| GEO Business | | KSE closes early due to glitch | Updated at: 1450 PST, Friday, February 27, 2009
KARACHI: The Karachi Stock Exchange closed early on Friday, after the board was forced to cancel the day's second session due to a power supply problem.
KSE director, Asad Iqbal said the outage meant members in the exchange were unable to use the Karachi automated trading system (KATS), while those operating from remote sites were able to access KATS. "It needs to be a level playing field for all, so the second session has been cancelled," Iqbal said.
"The rule is that if more than 20 percent of KATS are out of operation, then trading is suspended." Iqbal further said.
The benchmark 100 shares index KSE stood 1.29 percent higher, up 73.07 points at 5722.56 at the unscheduled close on Friday.
The market was reeling earlier this week from fears of a brewing political crisis. Former prime minister Nawaz Sharif, leader of the country's second largest party, called for people to protest after he and his brother were barred by the Supreme Court on Wednesday from contesting elections and their party was ejected from power in Punjab province.
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