5,750
March 13, 2009
The week ended on a positive note after the Karachi Stock market made a low of 5,557 and closed up at 5,750 today. The market has been firm in the last two days recovering the slide during the week despite all the political crap that has been taking place. Indications of an interest rate cut taking place soon, has been the driving force for the market.
News : The Securities and Exchange Commission of Pakistan (SECP) has granted permission to two REIT Management Companies (RMC) in Pakistan…. SECP had received four applications for formation of RMCs out of which two companies ie Arif Habib REIT Management Company Limited and AKD REIT Management Company Limited have been granted permission…REITs in Pakistan are introduced in the form of a trust where the property itself will be vested in the name of the trustee and REIT Management Company (RMC) will look after the Real Estate on behalf of the unit holders. RMC will have a minimum of 20 per cent stake in the scheme and will receive a management fee for provision of their services. People will be allowed to invest through units of the REIT Scheme which will be listed on stock exchange… Aaj News
Arif Habib Investment Management Limited (AHIML) has entered a licensing agreement with Dow Jones for the ‘Dow Jones SAFE Pakistan Index’ to underline AHIML’s proposed fund namely "AH Dow Jones - SAFE Pakistan Index Fund," an open-end Index Tracker Fund. The Dow Jones SAFE Pakistan Index measures the performance of Pakistan traded securities and is a sub index of the "Dow Jones SAFE 100 Index". Dow Jones Indexes and the South Asian Federation of Exchanges (SAFE) have entered a joint marketing agreement pursuant to which Dow Jones Indexes acts as the exclusive licensor of the Dow Jones SAFE Indexes. The launch of Dow Jones SAFE 100 Index was held in Abu Dhabi on March 11, 2009… the Dow Jones SAFE 100 Index includes 50 Indian, 39 Pakistani, 3 Bangladeshi, 5 Mauritanian and 3 Sri Lankan companies… Aaj News
Market Low : 5,696.41 High : 5,763.70
Market Close : 5,750.47 – 43.38 points up
