82,617 shares followed by Quice Foods, up 20 paisa at Rs3.10 on 26,000 shares and S.S. Oils, easy 14 paisa at Rs4 on 7,500 shares. Others were fractionally traded.

Stocks suffer fractional fall in mixed trading

KARACHI, March 10: The stock market on Thursday turned mixed as leading base shares finished the session with clipped gains on late local selling as investors indulged in pre-MTS launch portfolio adjustments to operate in the changed funding scenario.

Analysts said much of the activity was shared by the local investors who seemed to be in upbeat mood ahead of the launching of the new leverage product for the ready section by next Monday.

There were a lot of strategic changes in the new portfolio building and those 27 coveted shares eligible for MTS funding remained in the limelight amid erratic price movements,” they added.

Most of the foreign investors remained conspicuous by their absence apparently awaiting the official launching of the leverage product for the ready section and its tangible impact on the share values, they said.

The benchmark KSE 100-index ended with a fractional fall of 2.36 points at 12,125.79, after having early risen by 94 points to intra-day high of 12,210.85. The underlying sentiment, however, remained steady thanks to presence of support at the dips.

The weakness of Engro Corporation, National Bank and some others weighed heavy against the broader market despite fresh rise in other leading shares, notably Pakistan Oilfields and Fauji Fertiliser.

The turnover figure was maintained on the higher side amid alternate bouts of buying and selling, although bulk of it was contributed by the lowpriced shares, notably Lotte Pakistan.

Losers dominated the list under the lead of Bata Pakistan and Service Industries, off by Rs20.85 and Rs10.25 followed by Attock Petroleum, HinoPak, Shezan International and Service Industries, off by Rs4.96 to Rs10.25.

Among the top gainers, Unilever Pakistan and Nestle Pakistan were prominent, up by Rs.66.99 and 24.54.They were followed by Exide Pakistan, Indus Dyeing, Dawood Hercules and Island Textiles, up by Rs3.84 to Rs8.25.

Traded volume rose to 103.069m shares from the previous 101m shares but losers forced a slight edge over the gainers at 149 to 132, with 88 shares holding on to the last levels.

The active list was topped by Lotte Pakistan, steady by 24 paisa at Rs16.07 on 30m shares followed by Fauji Fertiliser Bin Qasim, lower 44 paisa at Rs43.28 on 7m shares, PIAC(A), firm by 22 paisa at Rs2.83 on 6m shares, Pakistan Oilfields, up by Rs1.62 at Rs322.29 on 5m shares, Engro Corporation, off Rs2.35 at Rs234.84 on 4m shares, Nishat Chunian, up 28 paisa at Rs27.60 also on 4m shares and National Bank, lower 68 paisa at Rs78.87 on 4m shares.

Fauji Fertiliser followed them, up 78 paisa at Rs133.13 on 4m shares, Nishat Mills, easy six paisa at Rs64.52 on 3m shares and JS & Co, lower by nine paisa at Rs9.32 on 2m shares.

FUTURE CONTRACTS: Engro Corporation came in for active selling at the recent higher levels and was marked down by Rs2.26 at Rs195.47 on 0.885m shares followed by National Bank, off 67 paisa at Rs68.12 on 0.716m shares and Pakistan Oilfields, up Rs1.97 at Rs323.53 on 0.713m shares.

Fauji Fertiliser, firm by 62 paisa at 133.45 on 0.581m shares and Fauji Fertiliser Bin Qasim, lower 55 paisa at 40.38 on 0.581m shares.

Stocks sustain gains above 12,000-level

KARACHI, March 9: The share market on Wednesday was back on the rails followed by active short-covering on the blue chip counters at the lower levels amid an actively traded session.

The KSE 100-share index confidently settled well above the resistant level of 12,000 points at 12,128.15, up 188.14 points or 1.58 per cent adding Rs47 billion to the market capital at Rs3,264bn.

Most of the leading base shares contributed in the market rally but most prominent were Pakistan Oilfields, National Bank, Nishat Mills, Fauji Fertiliser and some leading oil shares.

“I don’t call the snap rally a technical rebound linked to market’s oversold position or optimism associated with the return of sanity on the political front,” analyst Ahsan Mehanti said.

“It could well prove a trendsetter in the sessions to come on the perceptible change in the market psychology,” he added.

But analyst Hasnain Asghar Ali said investors seemed to be taking positions on the blue chip counters, which are still at lower levels, as the leverage facility will be in place by the next week.

Essentially, it was the day of the fertiliser sector, notably Engro Corporation and Fatima Fertiliser. The former came in for strong foreign and local support and was quoted higher by Rs10.94 at Rs237.19 on 6m shares.

