STOCK EXCHANGE UPDATE: 06.04.2012

Stock

Karachi Stocks Up 47.25 Points:
KARACHI, Apr 06: The KSE-100 index was at 13878.72, up 47.25 points. (today  12.00 pm)

April 5, 2012

5 TOP GAINERS  &  LOOSERS

Nestle Pak	Rs 86.25	Indus Motor Co.	Rs (12.00)
Rafhan Maize	Rs 58.64	Sanofi-Aventis	Rs (7.60)
Philip Morris	Rs 6.00	Bata Pakistan	Rs (7.30)
Lucky Cement	Rs 5.36	Shezan Int	Rs (4.63)
Millat Tractors	Rs 4.15	Mari Gas Co.	Rs (4.36)

Stocks weighed down by banks, rupee weakens
ISLAMABAD: Pakistan stocks closed lower on Thursday, weighed down by banking shares hit by rumours of a rise in the tax covering their sector.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended down 0.82 per cent, or 113.83 points, at 13831.47 points, capping a recent rally which pushed the market to a four-year high on Wednesday.
One of the biggest casualties was the National Bank of Pakistan (NBP), whose shares fell 5 per cent to 46.93 Pakistani rupees.
“There was talk today that the banking sector’s tax rate may be increased from 35 per cent to 40 per cent, so banking stocks, especially NBP, were hit,” said Atif Zafar, an analyst at the JS Global financial services company.
Trading volume rose to 457.9 million shares, compared with 409.3 million shares traded on Wednesday.
The Pakistan rupee ended slightly weaker at 90.54/64 to the dollar, compared with Wednesday’s close of 90.30/35.
Overnight rates in the money market stayed flat at 9.10 per cent, after falling to that level on Wednesday from Tuesday’s close of 9.75 per cent because of sustained liquidity.
Profit-taking drags KSE down
KARACHI - Stocks closed lower amid institutional profit taking in blue chip stocks ahead of major earning announcements due next week. At Karachi stock market benchmark KSE-100 share index shed by 113.83 points or 0.82 percent to finish the day at 13,831.47 points as compared to the 13,945.30 points
KSE, STAP sign MoU for tech analysis promotion

KARACHI - Karachi Stock Exchange (KSE) and Society of Technical Analysts of Pakistan (STAP) entered into a Memorandum of Understanding (MoU) to promote technical analysis to understand emotions in the market, here on Thursday. The MoU signing ceremony took place at KSE Auditorium, where MD KSE

MOHAMMED SALEEM MANSOORI