Stocks & Bonds-June 02, 2009

KSE loses 66 points.

KARACHI (June 02, 2009): Karachi share market opened on a positive note and the benchmark KSE-100 index hit 7,326.85 points intra-day high level, up by 50.24 points on Monday. However, the upward trend could not continue due to investors' lack of confidence and the index dropped into the negative zone to reach 7,195.38 points intra-day low level, down by 81.23 points.

LSE index loses 15.28 points.

LAHORE (June 02, 2009): The Lahore stocks remained under the grip of depressed sentiments on Monday on account of rumours about the imposition of more taxes on stocks trading that also kept the investors away from the buying course resulting in low trading activity. The LSE-25 index lost 15.28 points and ended at 2145.32 against 2160.60 of the last Friday while transaction volume also restricted to 11.932 million shares as compared to previous volume of 16.872 million shares.

BRIndex30 drops 106.60 points.

KARACHI (June 02, 2009): On Monday, the BRIndex30 opened in the positive zone, at 6,821.09, but soon dropped into negative zone and, after fluctuating up and down for the first two hours, it went into negative zone and remained there for whole of the trading time, ultimately closing at 6,707.00 points with a net negative change of -106.60 points and percentage change of -1.56.

Protection of rights: association of KSE members formed. KARACHI (June 02, 2009): The Association of Karachi Stock Exchange Members has been formed in a special meeting of KSE members to protect members' rights. An extraordinary meeting of KSE members was held here on Monday in which they also formed a five-member committee to pursue for the launching of alternative leverage product after CFS Mk-II, which has been discontinued from April 8, 2009.

'SECP taking lenient view of defaults not covered under CRS'.

ISLAMABAD (June 02, 2009): The Companies Regularisation Scheme (CRS) of the Securities and Exchange Commission of Pakistan (SECP) is not applicable to companies which have filed their overdue returns before May 15, 2009, the scheme's launch effective date. The amnesty scheme has been launched for a period of 45 days starting from May 15, 2009 up to June 30, 2009.