Stock prices at KSE end flat
KARACHI: The local stock market ended flat on Monday, in dull trade as investors remained on the sidelines ahead of the monetary policy for August and September announcement, due to be unveiled on Friday, dealers said.
The Karachi Stock Exchange”s benchmark 100-share index, rose 0.02 percent, or 1.64 points, to end at 10,297.68 points.
Volume fell to 40.19 million shares, compared with 67.39million shares traded on Friday.
Majority of market analysts expected the central bank to keep its policy rate unchanged at 12.5 percent when it sets monetary policy for August and September in a meeting on July 30, but further tightening could be coming when the central bank meets next in September.
However three analysts expected the central bank to raise its key policy rate by 50 basis points because of a widening fiscal deficit.
Dealers said investors were also waiting for the outcome of a meeting between the KSE authorities to approve recommendations for the reintroduction of margin buying.
The meeting started after the market closed on Monday.
Opposition wreaks chaos in Punjab Assembly
Lahore, Pakistan news:- The opposition members stirred chaos in the Punjab Assembly yet again and the house became a fish-market Monday.
The Punjab Assembly meeting started an hour and a half late. When the Law Minister Rana Sanaullah tried presenting his motion, the opposition started shouting. After the speaker’s decision, the opposition leader Chaudhry Zaheeruddin passed his resolution and the house unanimously approved the resolution for paying tribute to Allama Iqbal. Later, two privelege motions of the opposition were passed. The opposition member Ahmed Yar Haraj protested for presenting the wrong answer to the Robert Farm case. The speaker then postponed the motion and permitted presenting the amendment bill. The house approved the amendment bill 2009 for the underdeveloped areas and also related to kite-flying. During this time, the opposition continued shouting.
Government officials say that the opposition members tore the copies of the agenda and threw them in the house. The copies had hymns written in them for the Holy Prophet (PBUH).
“May my parents be sacrificed for the Prophet (PBUH). The government has stooped to its lowest,” said the opposition member Chaudhry Zaheeruddin.
Opposition wreaks chaos in Punjab Assembly was first posted on November 9, 2009 at 8:59 pm.
