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Protest over Pakistan share slump

by Sanjay Jha | July 17, 2008 at 07:41 am | 115 views | 1 comment

Recession in global economy is affetcting equity markets all over the world . Worst victims are the share holders in the developing countries. Indian & Pakistani share market were zooming in last few months. But lately it has started sliding. After reaching the peak of 22,000 Indian stock market has nosedived to 13000 level. Same is situation in Pakistan share market. Not investors are protesting against the constant slide in the share market. After refusal of a temporary halt to trading Investors in Karachi went on the rampage and smahed windows and lights. Police had to called in to disperese the mob.

Angry investors have attacked the Karachi Stock Exchange (KSE) in protest at plunging Pakistani share prices.
More than 200 people took part in the demonstration at the country's main stock exchange in the southern city.
A number of windows were broken and at least two people injured, Reuters news agency reports.
The protesters demanded a temporary closure of the KSE to stop further slides. It is down 14% since Monday and reached an 18-month low this week.
There were smaller protests in the cities of Islamabad and Lahore, where demonstrators burned tyres near the local exchanges.
A growing company and consumer debt burden and surging inflation have led to a crisis of confidence in Pakistan's economy, analysts say.
Concern has also been fuelled by political infighting between the new coalition government and its allies, as well as growing US pressure on the authorities to crack down on Islamic militancy in the country.
Smashed windows
The small investors who gathered in the main hall of the Karachi Stock Exchange were alarmed by stock prices falling for the 14th day in a row.