7,039
June 21, 2009News : The loss of ready board leverage is shrinking volumes and since the brokers’ livelihood depends to a great extent on the speculators and day traders, the slowdown in income stream is cause for concern. But the trouble is that 104 brokers had stood up in revolt against the age-old prevalent ‘badla’, CFS or more attractively named CFS Mk-II. They could not possibly step back and admit that it was a mistake to discard the bad ‘badla’, before introducing an investor-friendly and acceptable alternative…While stock brokers have sought comments and suggestions from the fraternity in regard to the proposed new product, a consultative committee formed by the Securities and Exchange Commission of Pakistan (SECP), under the chairmanship of Aftab Ahmed Diwan, the COO of Central Depository Company of Pakistan (CDC), has also feverishly worked to develop and distribute the contours of its version of a new product of ‘Margin Financing’ (MF)….On Friday, the SECP told stakeholders to submit comments by June 25th, on the first report on ‘Margin Financing’ released by the SECP’s consultative group on capital markets…. Dawn
Market Low : 6,980.03 High : 7,078.07
Market Close : 7,039.73 – 12.04 points down
