12,908
June 9, 2008
The KSE-100 index got bashed down below 13k today on predominantly pre-budget jitters. Even oil’s enormous rise on Friday could not sustain the index in the green. Despite clarity on CGT being exempted till 2010, expect a rocky ride until all is revealed in the budget on 11th and thereafter digested.
News : Dalton Strategic Partnership (DSP) has become the first UK fund manager to offer focused retail access to Pakistan’s equities, with the launch of its ‘Melchior Selected Trust: Pakistan Opportunities Fund’. The fund, whose investment date was delayed to avoid a sharp correction in Karachi Stock Exchange in May, is slated for release on June 19. Portfolio management has been outsourced to Karachi-based KASB Funds,… KASB chief executive and chief investment officer Faisal Potrik will run a selection of 35-45 stocks–80 percent of which will be drawn from 30 largest companies listed on KSE…While he acknowledged inherent degree of political risk in the region, he insisted that underlying fundamentals, with growing consumer spending and a population of 160 million, would drive the country’s equity market for foreseeable future. He added: "What people don’t realise is Pakistan is pretty broad in the number of stocks it offers…Aaj News
Market Low : 12,867.27 High : 13,230.31
Market Close : 12,908.22 – 226.34 points down.
