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

Updated on 22 May, 2000

The KSE 100 Overview: Nearing Support levels

Down 135 points w-o-w.

When the week began, the market initially found support at 1600 levels, but slid down to 1550 levels for a short while, only to recover back to 1600 the very next day. Starting out at 1672.47 levels, trading ceased at 1681.09 levels, registering a slight push upward by a 0.52% wow.

The emergence of this situation is identified as a reversal, and our strategy to hold at 1650 levels and accumulate if the market flitted in the band of 1600- 1650 held up well.

The major breakthrough that propelled the index levels towards revival was progress on the Hubco-Wapda talks. Shaukat Aziz's visit to Dubai, arranged by the World Bank, to meet senior representatives from Hubco in yet another bid to resolve the tariff issue has effectively geared the market towards recovery. The share price fully discounted this new development by surging 9.4% over last weeks closing of 19.60.

PSO was seen trading initially within the band of 150-155, which stimulated renewed buying interest for the scrip and it too closed at a higher level of Rs172.

The market was depressed for a while following the news of the killing of a Muslim scholar, that provoked a lot of unrest in the city.

Bargain hunters and institutions have already booked their profits around the 2000-2050 levels and are now prowling on the sidelines waiting to re enter and extend full exposure. We expect them to start Accumulating as soon as the market touches anywhere from 1600 levels and below.

Support at 1600 levels should form a strong base in the forthcoming week, and any weakness should be effectively used to Accumulate instantly. Resistance is anticipated around 1700 levels and if that level is breached, then the market may touch upon 1800 levels.

On an ending note, any positive news regarding Hubco holds strong potential to propel the Index by up to 100 points.

MARKET ROUNDUP

 

Last week

This Week

% Change

Mkt. Cap (US $ bn) 8.41 8.43 0.24
KSE 100 Index 1672.47 1681.08 0.51
Total Turnover (mn shares) 1155.60 1504.05 30 15
Value Traded (US$ mn.) 650.59 1007.60 54.87
No. of Trading Sessions 5 5  
Avg. Dly T/O (mn. shares) 231.12 300.81 30.15
Avg. Dly T/O (US$ mn) 130.12 201.52 54.87
MSCI Pakistan Index:      
Pak Rs. 121.45 119.49 -1 61
US $ 60.32 59.32 -1 66

 

                                                       Source: KSE, MSCI, KASB


ACTIVE ISSUE

 

Company

CL. Price

% Chg.

Turnover

Pakistan Telecommunication 26.55 -4.32 449,325,000
Hub Power Co. 21.45 9.44 318,714,000
ICI Pak. Ltd. 16.80 11.63 297,788,000
Pakistan State Oil 172.00 -10.90 134,524,700
Dhan Fibres 14.05 19.57 63,361,500

 


LEADERS

Company

Up

CL. Price

Turnover

%Chg.

Fateh Textile 200.00 1200.00 100 20.00
Lever Bros. 50.00 1005.00 117,980 5.24
Nestle Milkpak 19.00 169.00 3,300 12.67
Shell Pakistan 12.00 291.00 152,900 4.30
Al-Ghazi Tractors 9.90 79.90 3,500 14.14

 


LAGGARDS

Company Down Cl Price Turnover %Chg
Pakistan Insurance Corp. 105.00 365.00 100 -22.34
Shell Gas LPG 35.00 135.00 100 -20.59
Pakistan State Oil 21.05 172.00 134,524,700 -10.90
Parke Davis 10.00 410.00 100 -2.38
Hoechst Marion Roussel 8.00 32.00 500 -20.00

 


 

Asia Pacific & Australia

exchange index level change %change
Bombay BSE 4068.65 -123.79 -2.95%
Hong Kong HangSeng 14478.26 +155.66 +1.09%
Jakarta Composite 509.4 -5.45 -1.06%
Kuala Lumpur Composite 950.62 +28.32 +3.07%
Seoul Composite 730.68 +17.73 +2.49%
Singapore Straits Times 1992.42 -19.41 -0.96%
Sydney S&P/ASX200 3039.1 -5.80 -0.19%
Tokyo Nikkei 225 16858.17 -173.46 -1.02%

 


Europe

exchange index level change %change
Amsterdam AEX 652.45 -15.77 -2.36%
Frankfurt DAX 6989.03 -192.55 -2.68%
Istanbul XU-100 16449.27 -476.04 -2.81%
London FTSE 6045.4 -187.50 -3.01%
Madrid General 970.75 -29.43 -2.94%
Milan MlBTel 30491 -1300.00 -4.09%
Paris CAC 6196.05 -255.92 -3.97%
Zurich SSMI 7718.7 -76.90 -0.99%



United States Of America

Dow Jones Industrial 10626.85 -150.43
NASDAQ Composite 3390.40 -148.31