Calendar effects in the pakistani stock

The study is a unique attempt of its kind to include all four indices for exploring turn-of-the-month and month-of-the-year effects with special consideration of tax-loss-selling hypothesis for the month of July for conventional January effect. The study also found significant January returns evident in all four indices; however the effect cannot be contributed to tax-loss-selling hypothesis.

Calendar effects in the pakistani stock

Article UN says Earth's ozone layer is healing False-color view of total ozone over the Antarctic pole. The purple and blue colors are where there is the least ozone, and the yellows and reds are where there is more ozone.

The ozone layer had been thinning since the late s. Scientists raised the alarm and ozone-depleting chemicals were phased out worldwide.

Calendar effects in the pakistani stock

As a result, the upper ozone layer above the Northern Hemisphere should be completely repaired in the s and the gaping Antarctic ozone hole should disappear in the s, according to a scientific assessment released Monday at a conference in Quito, Ecuador.

The Southern Hemisphere lags a bit and its ozone layer should be healed by mid-century. Use of man-made chemicals called chlorofluorocarbons CFCswhich release chlorine and bromine, began eating away at the ozone.

Incountries around the world agreed in the Montreal Protocol to phase out CFCs and businesses came up with replacements for spray cans and other uses.

At its worst in the late s, about 10 percent of the upper ozone layer was depleted, said Newman. Sinceit has increased by about 1 to 3 percent per decade, the report said. This year, the ozone hole over the South Pole peaked at nearly 9.

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That's about 16 percent smaller than the biggest hole recorded — The hole reaches its peak in September and October and disappears by late December until the next Southern Hemisphere spring, Newman said.

The ozone layer starts at about 6 miles 10 kilometers above Earth and stretches for nearly 25 miles 40 kilometers ; ozone is a colorless combination of three oxygen atoms. If nothing had been done to stop the thinning, the world would have destroyed two-thirds of its ozone layer byNewman said.

But it's not a complete success yet, said University of Colorado's Brian Toon, who wasn't part of the report.

Calendar effects in the pakistani stock

Another problem is that new technology has found an increase in emissions of a banned CFC out of East Asia, the report noted.

On its own, the ozone hole has slightly shielded Antarctica from the much larger effects of global warming — it has heated up but not as much as it likely would without ozone depletion, said Ross Salawitch, a University of Maryland atmospheric scientist who co-authored the report.

So a healed ozone layer will worsen man-made climate change there a bit, Newman said. Scientists don't know how much a healed ozone hole will further warm Antarctica, but they do know the immediate effects of ozone depletion on the world and human health, so "it would be incredibly irresponsible not to do this," Salawitch said.

And the replacements now being used to cool cars and refrigerators need to be replaced themselves with chemicals that don't worsen global warming, Newman said.

An amendment to the Montreal Protocol that goes into effect next year would cut use of some of those gases.Sunday, November 18, PM. Full Field - 11v11 Coed Soccer - Sunday pm - On Field by pm.

In addition to the calendar effects, this study sought to uncover whether any variation in Various empirical studies of the Pakistani stock market have examined monthly calendar anomalies using not just the Gregorian calendar but also its Islamic counterpart.

The Effect of Inflation, Interest Rates and Exchange Rates The Effect of Inflation, Interest Rates and Exchange Rates [30] examine the exchange rates and stock price relationships for Pakistan, India, Bangladesh and Sri Lanka using monthly data from to The experimental.

The study is an extended effort to investigate the monthly anomalies across Pakistani stock market, on four stock indices of Pakistan stock exchange by using the data from previously known as Karachi stock exchange for the period from January 01, to August 31, 1Introduction One of the most well-documented findings in empirical finance is the presence of calendar e ects in historical stock returns.

Calendar e ects refer to the tendency of stock prices to rise or fall in a systematic fashion at. Research PAKISTAN BUSINESS REVIEW OCTOBER The Islamic Calendar Effect in Karachi Stock Market Equation (1) is the simplest test for .

Calendar Effects in Pakistani Stock Market | Muhammad Akbar -