06012016Wed
Last update: Wed, 01 Jun 2016 06am

Stocks and Bonds

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The following transactions member to member subsequently reported on Tuesday (May 31, 2016).


The following were the cross transactions between client to client & financial institutions here on Tuesday (May 31, 2016).

Prime Minister Nawaz Sharif Monday chaired back-to-back National Economic Council (NEC) and federal Cabinet from London through video link - first-ever in the history of the country - to approve development outlay of Rs 1675 billion and a growth target of 5.7 percent as well as federal budget of around Rs 4.418 trillion for the next fiscal year.
The Finance Bill 2016 would disallow input tax adjustment on sales tax paid against provincial services from 2016-17. Sources told Business Recorder here on Monday that FBR has proposed that provincial sales tax on services may be excluded from the definition of input tax. Therefore, taxpayers registered with FBR would not be able to reclaim input tax adjustment against the services received from their service providers operative within respective provincial sales tax authorities.
Air France pilots voted on Monday to go on strike and oil storage workers extended a job walkout, compounding the French government's woes as it scrambled to calm rolling protests against labour reforms ahead of the Euro soccer tournament. After more than three months of tense talks, often violent street protests, and waves of strikes in the transport and energy industries, the Socialist government is under pressure to find a solution before the Euro 2016 kick-off on June 10.
The State Bank of Pakistan (SBP) Monday announced that it will penalise banks, if they avail cash sorting facility from a bank, which fails to get cleared its cash processing machines from the SBP by 30th June 2016. Under the currency management strategy, for selection of cash processing machines, SBP has directed banks to finalise up to a maximum of three types (models) of machines that meet the SBP prescribed sorting/authentication standards and arrange a demo of the same at SBP offices.
Stocks ended 460 points lower at 36,235 points amid what equity analysts said pressure in overbought scrips across-the-board. The KSE-100 index started the day from Friday's 36,694 and was once seen nose-diving to intraday low of 36,182 points level. Trading turnover rose to 205 million from the previous 199 million. The traded value depreciated to Rs 9.18 billion as of the total 380 scrips traded, only 99 posted gains, 263 lost their worth and that of 18 stayed unchanged.