LSE downs by 31.85 points

LAHORE: Bearish trend prevailed in Lahore Stock Exchange on Monday as it shed 31.85 points. The LSE-25 index opened with 4619.20 and closed at 4587.35 points.

The market’s overall situation also did not correspond to an upward trend as it remained at 5.181 million shares to close against previous turnover of 6.258 million shares, showing a downward slide  of 1.076 million shares. While, out of the total 91 active scrips 33 moved up, 45 remained equal and 13 shed values.

Engro Foods Limited, Glaxo Smith Kline Pakistan and Netsol  Technologies Limited were major gainers of the day by recording increase in their per share value by Rs 5.19, Rs 4.98 and Rs 2.10 respectively.

Mari Petroleum Company, Pakistan State Oil Company Limited and Fauji Fertilizer Company Limited lost their per share value by Rs 8.98, Rs 1.50 and Re 0.90 respectively.

The Volume Leader of the day included Pakistan International Airline Corporation with 959,000 shares, Fauji Cement Company Limited with 811,500 shares and The Bank of Punjab Limited with 640,000 shares.

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LSE to hold corporate briefing programme for OGDCL on 12th

LAHORE: Lahore Stock Exchange (LSE) Limited is scheduled to hold Corporate Briefing Programme (CBP) for Oil and Gas Development Company Ltd (OGDCL) on September 12 at the LSE Auditorium.

The representatives of OGDCL will inform investors about company’s financial statements and short term as well as long term projects.

The CBP is an opportunity for investors to better understand the economic affairs of a company which might affect its share prices and ultimately has impact on their investments. Through this platform, the investors can also know about the company’s past performance and its future prospects.

Ambassador of Netherlands visits LSE

LAHORE: The Ambassador of Netherlands to Pakistan, Mr. Marcel de Vink visited the Lahore Stock Exchange and met with the management & brokers of the exchange and discussed various matters of mutual interest.

Mr. Aftab Ahmad Chaudhary along with his staff briefed him about the structure and performance of the Capital Market of Pakistan. Mr. Aftab said that various initiatives to be taken by the Exchange in future to promote business opportunities & investments in various sectors of Pakistan. He informed the visiting dignitary that there are many opportunities not only at large infrastructural level but also at small & medium scale and the Exchange is fully equipped to facilitate these investments.

The Ambassador expressed excitement at historic outstanding performance of Pakistan’s equity. He said that the Netherlands is aware of the economic opportunities and possibilities being offered by Pakistan and is in fact very interested that the economic relationship between the two countries changed “from aid to trade” and promised his sincere efforts for showcasing Pakistan as a viable investment opportunity to his government and citizens.

SECP chief urges institutional investors to play their due role

LAHORE: Institutional investors have a critical role in the development of Capital Market and they should play their active role in making the markets safe and secure venues for creation of wealth for the society.

This was stated by Mr. Imran Iqbal, Executive Director of the Securities Market Division of Securities & Exchange Commission of Pakistan at the Institutional Investors Roundtable arranged by Lahore Stock Exchange.

The roundtable was organised by Lahore Stock Exchange to promote participation of institutional investors in LSE and to discuss their views about regulatory and market structure issues. The conference was also addressed by the Managing Director and Chief Executive Officer of Lahore Stock Exchange, Mr. Aftab Ahmad Chaudhry who briefed the participants about effective risk management in Pakistan.

LSE to explore institutional investors market

LAHORE: The Lahore Stock Exchange seeks to add another achievement to its basket of leads by holding the institutional investors on a round table conference scheduled on 23rd August 2013. The round table meeting is being held to attract and promote the participation of the institutional investors at the Lahore Stock Exchange.

The conference aims to increase the involvement of the institutional investors with LSE and the brokers by discussing and hearing the comments from the representatives of the institutional investors. The feedback provided by the participants shall assist Lahore Stock Exchange to construct a roadmap for the effective service delivery to its bulk investors.

Considering that the LSE has already managed to have the introduction of the institutional delivery settlement (IDS) mechanism on the Broker to Broker (b2b) trades, the LSE brokers now stand ready to offer their intermediary services to the institutional investors without any time or price disadvantages.

Pakistan stocks end lower

KARACHI: Pakistan’s main stock exchange closed lower as the benchmark 100-share index of the Karachi Stock Exchange fell 0.06 percent or 14.59 points to 23,673.30 amid rumors that central bank may increase the interest rate later this month. And there was some profit taking also, dealers said.
Oil and Gas Development Co. fell 1.26 percent to 260.12 rupees while Engro Foods Ltd. was down 0.28 percent at 121.45 rupees.
The rupee ended weaker at 102.77/102.82 against the dollar, compared to Thursday’s close of 102.65/102.70.
Overnight rates in the money market rose to 8.75 percent from Thursday’s close of 6.50 percent.

Formal listing of Lalpir Power Ltd at LSE from 20th

LAHORE: Lahore Stock Exchange has approved the application for formal listing and quotation of shares of Lalpir Power Ltd on completion of all formalities required under the Listing Regulations of the Exchange.

Trading in the shares of the company will start on the Ready Board of the Exchange from August 20, 2013 and all transactions taking place in respect of the above company shall be settled on T+2 settlement basis from the above date. The first settlement date will be August 22, 2013. The market lot of the company will be 500 shares of Rs.10/- each.

The shares of the company have already been declared eligible security by the Central Depository Company of Pakistan Ltd. (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan (NCCPL), which has already assigned Company Code/Security Symbol as “LPL”. The opening price of shares of the company will be Rs. 22/- per share as determined through book building process. Normal circuit breakers will be applicable on the opening price of shares in the Ready Market.

The Share Registrar of the company is Central Depository Company of Pakistan Ltd., CDC House, 99-B, Block-B, S.M.C.H.S, Shahrah-e- Faisal Karachi-Ph: 021-111-111-500, Fax: 021-34326053. The company will be quoted under “Power Generation & Distribution” Sector of the Ready Board Quotation of the Exchange.

Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the stakeholders and management of Lalpir Power Limited, and informed the investors that after the listing of this company at the Lahore Stock Exchange a new product in Power Generation & Distribution sector will be available for investment.  The MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.