ISLAMABAD: In a letter addressed to the managing directors of Karachi, Lahore and Islamabad stock exchanges, the Securities and Exchange Commission of Pakistan (SECP) advised the managements of stock markets to remain alert to counter any market-related speculations.
Meanwhile, the KSE-100 index was recorded at three-month low of 31,086.51 points from the previous 31,310.73. Shrank by 5.7 percent during last seven trading sessions, the benchmark index slumped by 10.95 percent from its February 3 peak.
SECP Chairman Zafar Hijazi also suggested that a relevant clarification should be immediately issued to dispel any rumour. He urged them to closely monitor and exercise oversight to ensure that all risk management measures are complied with, including collection of margins in a timely manner.
He advised the managing directors to maintain close coordination with the SECP and submit daily reports to confirm collection of margins including the market-to-market losses as per the regulations.
