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Article: Karachi stock market starts new year dismally; down 112 points.
- Article from:
- The Nation (Karachi, Pakistan)
- Article date:
- January 1, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By SYED MOHAMMAD TAHIR LAHORE, January 1 (THE NATION): Devaluation spree of shares prices at Karachi Stock Exchange remained continue unabatedly even on the beginning of new year and amid hopes for the unveiling of marketing supporting fund programme this week. Thursday was the 14th consecutive day after the removal of floor mechanism when Karachi Bourse meltdown unabatedly shedding further 1.9 per cent value - lowest in the recent past - meaning the market has so far lost 37 per cent of its value since December 15, when regulators removed a floor on the benchmark index imposed in August to stop such colossal losses to investors and brokers. Though, market meltdown ratio ...