Fatima Fertiliser gave a credible performance in term of turnover aided by report that its global depository receipts (GDRs) will be listed on the Wall Street for regular trading. It rose by 44 paisa at Rs12.35 after having moved either-way fractionally for the last couple of months on 8m shares.

Plus signs dominated the list under the lead of Rahan Maize and Unilever Pakistan, up by Rs65.20 and Rs47.04 followed by Pakistan Refinery, National Refinery, Fauji Fertiliser, MCB Bank, Sanofi-Aventis, Service Industries and Millat Tractors, up by Rs4.45 to Rs10.94.

Indus Dyeing and Exide Pakistan topped the losers, off by Rs10.53 and Rs3.41. Others fell fractionally barring Nestle Pakistan, Exide Pakistan and Tri-Pack Films, which were marked down by Rs2.63 to Rs3.41.

Traded volume rose to 100.411m shares from the previous 54m shares as gainers forced a strong lead over the losers at 198 to 87, with 96 shares holding onto the last levels.

The active list was topped by Fauji Fertiliser, steady by 95 paisa at Rs43.72 on 8m shares, Fatima Fertiliser, firm by 44 paisa at Rs12.35 also on 8m shares, Lotte Pakistan, up 24 paisa at Rs15.83 on 7m shares, Sui Southern Gas, firm by 30 paisa at Rs25.43 on 5m shares, National Bank, higher by 72 paisa at Rs79.55 on 4m shares and Fauji Fertiliser, higher by Rs6.18 at Rs132.35 on 4m shares.Other actives were led by Pervez Securities, steady by 33 paisa at Rs2.13 on 3m shares followed by JS & Co, up 37 paisa at Rs9.41 also on 3m shares and Nishat Mills, up Rs1.02 at Rs64.58 on 3m shares.

FUTURE CONTRACTS: Engro Corporation led the list of actives on the forward counter, up Rs9.29 at Rs197.73 on a large volume of 1.652m shares, followed by Fauji Fertiliser Bin Qasim, higher by Rs1.07 at Rs40.83 on 1.650m shares and National Bank, higher by 61 paisa at Rs58.79 on 0.653m shares and its March contract, higher by 76 paisa at Rs79.75 on 0.555m shares.

Pakistan Oilfields, higher by Rs3.48 at Rs321.66 on 0.488m shares.

DEFAULTER COMPANIES: Share values also rose fractionally on this counter in sympathy with the ready section under the lead of Unicap Modaraba, up by 18 paisa at Rs0.25 on 77,000 shares.

Other actives were led by Crescent Jute, unchanged at Re1 on 32,915 shares, Invest Bank also unchanged at Rs0.51 on 31,005 shares and Genertech Power, easy three paisa at Rs0.70 on 19,005 shares.

KSE 100-index extends overnight losses

KARACHI, March 8: The share market on Tuesday finished with extended losses as leading investors remained conspicuous by their absence apparently awaiting some positive news from the polarized political scenario and a lot of manoeuvring on the Raymond Davis issue.

The benchmark KSE 100-share index ended with a fresh fall of 34.54 points at 11,940.01 as leading base shares remained under pressure on renewed profit-selling but unlike the previous session there were selective buyers.

Prominent base shares notably Pakistan Oilfields, Attock Petroleum, National Refinery, OGDC, Nishat Mills and National Bank remained under pressure and ended further lower.

However, the steep decline in the volume figure to 54.214m shares from the previous 117m shares reflected the absence of both local and foreign leading players owing perhaps to over- tures by the US diplo- mats on the Davis issue and perceived stress on Pak-US ties, some analysts said.

But the pause appears to be temporary and investors will be back in the arena as investors may have many positive reasons to be back in a big way after leverage facility is in place by the next week, they added.

But some others fear that foreign fund buying on the oil counter may not be the same as a couple of ses- sions back as the Davis issue will continue to have negative bearing on the share business for obvious reasons.

Minus signs again dominated the list under the lead of Nestle Pakistan and Unilever Pakistan, off by Rs11.92 and 34.24.

But on the other hand Bata Pakistan and Tri-Pack Pakistan were quoted higher by Rs6.80 and Rs5.30.

Turnover figure recorded sharp decline at 54.216m shares from the previous 117m shares as losers maintained a fair lead over the gainers at 154 to 110, with 103 shares holding on to the last levels.

