December 19, 2007	Wednesday	Zilhaj 8, 1428

KARACHI, Dec 18: Stocks on Tuesday lacked normal trading interest as leading investors were not inclined to make fresh commitments but rather took profit on selected counters at the inflated levels.

The market, therefore, passed through another lean session ahead of Eid holidays but larger fall was averted as was evident from mostly fractional either-way gains and losses on most of the inactive sectors.

The KSE 100-share index suffered a fresh decline of 35.93 points at 14,508.29 as compared to 14,544.22 a day earlier, while its junior partner the 30-share index showed a bigger fall of 109.18 points at 17,303.

Although low-priced bank and cement shares came in for active support as they have the potential of capital gains, high profile issues and blue chips were neglected as investors were not inclined to take even calculated risks, floor brokers said.

Bosicor Pakistan, on reports of talk on its sale to a Dubai-based company, was leading among the low-priced shares followed by Pakistan Cement, Dost Steels and JS Bank, which showed good gains amid active trading.

The entire trading affair was of a jobbing nature as short-term dealers and jobbers played on both side of the fence, without taking any risk.

Analysts said owing to a long weekend ahead, investors were not inclined to indulge bargain-hunting or speculative trading because of risks involved during the intervening holidays and kept to the sidelines.

However, it was satisfying to note that larger fall was averted and bulk of the selling was absorbed at the dips, notably on some of the leading shares.

Leading gainers were again led by JS & Co and Pakistan Resource Company, up by Rs44.80 and Rs21. Other good gainers included Clover Pakistan, Cherat Papersack, EFU Life, Shell Gas, Murree Brewery, Rafhan Maize, Unilever AKD Securities and National Foods, which posted gains ranging from Rs5 to Rs20.15.

Pakistan Engineering and Treet Corporation were prominent among the losers, off by Rs14.75 and Rs12 followed by JS Global, Mirpurkhas Sugar, EFU Life, PSO, Pakistan Oilfields, PNSC, Bata Pakistan, Tri-Pack Films and KSB Pumps, which rose by Rs3.65 to Rs11.65.

Trading volume shrank further to 167m shares from the previous 180m shares as losers held a modest lead over the gainers at 183 to 161, with 38 shares holding on to the last levels.

Bosicor Pakistan led the list of actives, up by Re1 at Rs21.70 on 17m shares, followed by JS Bank, unchanged at Rs21 on 16m shares, Bank Alfalah, firm by 85 paisa at Rs55.20 on 8m shares and Dost Steels, higher by Rs1.40 at Rs29.75 on 7m shares.

Askari Bank, steady by 75 paisa at Rs102.50 also on 7m shares, Arif Habib Securities, off Rs1.40 at Rs178.80 on 6m shares and NIB Bank, steady 15 paisa at Rs22.40 also on 6m shares.

Other actives included Javed Omer and Co, lower 95 paisa on 6m shares, Pakistan Cement, up by 20 paisa on 5m shares and Netsol Technologies, off Rs3.45, on 4m shares, wiping out the overnight gain.

FORWARD COUNTER: Bank Alfalah led the list of actives on the cleared list and was quoted higher by 90 paisa at Rs55.50 on 3m shares followed by MCB, off Rs3.40 at Rs412.60 also on 3m shares and Askari Bank, firm by 35 paisa at Rs102.60 on 2m shares.

Lucky Cement followed them, lower by 45 paisa at Rs122.55 on 2m shares and Telecard, higher by 40 paisa at Rs10.80 also on 2m shares.

DEFAULTER COMPANIES: Pangrio Sugar, led the list of actives on this counter, up by 45 paisa at Rs18.90 on 0.616m shares followed by Zeal Pak Cement, easy five paisa at Rs4.60 on 0.425m shares and Norrie Textiles, unchanged at Rs1.90 on 0.228m shares.

Unity Modaraba was held unchanged at Rs1.90 on 0.166m shares and Japan Power, lower 15 paisa at Rs7.70 on 0.149m shares.

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Market at a glance

Dec 18,2007

TONE:easy,total listed 654,actives 382,inactives 272,plus 161,minus 183,unc 38

KSE 30-SHARE INDEX:previous 17,412.24,Tuesday’s 17,303.06,minus 109.18 points

KSE 100-SHARE INDEX:previous 14,544.22,Tuesday’s 14,508.29,minus 35.93 points

MARKET CAPITAL;previous Rs4,481.810bn,Tuesday’s 4,465.423bn,minus 16.387bn

TOP TEN:gainers JS & Co Rs44.80,Pak Resource Co 21.00,National Foods 20.15,Shell Gas 19.20,EFU Life 17.45.

LOSERS:Pakistan Engineering Rs14.75,Treet Corporation 12.00,KSB Pumps 11.65, JS Global 5.00, Mirpurkhas Sugar 5.00.

TOTAL VOLUME:167.129m shares

VOLUME LEADERS: Bosicor Pakistan 17.103m,JS Bank 15.984m,Bank AlFalah 7.979m,Dost Steels 6.439m,Askari Bank 6.413m shares.s