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Profit taking eroded morning gains in leading scrips at Karachi Stock Exchange (KSE) but 100-index surged by 68.94 points to close at 6143.81 on fourth consecutive day while the investors were irritated over waiting for the launch of government market supporting fund. The Karachi Stock Exchange’s benchmark KSE-100 index while on gaining spree close at 6143.81 crossing the physiological barrier of 6,000 points. Though the market landed in the positive column but it seems that optimistic signs are taking the turn again to pessimistic sentiments. The optimistic signs are obvious when bourse opened with a positive note and its both session remained positive while at mid-session the index had gained over 169 points before dropping back to 69 points at the closing session. Volume was remained in downward trend of 145.449 million as compared to 165.193 million on last working day Tuesday, far below the average 250 million shares that was the daily routine when bourse was considered to be a be

ISLAMABAD: The National Assembly (NA) Standing Committee on Finance on Friday deferred the approval of the Stock Exchange Bill, 2008 (Corporatisation, De-mutualisation and Integration), presented by the Finance Ministry and the stock market regulator. The committee has now decided to invite the chairmen of Karachi, Lahore and Islamabad stock exchanges and the chairman of the association of small investors in the next meeting. The committee is looking to the input of these key stakeholders before it clears the bill for its formal approval by the NA. The NA finance committee was meeting in the Parliament House with Fauzia Wahab in the chair. The finance secretary and the Security and Exchange Commission of Pakistan chairman were also present. Finance Secretary Waqar Khan informed the committee members that the bill had been approved twice earlier, both by the previous government and the caretaker government. He said it had been discussed in detail and requested the committee to approve i

KARACHI: Kamran Y Mirza has been re-elected chairman of Karachi Stock Exchange (KSE) for the second term. According to KSE sources, he was elected at the first meeting of the KSE board of directors held here on Friday. Earlier, five elected directors from 200 members of the exchange and four non-member directors, nominated by the Securities and Exchange Commission of Pakistan (SECP), assumed their offices on Friday and elected the new chairman in the meeting. It may be noted that KSE is run by a board of directors, consisting of 10 members including the managing director. The nominated directors are appointed by the SECP from the professionals belonging to various trades and professions. The chairman is elected by the board from the non-member directors. Followings are the names of KSE directors: Adnan Afridi Managing Director, Kamran Y Mirza Director, Osman Asghar Khan Director, Khalid Ahmed Sherwani Director, Dr Farid, Munir M Ladha Director, Muhammad Yasin Lakhani Director, Zafar S