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Pakistan stocks on Wednesday continued to drop as the Karachi Stock Exchange (KSE) benchmark 100-share index hit record low in more than four years. The KSE 100-share index plunged 172.37 points, or 2.85 percent, and closed at 5865.01 points with a trading volume of 78.7 million shares. The KSE index has shed more than 3,500 points from 9,446.81 points after its watchdog removed the trading floor on Dec. 15.

KARACHI: A leave to appeal filed by the stock brokers against a decision by a division bench of Sindh High Court (SHC) was disposed off here on Tuesday by a bench of Supreme Court of Pakistan comprising Justice Moosa K Leghari and Justice Zawwar Hussain Jafferi. When the appeal was taken up, the counsel for appellant stated that the main parties including the appellants and defendants National Clearing Company Pakistan Limited (NCCPL) has arrived at a negotiated settlement and in view of the this appellant is not inclined to press the appeal. The bench allowed the request and disposed off the appeal as not pressed. The controversy pertained to the CFS Mark II system would have resulted in collapse of the Karachi Stock Exchange after default of the main members. staff report