. .



1_popup_home.gif (1391 bytes) market.gif (6606 bytes)

 

THE KASB REVIEW
STOCK MARKET AT A GLANCE
  1. Stock market at a glance
  2. Finex week
  3. Stock Watch

Updated on 13 May, 2000

The KSE 100 Overview: Nearing Support levels

Down 135 points w-o-w.

The week commenced with the index at 1807.31. However, a lot of panic selling was witnessed, once the immediate support level of 1800 was breached. Sell-off intensified in the course of the week and the market pulled down to 1600 levels to close at 1650, registering a fall of 135 points w-o-w .

Cement, synthetic, fibre and other second tier stocks that had previously held quite well against an unfavorable market trend, also came under tremendous pressure, with price levels taking a sharp dive.

Hubco failed to gain support from any quarter. Contrary to earlier expectations, despite court proceedings, the tariff dispute is showing no sign of an early settlement, which has significantly dampened market spirit. The scrip lost 15.5%, tumbling from a previous closing price of Rs 23.20 to the current closing at Rs 19.60.

Two fertilizer companies announced their results. Fauji Fertilizers' FY 99 results were close to expectations, that is, lower than last year's. The company, however, has declared its first interim dividend of 20%, which led to an interesting flat closing of the scrip, recording a slight dip of only 0.28%, in the backdrop of a significant market downturn. This highlights that market emphasis is more towards income stocks, than booking capital gains. Engro, on the other hand, was unable to maintain its bottom line growth and succumbed to weak sector fundamentals, posting a net profit figures of PKR 45 mn only. We maintain our recommendation to keep fertilizers on Hold.

The upcoming budget is another factor guiding market sentiment. The players are hesitant plowing in 100% funds, so are reducing exposure and anxiously any policy decisions to facilitate them in making the correct investment decision.

In the forthcoming week, we see market settling down to 1600-1650 levels where opportunities would be sought based on values. Local institutions are maintaining restraint for now but are monitoring the market very closely, and are expected to return to the rings to accumulate on weaknesses. Any strength in the market will be limited in the range of 1750-1800 levels.

MARKET ROUNDUP

 

Last week

This Week

% Change

Mkt. Cap (US $ bn) 9.00 8.41 -6.56
KSE 100 Index 1807.31 1672.47 -7.46
Total Turnover(mn shares) 1289.39 1155.60 -10.38
Value Traded (US$ mn.) 921.49 650.59 -29.40
No. of Trading Sessions 5 5  
Avg. Dly T/O (mn. shares) 257.88 231.12 -10.38
Avg. Dly T/O (US$ mn) 184.30 130.12 -29.40
MSCI Pakistan Index:      
Pak Rs. 135.48 125.67 -7.24
US $ 67.28 62.68 -6.84

                                                       Source: KSE, MSCI, KASB


ACTIVE ISSUE

Company

CL. Price

% Chg.

Turnover

Pakistan Telecommunication 27.75 -2.97 359,445,500
ICI Pak. Ltd. 15.05 -12.24 183,586,500
Hub Power Co. 19.60 -15.52 133,620,500
Pakistan Sate Oil 193.05 -5.83 96,879,900
Ibrahim Fibres 16.65 -11.67 74,073,000

 


LEADERS

Company

Up

CL. Price

Turnover

%Chg.

EFU Life Insurance 6.95 36.00 865,500 23.92
Spencer & Co. 5.00 100.00 3,400 5.26
Berger Paints 4.90 26.00 3,500 23.22
Olympia Spinning 4.00 18.00 1,000 28.57
Trust Bank 3.50 11.50 21,500 43.75

 


LAGGARDS

Company Down Cl Price Turnover %Chg
Lever Bros. 45.00 955.00 9,980 4.50
Dewan Salman X/B 30.15 32.50 16,346,500 -48.12
Shell Pak. 27.50 279.00 85,800 -8.97
BOC (Pak) 26.00 110.00 23,000 -19.12
Nestle Milkpak 20.00 150.00 100 -11.76

 


ASIA PACIFIC & AUSTRALIA

Exchange Index Level Change %Change
Bombay BSE 4107.14 -144.22 -3.39%
Hong Kong HangSeng 15111.94 +619.02 +4.27%
Jakarta Composite 526.88 -2.32 -0.44%
Kuala Lumpur Composite 912.66 -8.05 -0.87%
Seoul Composite 740.3 -19.21 -2.53%
Singapore Straits Times 2026.65 +22.93 +1.14%
Sydney S&P/ASX200 3034.8 +38.40 +1.28%
Tokyo Nikkei 225 17357.86 +475.40 +2.82%

 


EUROPE

Exchange Index Level Change %Change
Amsterdam AEX 668.3 +9.47 +1.44%
Frankfurt DAX 7269.28 +9.80 +0.13%
Istanbul XU-100 17557.46 -339.24 -1.90%
London FTSE 6283.5 +37.60 +0.60%
Madrid General 1016.63 +5.63 +0.56%
Milan MIB Tel 31827 +314.00 +1.00%
Paris CAC 6449.27 +69.14 +1.08%
Zurich SSMI 7736.7 +29.80 +0.39%

 


UNITED STATES OF AMERICA

Exchange Index Level Change
Dow Jones Industrial 10545.97 178.19
NASDAQ Composite 3499.58 114.85