The Karachi stock market closed in the negative zone as investors fretted over continued implementation of capital gains tax (CGT) on certain investments and offloaded their holdings. The Karachi Stock Exchange (KSE) 100-share index declined 20.79 points or 0.17 percent to close at 12,317.15 points as compared to 12,337.94 points of the previous session. The KSE 30-share index also lost 28.93 points to close at 11,778.40 points as compared with 11,807.33 points. Analysts said other reasons for the downtrend included, fall in global capital markets and declining value of oil in the international market. Investors preferred to stay to the sidelines owing to lack of positive triggers. The market turnover went slightly up by 1.16 percent to 54.80 million shares after opening at 54.17 million shares. The overall market capitalisation fell 0.15 percent to Rs 3.256 trillion as against Rs 3.261 trillion. Losers outnumbered gainers 154 to 97, while 104 stocks were unchanged. "Amid global s...

KARACHI: Arif Habib Investments (AHI) has declared the dividend for two of its open-end fixed income funds for the month of February 2009. Pakistan Income Enhancement Fund (PIEF) has declared a dividend of Rs 1.48 per unit to all unit holders whose name appeared in the register of unit holders on February 25, 2009. The current payout translates to a dividend distribution of 2.96 percent on face value. The year-to-date annualised return of PIEF is 17.63 percent as compared to the industry average of 2.93 percent. The Fund has declared an annualised distribution of 16.40 percent of the par value since inception.