Investors hold demonstration outside ISE

The genuine investors and traders of Islamabad and Rawalpindi held a demonstration against heavy losses in the shares business outside Islamabad Stock Exchange (ISE) building on Friday. Around 100 small investors of the twin cities gathered at the ISE premises to protest against the ongoing crash-like situation at the bourses of the country.
The investors came out of the premises of the ISE building in the morning, when the ISE Network index nose-dived for consecutive fifth day during the current week.
The angry investors chanted slogans against the manipulators and speculative forces, alleging that the Securities and Exchange Commission of Pakistan (SECP) was unable to check the market volatility when the index took correction of over 4000 points in a single day.
They protested that timely intervention of the corporate watchdog might have changed the current situation. Investors shouted that if the SECP had investigated abnormal corrections in a single session, the situation could be entirely different.
The crowd held government high-ups including regulators responsible for this situation. They asked the ISE management to confirm the rumours, which created panic-like situation among the investors. Whether there is a possibility of heavy defaults as brokerage houses may not be able to make settlements? the agitators raised questions.
The angry crowd shouted that Managing Director and Chairman ISE should come out of the ISE premises and clarify the position to the genuine investors and traders. The management of ISE tried to calm investor's fears and assured that the traders' concerns will be communicated to all the concerned government departments including SECP.
According to ISE officials, the clients came out for agitation and they were asking for a clarification that why they were not being allowed to sell-off their positions and margins which were being eroded. Secondly, they demanded of the ISE management to find out the real manipulators responsible for this crisis.
When contacted, Chairman ISE Abdul Waheed Jan said that the investors have handed over their demands in written to the ISE management, which has been forwarded to the SECP and other concerned government departments for necessary action.
He said that the SECP is trying its level best to protect the investment of the investors through reforms and risk management measures.
The ISE management called the police, which dispersed the investors after an hour and half-long protest.