13,974

13,974On Friday, the KSE-100 index made a high of 14,059 and closed down at 13,974. Volumes were extremely low with only 73.5 million shares traded. Upside resistance is 14,070 and downside support is 13,800.

News : The cement sector exports witnessed a growth of 148 percent, to 3.596 million tons, during the July-January period of the current fiscal year against 1.450 million tons during the same period of last year in the wake of rising international demand, industry sources said on Friday…Cement exports during January 2008 also rose by 152 percent to 0.618 million tons as compared to January 2007… Aaj News

The Securities and Exchange Commission of Pakistan (SECP) has introduced two types of Real Estate Investment Trusts (REITS) schemes providing opportunity to the general public to pool funds for investment in the real estate sector…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…The SEPC has said that the REITs have been provided a tax exemption, if 90 percent of the income is being distributed. The REIT’s will initially be allowed in Islamabad/Rawalpindi, Karachi, Lahore, Peshawar or Quetta... Aaj News

Market Low :13,957.35 High : 14,059.10

Market Close : 13,974.40 – 42.60 points down

source: karachistockmarket.blogsome.com

Filed under Cement, Daily Market News, REITS



Leave a Comment

rss feed