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Commentary

Pakistan is Floored

So this is what the folks at the Karachi Stock Exchange have to say:


Pakistan is Floored

Fantastic. So prices can’t go below Wednesday’s closing values. Guess where they are going to stay until this rule is removed? (Hint: Wednesday’s closing prices)

The reason markets exist is for price discovery. Not for only going up. It’s a good thing SEBI or NSE isn’t quite this stupid; though the ridiculous implementation of short selling doesn’t take them in the clear.