Stocks Observer. com

The Securities Markets Division of the Securities and Exchange Commission of Pakistan took action against seven non-compliant market participants in February. Warning letters were issued to three brokerage houses of the Karachi Stock Exchange for indulging in trading activities, which were in conflict with fair market practices. In another instance, a show cause notice was issued to a listed company for failing to implement the SECP orders. Moreover, warning letters were issued to the three directors of different listed companies for late filing of returns of beneficial ownership. In an effort to strengthen the regulatory framework of capital markets, the SECP accorded its approval to a number of amendments to the regulations of three stock exchanges, Clearing Company and Depository Company. This includes provisions pertaining to the introduction of new products, i.e., Margin Financing, Margin Trading and Securities Lending and Borrowing. In addition, approval was granted to Engro

First trading day at the Karachi Stock market was marked by prevalence of bearish activity on rising political uncertainty after government coalition partner MQM decided to boycott sessions of National & Sindh Assembly. Analysts said in their comments that range bound activities dominated market proceedings with index failing to maintain 12,000 pts level during the session. The Karachi Stock Exchange (KSE) 100-share index shed 25.48 pts or 0.21 percent closing at 11, 974.55 pts compared to 12,000.03 pts in the previous session. The KSE -30 index also shed 26.26 pts closing at 11,690.41 compared to 11,716.67 pts of the previous session. KMI-30 index shed 78.18 pts and closed at 19,813.83 pts compared o 19,892.01 of the previous session. The KSE- all shares index closed with a loss of 17.97 pts closing at 8,311.52 compared to 8,329.49 pts of the previous session. The market turnover went down by 37.62 percent and traded 116.94 million shares compared to 187.49 million shares of the p