10,058
December 28, 2006
A relatively lacklustre day at the Karachi Stock Exchange with low volumes of 73.9 million shares traded. The market made a high of 10,087 and closed up at 10,058. Marginal improvements in cements with DGKC as the volume leader of the day and DGKC, Lucky Cement and Maple Leaf closing up.
News : State Bank of Pakistan on Wednesday suggested to policy makers that badla financing in share markets be completely “removed with better risk management tools”… The News
The income tax exemption, which the banks and insurance companies have been enjoying on capital gains, will expire on December 31, 2006, a leading tax expert said….Some leading tax experts have approached the Central Board of Revenue (CBR), seeking extension in capital gains exemption to banks and insurance companies… The News
Dubai Islamic Bank (DIB) has announced that it has arranged sale of ‘Sukuks’, or Islamic bonds, worth $85.3 million for two companies in Pakistan, namely, Karachi Shipyard and Engineering Works (KSEW), and Sui Southern Gas Company (SSGC)… Business Recorder
Despite the continuation of investor-friendly policies and a decent growth in corporate earnings, the local capital market remained slow in terms of attracting new listings compared with the previous year.The calendar year 2006 was a depressing year in terms of Initial Public Offerings (IPOs)…“There have been only five equity IPOs worth Rs 1.9 billion in 2006,”…. Daily Times
Market Low : 9,985.01 High: 10,087.36
Market Close : 10,058.47 — 27.01 points up.
