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Federal Investigation Agency (FIA) on Wednesday arrested at least three persons for printing and selling out fake share certificates worth millions of rupees in the stock market. According to sources the FIA recovered fake share certificates (both filled and blank) worth over Rs 37 million from the custody of Niaz Ahmed Rind, Shehzad and Rehan from Pakistan Chawk in a raid led by Inspector Gulsher Mugheri.They said a special team of FIA's Crimes Circle at around 4 pm raided an office, "Shah Graphics", and a printing press, "Rehan Prints", and recovered fake share certificates worth Rs 24 million and Rs 13 million which were ready to be issued to Norrie Textile Mills Limited (NTML) and SS Oil Mills Limited (SSOML) respectively. The sources said the FIA team on the directives of Director Crimes Circle Mir Zubair and Deputy Director Khalique-uz-Zaman arrested Rind, a share dealer, and recovered fake share certificates of Rs 13 million from his possession.The law e...

The Karachi stock market remained motionless on Wednesday as falling international markets on global crises and tight monetary policy were the source of continuing foreign disinterest in the local market, analysts said.The Karachi Stock Exchange (KSE) 100-share index remained unchanged for the third consecutive trading session by closing at 9,184.09 points. The KSE 30 index and KMI 30 index also remained at 9,981.93 points and 10,003.99 points respectively. The market turnover gained 4.21 percent and traded 0.182 million shares as compared to 0.19 million shares traded in the previous session. The overall market capitalisation remained unchanged at Rs 2.826 trillion. Out of 13 companies, four closed in the positive zone, four in negative while five remained unchanged. Analysts at Aziz Fida Hussein and Company said while the preparations were underway to register a louder protest as reported by the media against the extended and unjustified freezing, the unconfirmed news was the chance...