Pakistan’s 100 Index still shy of 50k, recovers some losses

Pakistan’s 100 Index still shy of 50k, recovers some losses

KARACHI: Despite the hesitance observed in the stock market, KSE-100 Index was able to climb up 374 points (0.76%) to end Thursday's trading session at 49,588 points, rising above yesterday’s close, but still hovering in the 49,000 territory.

As of the closing bell, almost 88.87 million shares had swapped hands in transactions worth a total of Rs. 9.78 billion.

The Index is resisting entering the 50k territory and has only been serving short stints every few days. The high and low during market hours today registered at 49,693 and 49,163 points, respectively.

Markets are experiencing bearish sentiment ever since the liquidity crisis caused by the Security and Exchange Commission of Pakistan's (SECP) order for Pakistan Stock Exchange (PSX) to fix the defaulting issue by selling off the brokers' holdings and paying off the investors’ dues.

In a press release issued on February 8, SECP chairman Zafar Hijazi said, "There is nothing dearer to my heart than investor protection; rest assured, we will take decisive action if PSX fails to shoulder its responsibility as the front-line regulator."

Pakistan’s 100 Index still shy of 50k, recovers some losses was posted in business of Geo TV - https://www.geo.tv on February 16, 2017 and was last updated on February 16, 2017. This news story is related to 100 Index, Benchmark Index, Business, Geo, Kse 100 Falls, Kse-100 Index, Liquidity Crunch, Pakistan, Pakistan Stock Exchange, Psx, Stock Market, Karachi, Pakistan Stock Exchange. Permanent link to the news story "Pakistan’s 100 Index still shy of 50k, recovers some losses" is https://www.geo.tv/latest/131314-Pakistans-100-Index-still-shy-of-50k-hovers-around-49000-points.