March 12, 2008	Wednesday	Rabi-ul-Awwal 3, 1429

KARACHI, March 11: Stocks showed a mixed trend on Tuesday as investors played on both sides of the fence after reports of bomb blasts in Lahore triggered fresh selling from the weak holders and jobbers. The broader market, however, stayed weak, although some blue chips came in for active short-covering and ended recovered.

But on the other hand the KSE 100-share index managed to finish modestly higher after initial fall caused by the Lahore bomb blasts, which killed about two dozen persons and injured 200.

The final finish was at 14,912.78, up 31 points owing to active short-covering in the leading base shares, notably MCB Bank, Bank Alfalah, the OGDC, Pakistan Oilfields and Lucky Cement.The fresh profit-selling was partly attributed to bomb blasts and partly to unclear picture on the political front as investors awaits the calling of assembly session and formation of governments in the centre and the provinces.

“The political uncertainty will continue to have its toll until the new set-ups are in place,” said an analyst adding “that will end the reported intrigues to create division between the major winners”.

But some others said the fear of standoff between the presidency and the new parliament on certain issues, notably restoration of the sacked judges, could work against the market sentiment.

“The market may continue to give highly erratic price movements as investors are not inclined to invest in a big way until the political scenario is clear of any feared mess,” said another analyst.

However, the general perception is that the current dust raised by some vested interests will settle down during the next couple of weeks and the market could resume its normal course of action guided by the positive news from the corporate front.

Leading gainers were led by JS & Co and HinoPak, up Rs31.45 and 25.10 followed by Pakistan Oilfields, Shell Gas, Murree Brewery, East-West Insurance, Fazal Textiles, Attock Petroleum, EFU General, JS Global, and Colgate Pakistan, up by Rs7.15 to Rs14.

But losses on the other hand were modest barring Dawood Lawrence and Abbott Lab, off by Rs6.95 and Rs6.50, respectively. Other prominent losers included National Refinery, Shield Corporation, Adamjee Insurance, and Arif Habib Ltd, lower by Rs5.05 to Rs5.90.

Trading volume increased to 191m shares from the previous 186m shares as the losers held fair lead over the gainers at 188 to 129, with 45 shares holding on to the last levels.

Bank Alfalah came in for strong support followed by positive reports about its interim earnings and was marked up by Rs2.35 at Rs64.25 on 24m shares followed by the OGDC, firm by 60 paisa at Rs135 on 14m shares, Lucky Cement, steady by 40 paisa at Rs134.40 on 12m shares, Pakistan Oilfields, higher by Rs7.15 at Rs363 on 11m shares, MCB Bank, up Rs4.50 at Rs394.50 on 10m shares, Arif Habib Securities, easy 10 paisa at Rs175.90 on 5m shares and D.G. Khan Cement, steady by 15 paisa at Rs106.20 on 7m shares.

Other actives were led by Azgard Nine, higher by Rs2.90 at Rs61.70 on 13m shares, Nishat Mills, firm by 85 paisa at Rs113.85 on 5m shares and TRG Pakistan, lower by 30 paisa at Rs11.60 on 4m shares.

FORWARD COUNTER: Bank Alfalah, also led the list of actives, higher by Rs2 at Rs51.80 on 15m shares, followed by MCB Bank, up by Rs3.60 at Rs393 on 9m shares and D.G. Khan Cement, easy by five paisa at Rs106.75 on 4m shares.

The OGDC followed them, up by 70 paisa at Rs135.90 on 4m shares and Pakistan Oilfields, higher by Rs7.30 at Rs365.40.

DEFAULTER COS:Zeal-Pak Cement came in for modest support at the overnight level of Rs4 on 0.548m shares followed by Norrie Textiles, steady by five paisa at Rs1.70 on 0.424m shares and Invest Capital Bank, higher by 25 paisa at Rs6.60 on 0.379m shares.

Unity Modaraba, followed them, unchanged at Rs1.20 on 0.131m shares and Japan Power, up 25 paisa at Rs6.75 on 0.126m shares.

DIVIDEND: Azgard Nine, cash 12.5 per cent, Pakistan General Insurance, and Shaheen Insurance, nil.

March 11, 2008

Market at a glance

TONE:mixed,total listed 652,actives 373,inactives 279,plus 139,minus 188,unc 46

KSE 30-SHARE INDEX:previous 18,296.96,Tuesday’s 18,384.60,plus 87.64 points

KES 100-SHARE INDEX:previous 14,912.78,Tuesday’s 14,943.78,plus 31.00 points

MARKET CAPITAL;previous Rs.4,605.909bn,Tuesday’s 4,608.921bn,plus 3.012bn

TOP TEN:JS & Co Rs.31.45,HinoPak 25.10,Colgate Pakistan 14.00,EFU General 11.25,Sapphire Fibres 11.00.

LOSERS:Dawood Lawrence Rs.6.95,Abbott Lab 6.50,Adamjee Insurance 5.90,Shield Corporation 5.75,Arif Habib Ltd 5.05.

TOTAL VOLUME:190.572m shares

VOLUME LEADERS: Bank AlFalah 23.559m,OGDC 13.630m,Azgard Nine 12.510m,Lucky Cement 11.530m,Pakistan Oilfields 10.826m shares.