12,126
July 3, 2008
Another day of piteous low volumes with the KSE-100 index trading only 11.9 million shares. The market has closed down for the fourth consecutive session and has lost 326 points since Thursday. The only solace here is that prior to the new measures with a 1% downside , the current four session loss would have been incurred in one. The erosion has been slowed down and bearing in mind that as the other world and regional markets are getting fucked badly at the moment, the oil price rearing its ugly head at $144 today and the dollar sliding daily, 1% down a day is not so bad ! If this carries on 12k will break by the end of the week. A Govt. that cannot calculate properly (CNG price issue), let alone decide on anything, doesn’t help matters either !
News : The Securities and Exchange Commission of Pakistan (SECP) has taken major steps to promote the implementation of international practices in Real Estate Investment Trust (REIT) valuation. Launching the REIT product in February 2008, the lack of transparency is a major bottleneck in the real estate sector in Pakistan. The SECP has built a strong REIT implementation team, which is multi-disciplinary and includes a civil engineer and a real estate broker. To study REIT licensing and evaluation, SECP selected Malaysia as a relevant jurisdiction. Five officers of the Commission were sent on a study tour to Malaysia to understand the problems and issues faced by the Securities Commission Malaysia in the monitoring and regulation of Malaysian REITs…. Daily Times
Market Low : 12,123.69 High : 12,221.53
Market Close : 12,126.10 — 95.43 points down
