14,772
December 27, 2007
The KSE-100 index dipped down to 14,668 and then recovered to close at 14,772. Benazir Bhutto was killed earlier today at 18.20 pm in a rally in Pindi. This will certainly make the market plummet when it opens on Monday.
News : After the government’s permission to redeem 10 percent of NIT units held by Faysal Bank, the likelihood has significantly increased that the other LOC holders (NBP and BOP) of the NIT units will also be offered to opt for the the same…Mohammad Imran Khan, research head at First Capital Equities Limited said in his report, “the major purpose of the redemption option is to facilitate these banks in taking tax advantage ahead of a year with capital gain tax.” In the budget 2007-08, the government has announced levy of capital gain tax that will be applicable from the year 2008…Mohammad Imran Khan, research head at First Capital Equities Limited said in his report, “the major purpose of the redemption option is to facilitate these banks in taking tax advantage ahead of a year with capital gain tax.” In the budget 2007-08, the government has announced levy of capital gain tax that will be applicable from the year 2008. The analyst said the possible implications for National Bank of Pakistan (NBP) and Bank of Punjab (BOP) if both the banks are also allowed to redeem 10 percent NIT units from their holdings will be an expected capital gain of Rs 1.8 billion and Rs 764 million to NBP and BOP on the holdings of respective 372.5 million and 159 million units of NIT… Daily Times
Askari Bank has sold 16.257 million shares of Allied Bank, it said in a communication sent to the Karachi Stock Exchange. It said that it expects to have realized gains of Rs 1.731 billion through the sale. An analyst said it was thought at one time that Askari Bank would never like to sell its shareholding of Allied Bank, because it retained despite offers by one of the major shareholders of Allied Bank. “However, they now have decided to realize gains on this holding in order to avail the exemption of capital gains tax that they have till December 31, 2007,” he said… Daily Times
Market Low :14,668.40 High : 14,874.22
Market Close : 14,14,772 — 42.77 points down
