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Rise and fall of various indices
NOVEMBER Review
Market remained mixed during most trading days of November 2002. Volumes remained low on account of shortened trading hours due to the holy month of Ramazan. The News-Prime Bank Composite Index of VIS reached 4,159.4 points declining by 13 points or a minor 0.3 per cent over its end-October close of 4171.9 points.
During November, the index went as high as 4203.0 points which was on the 26th whereas the lowest recording of 4115.8 points was made on the 11th of the month.
On 8 out of 20 days of trading at the KSE, the index lost value whereas it gained at the end of the remaining 12 days.
The two major components of the Composite Index, Financials and Industrials demonstrated different trading moods as the financials closed on a higher note whereas the industrials remained unchanged during the said month.
Financials index closed at 2401.6 points with an increase of 19.9 points or 0.8 per cent over its end-October's close of 2381.7 points. Industrial Index, the other major component of the Composite, stood at 5010.4 points as against 5010.8 points of end-October.
Out of 36 sector indices of the News-Prime Bank Index Family, 18 posted gains during November 2002 whereas only 16 lost value with 2 indexes showing no change over the month.
All the sector indices on the financials side closed positively except for that of Mutual Funds sector that lost about 2 per cent closing at 245.3 points. Out of the winners, the index of Banks and Investment Cos. Topped the list with a gain of 2.8 per cent over the month and closed at 192.3 points.
On the industrial side, the index of 'Petroleum & Oilfields' sector topped the list and reached 813.9 points with an increase of 7.4 per cent. During the month, index of 'Glass & Ceramics' sector remained the most badly hit losing 5.2 per cent during the month ending up at 367.7 points. Indexes of Sugar and Engineering/Metals sectors remained unchanged during the month.
Other Market-Indicators:
The KSE-100, which is a market capitalization based index of Karachi Stock Exchange, registered record a very nominal gain during November. During the month, KSE-100 index also broke the psychological barrier of 2,350 points as was anticipated by the market players. However, it closed at 2285.9 points with an increase of 7.3 points or 0.3 per cent over its October's closing of 2278.5 points.
Sentiments at the Lahore and Islamabad Stock Exchanges overall remained negative. At the end of November, LSE-101 of Lahore closed at 369.0 points with a decline of 3.0 points or 0.8 per cent over its end-October closing of 372.0 points. Similarly, ISE-Network Index of Islamabad, which is also a price-based composite index developed by VIS, dipped by 82.8 points or 1.5 per cent and closed at 5283.8 points.
The average daily turnover at the KSE inched up slightly during the month. On an average, 196.75 million shares changed hands on each of the 20 days of trading in November as against an average turnover of 195.0 million shares estimated for 22 trading days in October 2002.
News-Prime Bank Indexes
Major Indexes
Major Index Closing as on Change over
November 29, 2002 November 29, 2002
Composite 4159.4 -12.5 (0.3%)
Financials 2401.6 19.9 (0.8%)
Industrials 5010.4 -0.4 (0.0%)
Base: 10,000 December 29, 1994
Top Percentage Gaining Sector Indexes
Sector Index Closing as on Change over
November 29, 2002 November 29, 2002
Petroleum & Oilfields 813.9 56.4 (7.4%)
Toiletries 1785.9 122.7 (7.4%)
Automotive Assembler 856.5 49.3 (6.9%)
Energy 250.5 10.9 (4.5%)
Pharmaceuticals 468.4 20.3 (4.5%)
Base: 1,000 December 29, 1994
Top Percentage Losing Sectors Indexes
Sector Index Closing as on Change over
November 29, 2002 November 29, 2002
Glass & Ceramics 367.7 -20.1 (-5.2%)
Polyester Yarn & Fabrics 383.8 -19.9 (-4.9%)
Paper & Board 496.3 -20.6 (-4.0%)
Cement & Building Products 93.0 -3.8 (-4.0%)
Leather & Tanneries 469.7 -16.8 (-3.5%)
Base: 1,000 December 29, 1994