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News-Prime Bank Stock Price Indexes
END October review
At the end of October 2003, it was noticed that The News-Prime Bank Composite Index of VIS was too pushed to bring down its point-level even further just like all other indices, being the bears on the front seat of the market.
On 31st October 2003, the index managed to sustain its position above the barrier of 5500 points, as it closed at 5529.3 points by losing 691.2 points, having decrease of 11.1% as compared to the last month's closing of 6220.4 points.
On the 1st Oct the index held 6302 points, which found to be the highest during the month under review, whereas the lowest recording of 5529 points was made on the 31st Oct 2003.
On as many as 11 out of 23 days, when trading commenced at the KSE, the index closed in the positive column whereas it lost value at the end of the remaining 12 days. The two vital ingredients of the Composite Index; Financials and Industrials, once again lost significant points and steered the Composite index in sliding drift. Financials index fell down to 3353.3 points by losing 757.3 points, which is about 18.4% of it's last month's closing of 4110.6 points.
Industrials Index, the other chief component of the Composite, fell down to 6530.2 points by losing 589.9 points or 8.3% in comparison to its preceding month's closing of 7120.1 points. Displaying the breadth of the declining trend, only 2 out of 36 sector indices of the News-Prime Bank Index Family closed positively whereas 34 lost value during the month under review.
Among the sector indices on the financials side, none of the sectors even managed to hold the same level but all sectors gave up points and achieved new lower levels. Modarabas fell down to 344 points by losing 79.2 points or decreased by 18.7% from its previous month's ending of 423.2 points. Mutual Funds fell down to 362.4 points by losing 92.5 points or decreased by 20.3% from its previous month's ending of 454.9 points.
Leasing Companies, Insurance, Banks & Investing Companies and Brokerage Firms also dropped down to 231.5, 483.9, 282.7 points and 317.5 points respectively. Leasing Companies lost 42.5 points having decrease of 15.5% as compared to its previous month's closing of 273.9 points. Insurance sector lost 122 points and had a decrease of 20.1% as compared to its preceding month's closing of 605.9 points, whereas, Banks and Investing Companies lost 27.3 points, which means decrease of 8.8% from its last month's closing of 310 points. Finally Brokerage Firms lost 228 points having decline of 41.8% from its previous month's closing of 545.4 points.
On the industrial side, only two sectors i.e. 'Pharmaceuticals' and 'Woollen' ended up positively if could not gain much, whereas, rest of the sectors ended up losing points. The index of 'Pharmaceuticals' sector topped the list and reached at 648.8 points with a nominal increase of 4.5 points or 0.7% from its preceding month's closing of 644.2 points. Besides this, the sector of 'Woollen' held runner up by securing the same level of 943 points as it did in the last month. The index of 'Petroleum & Oilfields' sector remained the most badly hit losing 28.8% during the month as it dipped to 835.4 points from 1172.7 points with the loss of 337.3 points. The runner up on the loser side is 'Energy' that fell down to 304.9 points with the loss of 61.7 points from its preceding month's closing of 366.6 points, which means it decreased by 16.8%.
Other Market-Indicators:
The KSE-100 of Karachi Stock Exchange has finally fallen below the fence of 3800 points. It closed at 3781 points and lost further 246.3 points, which was 6.1% of its last month's closing of 4027.3 points. Trading at the Lahore and Islamabad Stock Exchanges remained dominated by the bears. However, at the end of Oct, LSE-25 Index of Lahore closed at 2149.03 points having a decline of 281.93 points from 2430.96 points. Similarly, ISE-Network Index of Islamabad, which is also a price-based composite index developed by VIS, dropped to 7795.88 points in Oct by losing 1239.77 points from the last month's closing of 9035.65 points. There was a significant decrease in the average daily turnover at the KSE. On an average, 214 million shares changed hands on each of the 23 days of trading as against an average turnover of 424 million shares estimated for Sep 2003.
News-Prime Bank Indices
Major Index Closing as on Change over
Oct 31, 2003 Sep 30, 2003
Composite 5529.3 (-691.2) (-11.1%)
Financials 3353.3 (-757.3) (18.4%)
Industrials 6530.2 (-589.9) (-8.3%)
Base: 10,000 December 29, 1994
Top Percentage Gaining Sector Indices
Sector Index Closing as on Change over
Oct 31, 2003 Sep 30, 2003
Pharmaceuticals 648.8 4.5 (0.7%)
Base: 1,000 December 29, 1994
Top Percentage Losing Sector Indices
Sector Index Closing as on Change over
Oct 31, 2003 Sep 30, 2003
Brokerage Firms 317.5 (-228) (-41.8%)
Petroleum & Oilfields 835.4 (-337.3) (-28.8%)
Mutual Funds 362.4 (-92.5)(-20.3%)
Insurance 483.9 (-122)(-20.1%)
Modarabas 344 (-79.2)(-18.7%)
Base: 1,000 December 29, 1994