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THE KASB REVIEW
STOCK MARKET AT A GLANCE

  1. FINEX WEEK
  2. STOCK WATCH
  3. STOCK MARKET AT A GLANCE

Updated on Jul 03, 2000

The KSE 100 Index, after registering minimal activity during the week, closed at 1520.73 down a mere .03 per cent compared to the start-of-the-week level of 1521.24.

This lackluster performance throughout the week was a standard prelude to the June 30 financial year closing for most institutions and corporates. The index remained range bound in the band of 1500-1550 while the volumes were seen dipping to extreme lows. The five-day trading average volumes stood at 110.28 mn shares, as against the previous week's 208 mn, and touched a low of 57 mn shares (the lowest recorded over the period January to June). The prime factor driving this sluggish phase was considered to be the technical pause the investors seem to be taking to dress up their portfolios.

The budget had ignored sector specific measures because of which the market reciprocated in an equally disinterested manner, and continued to remain dull in the preceding weeks. However, true to expectations, the post-budget trade policy was revealed this week, with major emphasis on the textile sector, especially in terms of value added exports..

The market also swayed upward in response to a government announcement stating that the privatization process of PTCL, PSO and Sui Northern is to be expedited, with more details on this front expected to appear next month.

The spread between 50 DMA and 200 DMA continues to narrow down and had almost declined to optimum differential. If this is maintained, a stable medium term trend will be defined. But after convergence of the two, if 50 DMA moves below the 200 DMA, a bearish period will emerge.

Given the underlying strength in the textile and synthetic sector and heightened demand for oil and gas, 50 DMA is expected to sustain above 200 DMA and a positive medium term price movement is due to emerge.

Initial support in the forthcoming period will surface at 1500, with major support anticipated at 1450. Resistance is seen at 1550, and if that consolidates, we may witness major resistance develop at 1650.

 

MARKET ROUNDUP

.

LAST WEEK

THIS WEEK

% CHANGE

Mkt. Cap (US$ bn)

7.61 7.54 -0.92%

KSE 100 Index

1521.24 1520.73 -0.03%

Total Turnover (mn shares)

1041.21 551.42 -47.04%

Value Traded (US$ mn.)

825.48 342.09 -58.56%

No. of Trading Sessions

5 5  

Avg. Dly T/O (mn. shares)

208.24 110.28 -47.04%

Avg. Dly T/O (US$ mn)

165.10 68.42 -58.56%

MSCI Pakistan Index:

     

Pak Rs.

106.86 106.12 -0.69%

US $

52.74 52.35 -0.74%

Source: KSE, MSCI, KASB


 

ACTIVE ISSUE

COMPANY

CL. PRICE

% CHG.

TURNOVER

Sui Northern Gas

16.20 16.13 292,430,500

Hub Power Company

14.55 -6.73 227,161,000

Pakistan Telecomm.

27.00 0.93 175,182,500

ICI Pakistan Limited

15.00 -3.23 155,117,600

Pakistan State Oil

162.65 0.15 40,166,500

 


 

LEADERS

COMPANY

UP

CL. PRICE

TURNOVER

%CHG.

Shell Pakistan

18.00 275.00 217,200 7.00

BOC Pak. Ltd.

12.90 113.90 18,500 12.77

J.O.V. & Company Ltd.

7.00 50.00 5,500 16.28

Gulshan Spinning

5.50 16.50 500 50.00

Faisal Spinning

5.25 25.50 6,000 25.93

 


 

LAGGARDS
COMPANY DOWN Cl PRICE TURNOVER %CHG
Grays of Cambridge 44.75 255.00 200 -14.93
Lever Brothers Pakistan 37.95 940.00 28,840 -3.88
Parke Davis 12.50 380.00 400 -3.18
Burma Oil 9.00 10.00 500 47.37
Fazal Textile 7.00 43.00 3,500 -14.00

 


 

ASIA PACIFIC & AUSTRALIA
EXCHANGE INDEX lEVEL CHANGE EXCHANGE

Bombay

BSE 4748.77 -43.97 -0.92%

Hong Kong

Hang Seng 16155.78 - 131.02 -0.80%

Jakarta

Composite 515.11 +2.51 +0.49%

Kuala Lumpur

Composite 833.37 +3.12 +0.38%

Seoul

Composite 821.22 +2.32 +0.28%

Singapore

Straits Times 2037.97 -11.74 -0.57%

Sydney

S&P/ASX200 3311.2 +56.70 +1.74%

Tokyo

Nikkei 225 17411.05 -64.85 -0.37%

 


 

EUROPE
EXCHANGE IINDEX LEVEL CHANGE EXCHANGE
Amsterdam AEX 672.14 +5.42 +0.81%
Frankfurt DAX 6898.21 +23.67 +0.34%
Istanbul XU-100 14466.12 +61.17 +0.42%
London FTSE 6312.7 +73.70 +1.18%
Madrid General 974.06 +17.74 +1.86%
Milan MIB Tel 31749 +468.00 1.50%
Paris CAC 6446.54 +45.72 +0.71 %
Zurich SSMI 7761.6 +51.10 +0.66%

 


 

UNITED STATES OF AMERICA

EXCHANGE

INDEX

LEVEL

CHANGE

Dow Jones Industrial 10447.89 49.85
NASDAQ Composite 3966.11 88.88