Trading session closed with another fall of the Pakistani stocks. The reason was the intention of the investors to find out the result of the meeting to know the floor of the index. The floor was defined in August 28 at the point of 9.144 and this was the one of the measures undertaken by the government with the intention to protect share prices.
As for the Index we should say that the Karachi Stock Exchange benchmark 100-share index decreased by 6.60 points.
According to Shuja Rizvi the director broking operations at Capital One Equities Ltd investors are trying to find out what changes will experience the floor.
Due to the official of the exchange its members will have a meeting soon that will make things clearer. According to the experts opinion the floor seems to remain unchanged because any change of it may result in quite rapid fall of the index that will lead many brokers to default.
Furthermore they say about the investors’ concerns about the negative economic prospects that show only lowest level of the rupee and high inflation level.
According to the estimate given by the Moody’s Investors Service on Tuesday the negative prospect for the Pakistani debt decreased.
As for the index statistics for the year we can see certain decrease of the Karachi Stock Exchange index by 34.7 percent since the beginning of the year.