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.

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.

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.