ISLAMABAD             -         The Pakistan Stock Exchange (PSX) Monday continued with bullish trend as KSE 100 index closed at 35,202.77 points as compared to 35.051.38 points on the last working day, with positive change of 151.39 points (0.43 per cent). A total 332,251,625 shares were traded compared to the trade 175,761,298  shares during the previous day, whereas the value of shares traded during the day stood at Rs11.173 billion as compared to Rs Rs6.742  billion during last trading day. As many as 380 companies transacted shares in the Stock Market, out of which 257 recorded gain and 94 sustained losses whereas the share price of 29 companies remained unchanged. The three top traded companies were TRG Pak Ltd with a volume of 37,708,500 shares and price per share of Rs33.24, Pak Elektron with a volume of 37,658,000 with price per share of Rs24.46 and Lotte Chemical with a volume of 30,842,000 and price per share of Rs10.17. Rafhan Maize recorded maximum increase of Rs240 per share, closing at Rs7190 while Sanofi-Aventis was runner up with the increase of Rs59.99 per share, closing at Rs924.99.

These changes will all go a long way towards development of vibrant capital markets and greater investor participation in the same.

It is hoped that in the same vein, the Government and Regulators, will accept the other proposals presented to streamline and reform the Capital Markets, including revamping the NBFC regulatory structure in line with international best practices, introducing regulatory framework and instruments for infrastructure funds, continuing reforms in the National Savings Schemes with respect to pricing which will help reduce the interest rate / pricing risk of the government, and better manage its debt maturity profile.

Mr. Farrukh H. Khan, MD Pakistan Stock Exchange, felicitating the Government on this step, said, “We appreciate the Ministry of Finance, SECP and Debt Office for starting the reform of NSS”. He further stated, “NSS is ultimately a scheme for the individual and vulnerable members of the society and it is best invested in by these citizens.The reform process initiated will enable the GoP to help such citizens better, while reducing the cost and managing the maturity of such debt with greater certainty.  This will also help to develop a proper yield curve and grow the capital markets in Pakistan, which is essential to improve the very low savings and investment rates in the country”.

Ms. Maheen Rahman, Chairperson, MUFAP, appreciating the initiatives taken by the Government and Regulators stated, “the recent changes in various regulatory requirements will greatly help the mutual fund industry gain a wider footprint across the country. The mutual funds industry stands ready to grow, expand and dedicate our collective efforts and resources towards the establishment of a wider presence of investment through mutual funds which will help contribute towards increasing the savings rate and expansion of capital markets in the country”.