The Board of Directors of Karachi Stock Exchange (KSE) will review the floor mechanism on share prices in its meeting being held here on Thursday afternoon (today). The floor mechanism was placed on August 27 closing level of 9,144 to save the market participants from further losses, as the market was under heavy selling pressure and the KSE-100 index had declined by over 41 percent from its all time high level of 15,676 points.
During the last 20 sessions after placing the floor, the share market had witnessed dull trading activity as the average daily volume of ready market declined to 17.467 million shares during this period, much lower than 12-months average of 193 million shares. On September 24, the market witnessed lowest volume in last 10 years of 2.792 million shares. The KSE-100 index, remained volatile and hardly increased by 46 points during this period. The board of directors in its previous meeting had decided that at least seven-day notice period would be given for removing the floor.
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