KARACHI (September 09, 2010): The KSE-100 index on Wednesday increased by 142.99 points and closed at 9,891.13 points on the back of continuous foreign investors' interest and institutional support. Although the market witnessed some pressure after positive opening the index dropped into negative zone to hit 9,720.16 points intra-day low level, down 27.98 points.

LAHORE (September 09, 2010): Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Wednesday and the equities registered gains across the board amid ascending transaction volume on account investors' interest in blue chips. The LSE-25 index was moved up from 3081.39 of Tuesday to 3123.79, denoting an increase of 42.40 points, while trading turnover was increased to 2.735 million shares, as compared to last day volume of 1.074 million shares.

ISLAMABAD (September 09, 2010): Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 32.59 points, as the Index moved from 2,527.85 to 2,560.44 points. The overall turnover amounted to 149,967 shares, as compared to previous volume of 71,750 shares.

KARACHI (September 09, 2010): On Wednesday, the BRIndex30 opened at 7,489.56 points and remained in positive with rising trend for most of the trading session, except for the first few minutes after opening when it took a steep dive. It touched the intra-day high of 7,592.95 points and low of 7,431.92 points and closed at 7,583.12 points with a net positive change of 93.56 points, or 1.25 percent.

KARACHI (September 09, 2010): Pakistan capital market is passing through the worst situation as no initial public offering (IPO) has been witnessed during the last five months since April 2010 at the local market. Analysts believe that bad experiences by shareholders in last few offerings, record low volumes and weak economic fundamentals caused issuers to delay their offerings.

LAHORE (September 09, 2010): The Lahore Stock Exchange (LSE) will remain closed from Friday, September 10, 2010 to Monday, September 13, 2010 on account of Eid ul Fitr. According to a circular, the Exchange will reopen on Tuesday, September 14, 2010. The LSE Trading and office timings will revert to pre-Ramazan schedule after the Eid holidays.

ISLAMABAD (September 09, 2010): The Securities and Exchange Commission of Pakistan (SECP) has reviewed and amended the Companies (Issue of Capital) Rules, 1996. The amendments are being notified in the official gazette to solicit public opinion as required under sub-section (1) of Section 506 of the Companies Ordinance, 1984 (the Ordinance).

ISLAMABAD (September 09, 2010): Tahir Mahmood on Wednesday assumed charge as Commissioner at the Securities and Exchange Commission of Pakistan (SECP). He will look after the Company Law Division and Information Technology Department. Since July 1, 2006, he had been working as Executive Director (Enforcement) at SECP head office in Islamabad.

KARACHI (September 09, 2010): In an Extraordinary General Meeting (EOGM) of Pakistan Strategic Allocation Fund (PSAF), a closed-end fund of Arif Habib Investments Limited (AHI), held on September 8, 2010, the Certificate Holders approved conversion of the Fund into an Open End fund, subject to approval of the Securities and Exchange Commission of Pakistan (SECP) and fulfilment of all legal and regulatory formalities.

KARACHI (September 09, 2010): MCB Asset Management and Arif Habib Investments would be merged subject to all regulatory approvals and compliance. A Memorandum of Understanding (MoU) was signed in this regard by MCB Bank and Arif Habib Securities recently. The joint entity is expected to become the largest private sector asset management company.