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Karachi equities further consolidated Friday to gain 12 more points as institutional investors booked profit in certain blue-chip cement and fertiliser stocks. The KSE-100 index ended at 35,741.52 points compared to 35,730.01 of last trading session. The trading turnover remained thin and dropped to 299 million shares from Thursday''s 428 million. The value of stocks traded also depleted to Rs 10.77 billion as compared to the previous Rs 14.46 billion.

Chief of the Army Staff (CoAS) General Raheel Sharif on Friday reiterated his firm resolve that any attempt to obstruct or impede China Pakistan Economic Corridor (CPEC) project would be thwarted at all costs. Speaking on the occasion of Chinese Army's 88th Anniversary, he said that co-operation on the CPEC would benefit the entire region, said an ISPR press release issued here.
The Securities and Exchange Commission of Pakistan (SECP), through circular No. 26 of 2015, has reduced existing maximum level of sales load, from five percent to up to three percent, that asset management companies (AMCs) are authorised to charge on sales of mutual fund units. The circular requires that no sales load shall be charged if an investor approaches the AMC directly for investment or where purchase transactions are done online.
All the gas-dependent industrial units of the country's oldest and largest Sindh Industrial Trading Estate (SITE) on Friday remained closed in the wake of sudden drop in gas pressure. Even captive power generating units came to an abrupt halt following drastic reduction in gas pressure in Site industrial area.
Poor response in the first tender compelled the Trading Corporation of Pakistan (TCP) to issue another tender for the sale of the remaining cotton procured from domestic market. Sources told Business Recorder Friday that although the state-run grain trader has successfully sold some 6,800 cotton bales in the first tender, however the lower participation in the first tender forced the TCP to issue multiple cotton tender to offload the remaining quality of 88,600 cotton bales.
The Federal Board of Revenue (FBR) will charge enhanced rate of 36.5 percent sales tax on the supply of electricity generated exclusively through high speed diesel by the Independent Power Producers (IPPs). In this regard, the FBR has issued an SRO719(I)/2015 here on Friday. It said that sales tax shall be charged on the supply of electricity generated exclusively through high speed diesel (PCT heading 2716.0000) at the same rate of sales tax as is charged on high speed diesel (HSD).
The State Bank of Pakistan (SBP) kept on injecting the banking system to reduce the widening liquidity supply and demand gap. An amount of Rs 850 billion was pumped into the system on Friday. The SBP on July 31, 2015, conducted its Open Market Operation (injection) and received overwhelming response from banks as they submitted 30 bids amounting to Rs 913.55 billion at a rate ranging from 6.50 percent to 6.60 percent for 7-day (injection).


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln