Pakistan stock market calm as small investors given exit

Karachi - An eerie calm persisted in Pakistan's largest bourse on Friday following introduction of a special exit counter for small investors to dump their holdings, traders said.

As the unrelenting slide triggered violence on Thursday, hundreds of investors and traders stoned the Karachi Stock Exchange (KSE), demanding its temporary closure to avoid future losses.

On Friday, top brokers set up a special fund of an undisclosed amount along with a separate temporary trading counter for small-capital investors to provide them safe exit without going through defaults.

As a result, the market closed slightly up by 21 points at 10,234.

The benchmark KSE-100 Index had lost over 30 per cent in the last few months, eroding around 30 billion dollars in market capitalization and pushing thousands to a verge of insolvency. (dpa)

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