Bulls extended their lead at Karachi Stock Exchange (KSE) Thursday which gained over 1 per cent to close near 9,000 levels with improved investor participation as Moody's maintained country's ratings as stable, while improved security situation and better economic numbers also played catalyst role.
The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.
Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.
Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).
Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.
Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.
Friday, December 11, 2009
Karachi Stock Exchange (KSE) Draws Gains From Moody's
Bulls extended their lead at Karachi Stock Exchange (KSE) Thursday which gained over 1 per cent to close near 9,000 levels with improved investor participation as Moody's maintained country's ratings as stable, while improved security situation and better economic numbers also played catalyst role.
The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.
Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.
Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).
Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.
Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.
The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.
Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.
Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).
Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.
Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.
Nikkei Falls On Yen, Credit Woes
Japan's Nikkei average fell 1.4 per cent Thursday after a recent sharp rebound, as credit troubles overseas weighed on investor confidence and a stronger yen pressured shares of exporters.
"Credit worries in places like Dubai and Spain are curbing investors' appetite to keep buying stocks, sending the market lower," said Soichiro Monji, a chief strategist at Daiwa SB Investments.
In light trade, the benchmark Nikkei lost 141.90 points to 9,862.82, falling for a third day after having gained nearly 12 per cent in a six-day rally to Monday. The broader Topix retreated 1.3 per cent to 873.90.
Suzuki dropped to 2,215 yen. Among other exporters, Honda Motor Co slipped 1.5 per cent to 2,930 yen and Toyota Motor Corp shed 1.6 per cent to 3,650 yen. But Sanyo Electric surged 10.7 per cent to 176 yen following the closure of Panasonic Corp's tender offer the previous day, with Panasonic expected to take a majority stake, leading to synergies between the two electronics firms.
"Credit worries in places like Dubai and Spain are curbing investors' appetite to keep buying stocks, sending the market lower," said Soichiro Monji, a chief strategist at Daiwa SB Investments.
In light trade, the benchmark Nikkei lost 141.90 points to 9,862.82, falling for a third day after having gained nearly 12 per cent in a six-day rally to Monday. The broader Topix retreated 1.3 per cent to 873.90.
Suzuki dropped to 2,215 yen. Among other exporters, Honda Motor Co slipped 1.5 per cent to 2,930 yen and Toyota Motor Corp shed 1.6 per cent to 3,650 yen. But Sanyo Electric surged 10.7 per cent to 176 yen following the closure of Panasonic Corp's tender offer the previous day, with Panasonic expected to take a majority stake, leading to synergies between the two electronics firms.
Election 2010 - Karachi Stock Exchange BoD
Amin Yusuf
There should be securities-based margin in Deliverable Futures rather than cash-based
Develop system-based leverage product which would be user-friendly Settle investor claims sooner and return them maximum possible portion of their claims Implement sector trading, option trading Steps to increase investor size like road shows etc Launch Margin Trading in the earliest possible time after its approval from SECP Bring more companies through Initial Public Offering (IPOs)
Steps to improve investor confidence.
Haji Ghani Haji Usman
Implement Margin Financing & Margin Trading at the earliest Solve issues between banks and members politely To give maximum possible return to investors against their claims Members’ issue be resolved amicably Would take measures to improve investor confidence.
There should be securities-based margin in Deliverable Futures rather than cash-based
Develop system-based leverage product which would be user-friendly Settle investor claims sooner and return them maximum possible portion of their claims Implement sector trading, option trading Steps to increase investor size like road shows etc Launch Margin Trading in the earliest possible time after its approval from SECP Bring more companies through Initial Public Offering (IPOs)
Steps to improve investor confidence.
Haji Ghani Haji Usman
Implement Margin Financing & Margin Trading at the earliest Solve issues between banks and members politely To give maximum possible return to investors against their claims Members’ issue be resolved amicably Would take measures to improve investor confidence.
Tuesday, December 8, 2009
Research Analyst on 08/12/2009 (Karachi Stock Exchage)
Market would show rangebound activities and index can further lose 200-300 points as there is uncertainty over the National Reconciliation Ordinance issue, lack of institutional activity due to year-end and limited foreign interest due to holidays ahead. Therefore investors are suggested to wait for the market to come down to 8700-8800 levels then invest in stocks in banking, oil and fertilizer sectors with dividend yield and price appreciation. Good corporate results would support the market. Market performance would stay weak today.
Karachi Stock Exchange (KSE) Turnover Hits 5mth Low
Karachi Stock Exchange (KSE) continued to register dull activities on first trading day of the week with volumes reducing to over 5-mth low and index finally going below psychological barrier of 9,000 owing mainly to deteriorating law and order situation and political uncertainty over NRO.
