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Index loses 232.6 points

A bearish trend was witnessed on the Karachi share market on Wednesday due to selling by both local and foreign investors and the benchmark KSE-100 index declined by 232.6 points to close at 14,081.07 points. The foreign investors remained net sellers and withdrew 1.67 million dollars from the local equity market. After slight positive opening, the investors´ interest is some selected stocks supported the index to hit 14,335.06 points intra-day high level. However, the investors opted for selling and the index dropped into negative zone at 14,064.52 points intra-day low level. Trading activities also reduced as the volumes at ready counter declined to 146 million shares as compared to 152.8 million shares traded on Tuesday. Total market capitalisation declined by Rs 58 billion to stand at Rs 3.597 trillion. Of the total 371 active stocks, 237 closed in negative and only 76 in positive while the value of 58 stocks remained unchanged. DG Khan Cement was the volume leader with 15.98 million shares however lost Rs 1.95 to close at Rs 41.2. In the other cement sector stocks, Fauji Cement decreased by Re 0.18 to close at Rs 6.01 with 4.478 million shares. Engro Foods declined by Rs 3.09 to close at Rs 60.58 with 14.795 million shares, while PTCL plunged by Re 0.86 to close at Rs 16.12 with 14.665 million shares, and Jahangir Siddiqui Co lost Re 0.68 to close at Rs 15.91 with 9.115 million shares. Bankislami Pakistan increased by Re 1.00 to close at Rs 8.97 with 5.954 million shares. In the fertiliser sector, Fattier Fertiliser Co and Engro Corporation declined by Re 0.76 and Rs 5.12 to close at Rs 24.48 and Rs 103.29 with 4.763 million shares and 4.138 million shares respectively. Lotte Pakistan PTA lost Re 0.25 to close at Rs 9.17 with 4.668 million shares, Hub Power Company decreased by Re 0.76 to close at Rs 38.75 with 4.432 million shares. Unilever Food and Mithchells Fruit were the top gainers increasing by Rs 74.45 and Rs 9.00 to close at Rs 3245.45 and Rs 205 respectively, while Unilever Pak and Nestle Pakistan were the top losers declining by Rs 84.23 and Rs 83.43 to close at Rs 7,052 and Rs 4004.57 respectively. Samar Iqbal at Topline Securities said that local market fell in line with fall in global stock markets. Investors trim their position as they fear more foreign selling if regional markets bearish trend continue. Reduction in cement prices affected cement stocks especially DG Khan and Lucky Cement.
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LSE index falls 93.15 points

Bearish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities remained under selling pressure that throughout the day. The LSE-25 index was slide down to 3626.15 against 3719.3 of Tuesday, denoting a fall of 93.15 points while transaction volume was increased to 3.125 million shares as compared to 2.037 million shares traded a day earlier. The market was opened on a depressed note and kept on declining during the entire day´s trading. The market did not find any supply at any level, as investors stayed away from the buying course. As a result almost all the bluechips and ready board shares like Engro Corporation, MCB Bank, Habib Bank, Bank of Punjab, NIB Bank, Engro Foods, Adamjee Insurance, Nishat Mills, Attock Refinery, PPL, Kohat Cement, Dewan Cement, Fauji Cement, DG Khan Cement, Lucky Cement, Lafarge Pakistan Cement, Lotte Pakistan PTA and PTCL registered losses. However, MACPAC Films, Japan Power and Samba Bank resisted pressure with marginal gains. The losers were far more than the gainers, as of 96 active issues, three companies posted gains, 42 stayed in minus column while 51 companies remained unchanged at their previous closing. MACPAC Films gained Rs 1.03 while Japan Power was improved by two-paisa. In the negative column, Engro Corporation lost Rs 5.23, Lucky Cement was declined by Rs 3.94, MCB Bank was depreciated by Rs 3.57, PPL shed Rs 3.29 while Engro Foods and Adamjee Insurance were down by Rs 3.03 and Rs 2.9 respectively. Fauji Cement with trading of 446,716 shares topped the volume leaders while D G Khan Cement stayed as runner up with 401,456 shares.
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ISE index sheds 45.04 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 45.04 points as the ISE Ten Index moved from 2,860.01 to 2,814.97 points. The overall turnover amounted to 30,500 shares as compared to previous turnover of 32,950 shares. Total 142 companies participated in buying and selling activity. Majority of stocks (123) closed in negative territory, 19 landed in plus column and no company remained pegged to its overnight levels. The volume of PTCL was 20,000 shares. The volume of Lafrage Pakistan Cement was 8,000 shares. The turnover of Engro Corporation was 1,700 shares.
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BRIndex30 down by 248.95 points

