Monitoring Desk
Low liquidity in the market weighed down on the Pakistan Stock Exchange, with the KSE-100 moving sideways on Tuesday.
Action by the Securities and Exchange Commission of Pakistan (SECP) against in-house financing has suffocated financing and trading activity in the country. Only Rs11 billion worth of 237 million shares traded today.
“Valuation is good, but market is dry and not soaked of liquidity, so, it is taking a breather,” says ZeeshanAfzal of Insight Securities. Indeed, as the takeover of PSX by a Chinese management nears, excitement surges for a new financing product. According to stock management, all stakeholders, including brokers and regulators are in dialogue for a new product.
The PSX board meeting will be held on March 10. Four Chinese members will join the management.
KSE-100 closed 17 points higher at 49,452 on Tuesday.