Nimir Chemicals led the list of actives, up 27 paisa at Rs2.90 on 8m shares followed by JS Bank unchanged at Rs3.10 on 7m shares, Lotte Pakistan, steady by two paisa at Rs15.59 on 3m shares, National Bank, lower by 33 paisa at Rs78.83 also on 3m shares, Nishat Mills, off 74 paisa at Rs63.56 on 2m shares, Azgard Nine, easy 21 paisa at Rs9.04 also on 2m shares and Descon Oxychem, up 32 paisa at Rs7.31 on 1m shares.

They were followed by Fauji Fertiliser Bin Qasim, easy by 34 paisa at Rs42.77 on 1m shares, JS & Co, lower 28 paisa at Rs9.04 also on 1m shares and Arif Habib Corp, off 46 paisa at 21.21 on 1m shares.

FUTURE CONTRACTS: National Bank led the list of ac tives, off 43 paisa at Rs78.99 on 0.704m shares, Nishat Mills, off 99 paisa at Rs63.76 on 0.376m shares and Azgard Nine lower by 24 paisa at Rs9.04 on 0.349m shares.

MCB Bank, up 96 paisa at Rs201.40 on 0.334m shares and Pakistan Oilfields lower by 46 paisa at Rs318.18 on 0.327m shares.

DEFAULTER COMPANIES: Zahoor Cotton led the list of actives, up by five paisa at Rs0.30 on a large turnover of 0.248m shares followed by Japan Power, which came in for fresh selling and was marked down by four paisa at Rs1.40 on 0.207m shares and Asim Textiles, unchanged at Rs2 on 40,000 shares.

Invest Bank followed them, lower by 17 paisa at Rs0.51 on 62,067 shares, Crescent Jute, unchanged at Re1 on 34,526 shares and Ravi Textiles, steady by nine paisa at Rs1.10 on 33,107 shares.

Stocks gain 238 points ahead of MTS

KARACHI, March 4: The pre-MTS launching session in the share market on Friday was widely welcomed by the investors as they flooded the market with fresh buy stops followed by a loud whispering about the extension of the capital gains tax along with the leverage product for another year.

The benchmark added another 238.03 points or 2.02 per cent to the overnight total and confidentally settled well above its pre-reaction level of 12,000.03.

The rumour was linked to the visit of the finance minister who is due to announce the advent of the MTS on Saturday at the KSE to pull the bourse from the current impasse caused by various negative factors beyond the control of investors and the relevant authorities, analysts said.

An air of optimism prevailed in the trading hall as well as in corridors of the stock exchange as investors and brokers were in a mood to celebrate the launching of the much-delayed MTS for the ready section, some floor brokers said.

The official launching of the Margin Trading System (MTS), a new leverage product for the ready section by the finance minister on Saturday at the KSE kept the buying interest alive as investors were inclined to have an overview of the post-MTS launching market, analyst Hasnain Asghar Ali said.

“There are doubts in investor minds about the effectiveness of the new product in the prevailing political and regional situations amid fears that leading operators may exit after taking profits at the current highs”, he added.

But another leading analyst Ahsan Mehanti said the general view is that the new product would work effectively despite the fact that it may not solve all the problems being faced by the investors but some of the liq uidity problems may be addressed, in addition to minimising the negative fallout of snap bear onslaughts.

The pre-launch performance of the market, which has recovered more than 500 points or 4.5 per cent during the week after having fallen by over seven per cent a week earlier, reflects that sailing will be smooth aided partly by higher payouts and earning announcements by some of the leading companies in the banking, oil and fertilizer sectors, he added.

Prominent gainers were again led by Rafhan Maize and Unilever Pakistan, up by Rs107.56 and Rs91.62, while major losers were led by Nestle Pakistan and Bata Pakistan, off Rs55.92 and Rs15.29.

Turnover figure further rose to 187.492m shares from the previous 163m shares as gainers held a strong lead over the losers at 207 to 74, with 91 shares holding on to the last levels.

The active list was again led by Lotte Pakistan, up 97 paisa at Rs15.98 on 27m shares followed by Fauji Fertiliser Bin Qasim, firm by Rs1.45 at Rs42.69 on 16m shares, Bank Al-Falah easy by one paisa at Rs10 on 14m shares, National Bank, higher by Rs1.66 at Rs80.57 0n 12m shares, Azgard Nine, steady by 64 paisa at Rs9.53 on 8m shares, J.S. & Co, up 43 paisa at Rs9.75 on 7m shares, and TRG Pakistan, firm by 25 paisa at Rs3.47 on 6m shares.

They were followed by PTCL, up 26 paisa at Rs18.17 on 6m shares, Nishat Chunian, higher by Rs1.10 at Rs27.32 also on 6m shares and Fauji Fertiliser, sharply higher by Rs5.43 at Rs125.25 on 6m shares.

