14,018
February 6, 2008
The KSE-100 Index opened up, made an intra-day high of 14,052 and closed up at 14,018. NETSOL was the flavour of the day with 10.8 million shares traded. Yet another day of low volumes and the inability to close above 14,050.
Board Meetings for February 2008 - updated.
PSO was due to announce its results today, but the board meeting has been postponed to the 14th.
News : World oil prices declined on Wednesday after the US government reported another rise in crude oil inventories amid mounting concern about America’s economic growth…Prices slumped after the US Department of Energy said American crude oil inventories had jumped by 7.0 million barrels in the week ending February 1, marking a fourth straight rise in crude stocks.The increase was much higher than analysts’ consensus forecast which had predicted a gain of just 2.2 million barrels... Aaj News
Pakistan, which issued rules for real estate investment trusts today, aims to attract as much as 20 billion rupees ($320 million) in 12 months by drawing investors to a property market where prices have tripled in three years…The government said in the budget last June that owners will get a tax holiday till 2010 on the sale of property to a real estate investment trust. The REITS will be regulated by the Securities & Exchange Commission of Pakistan….Real estate trusts pool funds to buy properties and distribute rental income among investors. Pakistan’s REITs will be required to distribute 90 percent of profits… Source : Bloomberg
Federal Finance Minister Dr Salman Shah has said that global depository receipts (GDRs) of National Bank, Habib Bank and Kapco and ‘plus’ Euro Bonds will be issued in March-April this year to reduce the fiscal deficit… Aaj News
Upper Cap : WorldCall Telecom
Market Low : 13,991.88 High : 14,052.09
Market Close : 14,018.45 –26.57 points up
