Summary Investors are puzzled owing to the issuance of notices
KARACHI (Dunya News) – Pakistan Stock Exchange saw a weak first week as 1,533 points were squeezed out of the market, Dunya News reported Saturday.
The week started with 32,534 points while it ended with 31,001 points.
Thursday marked the lowest day of the week as 100-Index dropped by two percent, 713 points. The business, on the last day of trading saw a plunge of 439 points. Sources privy to the Securities and Exchange Commission of Pakistan (SECP) said that few other brokers have been served notices.
Investors are puzzled owing to the issuance of notices.
On the other hand, trading pertaining to energy sector also bore pressure owing to decrease in crude oil prices in the international market.
Slow Chinese economy and dismal performance of Asian markets have also resulted in Pakistan Stock Exchange’s plunge.
A week earlier, stock exchanges of Karachi, Lahore and Islamabad were merged to form one trading giant, Pakistan Stock Exchange.
On January 11, a grand launch was organised in the federal capital. The ceremony was organised by the then Karachi Stock Exchange and Securities and Exchange Commission of Pakistan.
Experts welcomed the decision terming a growth-bearing development. They further said that investors would have a wider reach as Pakistan Stock Exchange has better international links.