On Wednesday, BRIndex30 opened at 10,583.52 and remained in a downward trend almost since market opening. It touched an intraday high of 10,588.20 and an intraday low of 10,314.38 and closed at 10,334.57 which was -248.95 points or -2.35 percent lower than previous close. Total volume was 101,405,764, which was 69.46 percent of KSE All share volume and 91.66 percent of KSE 100 volume. The KSE All Share volume was 146,000,671 and KSE 100 volume was 110,634,328. BR Cement Index closed at 1,061.90 with a net negative change of -31.28 points or a percentage change of -2.86 and a total turnover of 30,950,827. BR Commercial Banks Index closed at 3,155.35 with a net negative change of -59.88 points or a percentage change of -1.86 and a total turnover of 20,887,659. BR Tech. & Comm. Index closed at 458.88 with a net negative change of -17.26 points or a percentage change of -3.62 and a total turnover of 19,535,391. BR Power Generation and Distribution Index closed at 2,131.67 with a net negative change of -42.81 points or a percentage change of -1.97 and a total turnover of 7,501,085. BR Oil and Gas Index closed at 2,938.97 with a net negative change of -32.22 points or a percentage change of -1.08 and a total turnover of 3,172,542.
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KSE proposes delisting of 26 companies

The Karachi Stock Exchange (KSE) has proposed delisting of 26 listed companies presently at default counter due to non-compliance of the Listing Regulations of the Exchange. With reference to its earlier notices dated February 10, 2012 and dated February 15, 2012 regarding non-compliance of the Listing Regulation No 30 of the Exchange by these companies, which inter alia include non-holding of Annual General Meetings for two or more years, the KSE in its notice issued on Wednesday said these companies have failed to rectify the default(s) within the stipulated time and therefore liable for action under the said Regulation. Therefore, the Exchange in the interest of investors´ protection and in accordance with Listing Regulation No 30(1)(b)(iii) intends to now delist these 26 companies namely Al-Mal Securities and Services Limited, Dominion Stock Fund Limited, Harum Textile Mills Limited, Investec Securities Limited, Kashmir Plytex Limited, Pakistan Industrial and Commercial Leasing Limited, Sahrish Textile Mills Limited, Usman Textile Mills Limited, The Union Insurance Company of Pakistan Limited, Dadabhoy Insurance Company Limited, First Islamic Modaraba, The Ittefaq General Insurance Company Limited, Ittefaq Textile Mills Limited, MacDonald Layton and Company Limited, Mian Muhammad Sugar Mills Limited, Zahur Textile Mills Limited, Accord Textiles Limited, Al-Azhar Textile Mills Limited, Al-Qaim Textile Mills Limited, Amin Spinning Mills Limited, Fawad Textile Mills Limited, Indus Fruit Products Limited, Libaas Textile Limited, Mubarik Dairies Limited, Shahpur Textile Mills Limited and AMZ Ventures Limited. "The concerned companies / managements are hereby notified that, if they have any objection to the proposed delisting, they must inform the Exchange in writing within 30 days of publication of this notice, otherwise the Exchange in compliance with the above referred Regulation, will proceed further and take action of delisting of the companies", the KSE notice said. It is further notified that trading in the shares of the companies shall remain suspended in exercise of the powers vested in the Exchange under the Sub-section (7) of Section 9 of the Securities and Exchange Ordinance, 1969 and the Listing Regulations of the Exchange, it added.
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News

News

Index loses 232.6 points

LSE index falls 93.15 points

ISE index sheds 45.04 points

BRIndex30 down by 248.95 points

KSE proposes delisting of 26 companies

Companies Announcements