The benchmark KSE 100-Index declined by 16.21 points or 0.18 per cent to close at 8,992.92 levels, KSE 30-Index shed 24.08 points or 0.25 per cent to end at 9,440.05, whereas KSE All Share Index lost 12.74 points or 0.20 per cent to finish the first trading session of the week at 6,396.22 levels.
Market remained lacklustre as volumes were 23-week low. Moreover year-end also restricted institutions to take fresh positions at the trading counter, he added.
Investor participation remained very low right throughout the day as 73.7 million shares were traded in the overall market which is the lowest of over five months as 42.6 million shares were traded on July 3, 2009 while it is 31 million shares less as compared to a turnover of 103.7 million shares traded Friday.
Trading activities started with a gain of 20 points and after remaining in the positive zone for around two hours where during the initial moments it touched an intra-day high of 9,045 points (+ve 36 points). However investor participation was limited as they were reluctant to take positions over current grim political and security situation in the country. Then after the news of bomb blast in Peshawar and Quetta some negative activities witnessed and index went down into the negative zone where at about 1438 PST it touched an intra-day low of 8,979 points (-ve 29 points) and finally closed near those levels.
Foreign investors also showed limited interest as according to the National Clearing Company of Pakistan Limited (NCCPL), there was a net foreign buying of $0.6 million Monday. However local companies and banks did a net buying of $3.82 and $2.42 million respectively, while NBFC did a net selling of $6.27 million.
Out of total 396 active issues, 202 declined and 164 advanced while 30 issues remained unchanged.
The benchmark KSE 100-Index declined by 16.21 points or 0.18 per cent to close at 8,992.92 levels, KSE 30-Index shed 24.08 points or 0.25 per cent to end at 9,440.05, whereas KSE All Share Index lost 12.74 points or 0.20 per cent to finish the first trading session of the week at 6,396.22 levels.
Market remained lacklustre as volumes were 23-week low. Moreover year-end also restricted institutions to take fresh positions at the trading counter, he added.
Investor participation remained very low right throughout the day as 73.7 million shares were traded in the overall market which is the lowest of over five months as 42.6 million shares were traded on July 3, 2009 while it is 31 million shares less as compared to a turnover of 103.7 million shares traded Friday.
Trading activities started with a gain of 20 points and after remaining in the positive zone for around two hours where during the initial moments it touched an intra-day high of 9,045 points (+ve 36 points). However investor participation was limited as they were reluctant to take positions over current grim political and security situation in the country. Then after the news of bomb blast in Peshawar and Quetta some negative activities witnessed and index went down into the negative zone where at about 1438 PST it touched an intra-day low of 8,979 points (-ve 29 points) and finally closed near those levels.
Foreign investors also showed limited interest as according to the National Clearing Company of Pakistan Limited (NCCPL), there was a net foreign buying of $0.6 million Monday. However local companies and banks did a net buying of $3.82 and $2.42 million respectively, while NBFC did a net selling of $6.27 million.
Out of total 396 active issues, 202 declined and 164 advanced while 30 issues remained unchanged.
Karachi Stock Exchange (KSE) declares eligible scrips for short selling in 30-Index
The Board of Directors of Karachi Stock Exchange (KSE) has approved KSE 30-Index as eligible securities for short selling under ready market, effective from January 4, 2010.
According to KSE announcement here Monday, these securities include Arif Habib Ltd, Adamjee Insurance, Azgard Nine Ltd, Attock Petroleum Ltd, Attock Refinery Ltd, Bank Al-Habib, Bank Alfalah, DG Khan Cement, Engro Chemical, FFBL, FFC, HBL, HUBCO, ICI Pakistan, Jahangir Siddiqui Co, Kot Addu Power Company Ltd, Lucky Cement, MCB Bank, NBP, Nishat Mills, National Refinery, OGDC, Pakistan Reinsurance, Packages Ltd, POL, PPL, PSO, PTCL, Shell Pakistan Ltd and UBL.
According to KSE announcement here Monday, these securities include Arif Habib Ltd, Adamjee Insurance, Azgard Nine Ltd, Attock Petroleum Ltd, Attock Refinery Ltd, Bank Al-Habib, Bank Alfalah, DG Khan Cement, Engro Chemical, FFBL, FFC, HBL, HUBCO, ICI Pakistan, Jahangir Siddiqui Co, Kot Addu Power Company Ltd, Lucky Cement, MCB Bank, NBP, Nishat Mills, National Refinery, OGDC, Pakistan Reinsurance, Packages Ltd, POL, PPL, PSO, PTCL, Shell Pakistan Ltd and UBL.
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