FUTURE CONTRACTS: National Bank remained in post-dividend demand and was quoted further higher by Rs2.03 at Rs80.90 on a large volume of 1.878m shares followed by Azgard Nine, steady by 70 paisa at Rs9.61 on 1.276m shares and Pakistan Oilfields, higher by Rs4.68 at Rs321.86 on 1.019m shares, higher by Rs8.67 at Rs189.02 on 0.949m shares and Fauji Fertiliser Bin Qasim, up Rs1.36 at Rs39.70 on 0.664m shares.

Stocks gain 238 points ahead of MTS

KARACHI, March 4: The pre-MTS launching session in the share market on Friday was widely welcomed by the investors as they flooded the market with fresh buy stops followed by a loud whispering about the extension of the capital gains tax along with the leverage product for another year.

The benchmark added another 238.03 points or 2.02 per cent to the overnight total and confidentally settled well above its pre-reaction level of 12,000.03.

The rumour was linked to the visit of the finance minister who is due to announce the advent of the MTS on Saturday at the KSE to pull the bourse from the current impasse caused by various negative factors beyond the control of investors and the relevant authorities, analysts said.

An air of optimism prevailed in the trading hall as well as in corridors of the stock exchange as investors and brokers were in a mood to celebrate the launching of the much-delayed MTS for the ready section, some floor brokers said.

The official launching of the Margin Trading System (MTS), a new leverage product for the ready section by the finance minister on Saturday at the KSE kept the buying interest alive as investors were inclined to have an overview of the post-MTS launching market, analyst Hasnain Asghar Ali said.

“There are doubts in investor minds about the effectiveness of the new product in the prevailing political and regional situations amid fears that leading operators may exit after taking profits at the current highs”, he added.

But another leading analyst Ahsan Mehanti said the general view is that the new product would work effectively despite the fact that it may not solve all the problems being faced by the investors but some of the liq uidity problems may be addressed, in addition to minimising the negative fallout of snap bear onslaughts.

The pre-launch performance of the market, which has recovered more than 500 points or 4.5 per cent during the week after having fallen by over seven per cent a week earlier, reflects that sailing will be smooth aided partly by higher payouts and earning announcements by some of the leading companies in the banking, oil and fertilizer sectors, he added.

Prominent gainers were again led by Rafhan Maize and Unilever Pakistan, up by Rs107.56 and Rs91.62, while major losers were led by Nestle Pakistan and Bata Pakistan, off Rs55.92 and Rs15.29.

Turnover figure further rose to 187.492m shares from the previous 163m shares as gainers held a strong lead over the losers at 207 to 74, with 91 shares holding on to the last levels.

The active list was again led by Lotte Pakistan, up 97 paisa at Rs15.98 on 27m shares followed by Fauji Fertiliser Bin Qasim, firm by Rs1.45 at Rs42.69 on 16m shares, Bank Al-Falah easy by one paisa at Rs10 on 14m shares, National Bank, higher by Rs1.66 at Rs80.57 0n 12m shares, Azgard Nine, steady by 64 paisa at Rs9.53 on 8m shares, J.S. & Co, up 43 paisa at Rs9.75 on 7m shares, and TRG Pakistan, firm by 25 paisa at Rs3.47 on 6m shares.

They were followed by PTCL, up 26 paisa at Rs18.17 on 6m shares, Nishat Chunian, higher by Rs1.10 at Rs27.32 also on 6m shares and Fauji Fertiliser, sharply higher by Rs5.43 at Rs125.25 on 6m shares.

FUTURE CONTRACTS: National Bank remained in post-dividend demand and was quoted further higher by Rs2.03 at Rs80.90 on a large volume of 1.878m shares followed by Azgard Nine, steady by 70 paisa at Rs9.61 on 1.276m shares and Pakistan Oilfields, higher by Rs4.68 at Rs321.86 on 1.019m shares, higher by Rs8.67 at Rs189.02 on 0.949m shares and Fauji Fertiliser Bin Qasim, up Rs1.36 at Rs39.70 on

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Stocks stage comeback with 319 points gain

KSE-100 index ends up, gains 319 points

Updated at: 1809 PST,  Tuesday, March 01, 2011
 KARACHI: Pakistani stocks ended more than 2.8 percent higher on Tuesday, as investors accumulated banking stocks after the National Bank of Pakistan's (NBP) full year result beat market expectations, dealers said.

The NBP announced a full year net profit for 2010 of 17.56billion rupees ($205 million) and a cash dividend of 7.5 rupees per share. The NBP ended 4.99 percent higher at 71.59 rupees.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 2.83 percent, or 319.21 points, higher at 11,608.43. Turnover rose to 153 million shares, compared with 86.23million shares traded on Monday.

