The share values in Karachi stock market tumbled on Thursday trading after renewed war threat by Indian army chief General Deepak Kapoor who said ‘New Delhi was keeping its “options open” over the Mumbai attacks’. Resultantly, bourse shed further 4.5 per cent capital as investors and brokers panicked and they remained busy in selling their holdings. Currently, the launching of the government’s much-awaited marketing supporting fund is failed to give the require results in country’s stock markets. The Karachi Stock Exchange’s benchmark KSE-100 index lost 272.58 points to close at 5,778.58. Volume remained at 122.11 million shares. With this flaking, the bourse at the end of the session could not retain the limit of psychological barrier of 6,000 points. According to the news, India’s army chief said that while he regarded the war as a “last resort”, the current situation meant that “we in India are keeping all our options open and that must be clearly understood.” While government of Pa...

The shares remained flat and stable on Wednesday trading of Karachi stock market even after launching of the government’s much-awaited market supporting fund losing further 0.13 per cent capital. The Karachi Stock Exchange’s benchmark KSE-100 index while at the end of the session losing 7.99 points close at 6051.10 remained within the limit of psychological barrier of 6,000 points. However, this psychological barrier could breach any time. Volume remained at 160.620m shares.

By Khalid Qayum Jan. 13 (Bloomberg) -- National Investment Trust, Pakistan’s biggest money manager, bought stocks for the first time from a 20 billion rupee ($250 million) fund announced this month to stabilize the market after a 58 percent slump last year. “We bought shares for the first time today and will continue to buy at good rates and values,” Tariq Iqbal Khan, chairman of the state-owned National Investment, said in a telephone interview from Karachi today. Pakistan shares fell for 13 consecutive sessions starting Dec. 15 when the stock exchange ended a trading curb that had prevented the benchmark index from falling below its Aug. 27 level of 9,144.93 points. The drop in the benchmark index last year was the first annual decline in seven years. Pakistan’s benchmark Karachi 100 Index rose 0.3 percent to 6059.09 at the 3:30 p.m. local-time close. The gauge fell 1.7 percent yesterday after a 6.8 percent increase in the previous four sessions after National Investment said it woul...

The first of the week Monday proved to be disappointed for Karachi Stock Exchnage when bourse witnessed landed in the negative column after gaining in four straight trading sessions and shed 1.66 per cent apparently due to delay in launcing the bailout package but in fact on account of profit-taking. The Karachi Stock Exchange’s benchmark KSE-100 index while on losing 102.37 points close at 6041.44 remained within the limit of physiological barrier of 6,000 points. Though the market landed in the minus column but it investors never lose their confidence and are still optimistic. The bourse opened with a negative note and its both session remained negative while at mid-session the index had lost over 230 points before rebounding to 123 points at the closing session. The market opened for the year having lost 37 per cent of its value in just two weeks. On December 15, regulators had removed a “floor” imposed in August to stop heavy losses on the KSE-100. Last week, the exchange rebounded...

KARACHI: Securities and Exchange Commission (SECP) Chairman, Raziur Rahman has said that he instead of personal interest working for the national interests turned SECP more effective during his tenure of office. Raziur Rahman talking to Geo News said that the Commission was not only made pro-active, but several reforms were also introduced in the capital markets during his tenure. He said he had submitted his resignation to the government several months ago and completed his three-year term, as the government wished. Finance Advisor, Shaukat Tareen has proposed making SECP Commissioner, Salman Sheikh as acting chairman in place of Raziur Rahman, who is stepping down today on completion of his term. It is expected that Salman Sheikh would take over the charge as Acting Chairman any time today.

ISLAMABAD: The declining trend in the Securities Market and the consequent reduction in the value of the shares of listed companies provides an opportunity to them to buy-back their own shares. Therefore, on an initiative and proposal of the Securities and Exchange Commission of Pakistan (SECP), section 95A of the Companies Ordinance, 1984 has been amended vide Companies (Amendment) Ordinance, 2009 to enable the listed companies to buy-back their own shares and hold them as treasury shares. Previously the Companies Ordinance permitted the listed companies to buy-back their own shares, however, the purchased shares had to be cancelled forthwith resulting in the reduction of the paid-up capital of the company. After the latest amendment, the listed companies can buy-back their own shares and hold them as treasury shares, which can then be re-issued/resold in the manner to be prescribed by the SECP in the regulations. According to the amended section 95A, the decision to buy-back the shar...

Bulls outpaced bears at the Karachi stock market during the week as investments by institutions and retail investors helped the market recover while the volume touched a four-month high level, analysts said on Saturday. Falling political condition with Ajmal Kasab identified as a Pakistani national and the dismissal of the National Security adviser by the PM failed to dent the confidence of investors. The Karachi Stock Exchange (KSE) 100-share index gained 350.24 points to close at 6,143.81 points as compared to 5,793.57 points of the previous week. Analyst at Atlas Capital Market said volumes at the KSE gained momentum, demonstrating increased investor interest in the market at current levels. On the positive side the data released by SBP showed a decline of Rs 98 billion under the head of borrowing for budgetary support to Rs 313 billion on December 20 thus making the goal of zero net borrowing by IMF more achievable. The ease off witnessed in the inflationary pressure depicted by a ...