The market started the day with bearish trend and selling pressure persisted during the whole trading session. The KSE-100 shed 205 points to close at 13,857 points.
Trade volume remained at 190 million shares.
Share value of at least 200 companies fell.
The Oil and Gas Regulatory Authority (OGRA) on Friday slashed gas prices which will become effective from July 1, 2012 after approval from the Petroleum Ministry.
According to the sources, OGRA has slashed gas price for the consumers of Sui Northern Gas Company Limited (SNGPL) Rs 47.52 per MMBTU and Rs 34.34 per MMBTU for the consumers of Sui Southern Gas Company (SSGC).
The sources said that the consumers will get a benefit of Rs 36 billion during the next fiscal yeardue to reduction in gas tariff.
Talking to media in New Delhi, Pakistan High Commissioner to India, Shahid Malik said that according to new visa procedure, elderly persons will be exempted from police reporting while the citizens of both the countries will be allowed to visit three cities instead of one at present.
Shahid Malik said that the businessmen will get multiple-entry and police reporting-free visas while the citizens will be allowed to visit their ancestral cities.
Prenatal exposure to a pesticide used on many crops may be linked with abnormal changes in a child s developing brain, scientists report.
Compared to children with low prenatal exposure, those with high exposure to the pesticide chlorpyrifos had abnormalities in the cortex (the outer area of the brain), says Virginia Rauh, ScD, professor and deputy director of the Columbia Center for Children s Environmental Health at the Mailman School of Public Health at Columbia University.
The cortex helps govern intelligence, personality, muscle movement, and other tasks.
"In areas of the cortex, we detected both enlarged and reduced volumes that were significantly different from the normal brain," she tells WebMD. "This suggests the process of normal brain development has been disturbed in some way."
The study is published in Proceedings of the National Academy of Sciences Early Edition.
In 2001, the U.S. EPA banned the residential use of chlorpyrifos. It still allows it on crops. It can also be sprayed in public places such as golf courses.
Some environmental advocates have petitioned the EPA to ban agricultural use.
Talking to MQM PIA unit workers in London, the Muttahida Qaumi Movement (MQM) chief Altaf Hussain said that all the conspiracies by the opponents the message of the MQM is spreading across the country.
Altaf Hussain said that the masses have realized that the MQM is the true political party which represents them.
He said that the people from all nationalities are gathering under the banner of MQM to change the outdated political system in the country.
According to Sindh Jewellers Association, gold price reached Rs 55,200 per tola with an increase of Rs 1200, while an increase of Rs 1,029 per 10-gram was recorded in gold price.
In international market price of precious metal went up by $43 an ounce.
A decrease of Rs 10 per 20-kilogram flour bag has been registered at utility stores.
On the other hand, hike in price of pulses, soap and other items were also recorded at utility stores.
Chairing a meeting Punjab CM Shahbaz Sharif said that women would be given age relaxation for three more years.
He said that it had been decided that a woman must be the member of departmental boards formed for women jobs.
These include Kot Lakhpat Lahore, Faisalabad, Bahawalpur, Multan, Mianwali, Rawalpindi and DG Khan jails.
After the Bannu mishap Punjab Home Department had declared seven out of 32 jails as the most sensitive. However, Rangers have expressed their unwillingness to provide security to the Adyala Jail.
Rangers’ officials are of the view that they do not have sufficient number of recruits; therefore they find it difficult to provide security to these jails which have been declared most sensitive in Punjab.
The Judicial Commission has recommended appointing LHC Chief Justice Sheikh Azmat Saeed as the Supreme Court judge. He will be replaced by Justice Umer Ata Bandyal who is already serving as a senior judge Lahore High Court.
The meeting of the Judicial Commission was held in Islamabad with Chief Justice of Supreme Court Iftikhar Muhammad Chaudhry in the chair.
The Commission recommended the appointment of senior judge Umer Ata Bandyal as Chief Justice Lahore High Court.
The meeting also unanimously suggested appointing LHC Chief Justice Sheikh Azmat Saeed as permanent judge Supreme Court of Pakistan.
The recommendations suggested by the Judicial Commission would be referred to the Parliamentary Committee and ultimately would be approved by the president.
Notification for appointment for the new judges would be issued after approval of the President of Pakistan.
So far as the issue of appointment of 10 additional judges in Sindh High Court is concerned, it has been put off till the next meeting.