"A higher than expected payout of the National Bank triggered a buying rally across the board," said Samar Iqbal, a dealer at Topline Securities Ltd.

In the currency market, the rupee ended flat at 85.67/71 to the dollar, unchanged from Monday's close, but dealers expect pressure on the local unit because of rising international oil prices.

In the money market, overnight rates also ended flat at between 12.50 percent and 13 percent, unchanged from the previous day's close despite an outflow of 8 billion rupees. Dealers expect rates to be on the higher side in the coming days.(Reuters)

KSE 100-index recovers 65 points

KARACHI, Feb 28: The share market on Monday bounced back from the recent lows on active short-covering by the institutional investors but foreign support remained a bit shy in the presence of some political depressants. The benchmark KSE 100-index recovered 65.71 points at 11,289.23 but ended off the day’s best level.

After having fallen by about eight per cent during the last week on panic-selling triggered by series of local political concerns notably worries over the ties with the US on Raymond Davis immunity issue, bulls fought back and drove bears out at least for the near-term, some analysts said.

The early rise to the session’s peak level at 11,363.64 indicated that the current recovery drive may continue in the coming sessions also as most of the leading shares now ensure a massive capital appreciation, they said.

The weakness (off Rs6.21) of the OGDC, which holds a weightage of 16 per cent in the index, was however overshadowed by steep rise in values of other leading base shares under the lead of Fauji Fertiliser, Engro Corporation and Pakistan Oilfields, which recovered Rs4.92 to Rs8.76.

The benchmark index, which has been moving within its predetermined lows and highs for the last couple of weeks, rebounded as it had already hit the stipulated low and would steadily rise to its high of well over 12,000 points during the current recovery process, they hoped.

“Foreign investors will remain selective buyers in the low-priced oil sector amid strong rumours of sharp increase in the selling prices of petroleum products,” analysts Ahsan Mehanti said “but the continued weakness of the index-heavy weight OGDC worries them”.

Analyst Hasnain Asghar Ali said apart from technical factors in a highly oversold market unofficial announcement about the launch of leverage product for the ready section could also prove one of the in stant stimulant, although it was due to be officially launched by the end of the current month.

But follow-up support remained a bit shy as investors were worried by some of the sensitive issues both on the political and economic front although broad recovery indicated that the worst may now be over, he said.

Analyst Samar Iqbal said apart from technical factors, the market also took a breather after the issue of hanging sword of rollover positions were settled amicably.

Leading gainers were led by Nestle Pakistan and Unilever Pakistan, up by Rs48 and Rs102.78. Prominent los ers were led by OGDC, off Rs6.21, followed by Rafhan Maize and Wyeth Pakistan, lower Rs77.51 and Rs31.26.

Turnover figure fell to 86.234m shares from the 157m shares but gainers held a strong lead over the losers at 190 to 84, with 90 shares holding onto the last levels.

The active list was topped by Lotte Pakistan, firm by 47 paisa at Rs14.53 on 14m shares followed by Arif Habib Corporation, up 93 paisa at Rs19.90 on 9m shares, National Bank, up Rs1.12 at Rs68.19 on 6m shares, Azgard Nine, steady by 66 paisa at Rs8.83 on 5m shares, JS & Co, higher by 77 paisa at Rs8.97 on 4m shares, Bank of Punjab, firm by 41 paisa at Rs7.11 on 3m shares and Fauji Fertiliser Bin Qasim, up 96 paisa at Rs40.33 on 3m shares.

OGDC sharply lower by Rs6.21 at Rs145.39 on 3m shares followed by Fauji Fertiliser, up Rs4.92 at Rs145.39 on 3m shares and Hub-Power, higher by Rs1.78 at Rs38.74 on 2m shares.

FUTURE CONTRACTS: The active list on this counter was topped by Azgard Nine, firm by 65 paisa at Rs8.88 on 0.978m shares followed by Pakistan Oilfields, higher by Rs8.76 on 0.682m shares and National Bank, up Rs1.12 at Rs68.58 on 0.651m shares.

Engro Corporation sharply higher by Rs5.10 at Rs173.87 on 0.426m shares and Nishat Mills, higher by Rs2.28 at Rs61.20 on 0.347m shares.

DEFAULTER COMPANIES: Japan Power again led the list of actives, up eight paisa at Rs1.38 on 80,009 shares followed by S.S. Oils, higher by 96 paisa at Rs4.56 on 76,000 shares and Ravi Textiles, up 18 paisa at Rs1.19 on 32,251 shares.