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Bloomberg Report Pakistan’s biggest exchange may triple the current 5 percent limit that a stock can decline each day and introduce so-called circuit breakers that limit how much the entire market can fall, Adnan Afridi, managing director, said in an interview in Karachi. “Our circuit breakers are a bit narrow by international standards,” Afridi said late yesterday. “We are looking at a combination of having wider circuit breakers, maybe 10 or 15 percent, and then having market halts, of say, 3 to 5 percent.” Pakistan is seeking to boost investment in shares after its benchmark index declined 58 percent in 2008, the most in 18 years, because of political instability and an economic slowdown. Freeing up trading limits would attract more investors, said Tariq Iqbal Khan, chairman of Pakistan’s biggest money manager. “If a stock has to fall 15 percent, it will either fall in one day or three days, the stocks have to come down to natural price,” said Khan, who manages the equivalent of $94

KARACHI: Expectations of strong result announcements by banks and oil stocks kept the bullish rally alive at the Karachi stock market on Wednesday. Analysts said another factor for the positive momentum was investors’ positive sentiment in the wake of continuation of NIT State Enterprise Fund’s support to the market. The Karachi Stock Exchange (KSE) 100-share index gained 40.51 points or 0.69 percent to close at 5,880.14 points as compared to 5,839.63 points traded in the previous session. The KSE 30 index also gained 58.66 points and closed at 6,084.95 points as compared with 6,026.29 points of the previous session. The KMI 30 index gained 3.11 points to close at 7,866.65 points as against 7,863.54 points of the previous session. Analysts said an extremely range-bound session was witnessed at the market offering limited trading opportunity to day traders. Selected stocks continued to invite buying interest disallowing an extended adjustment. The market turnover went down by 7.76 perce

DOHA: Pakistan State Oil (PSO) ranked 29th among the list of top 100 companies of the Muslim World released here. US Consultancy, Dinar Standard in their 5th Annual Ranking released the list of 100 top companies of 57 member countries of the Organization of Islamic Conference (OIC), which depicted Turkey's 23 companies among the list bagging most, while the largest oil company of the world Aramco topped the list. PSO ranked 29th whose revenue as compared previous year was seen surged by 41 percent. Previous year PSO was ranked at 31st and Sui Northern Gas at 99th.