SECP denies probe into stock market fall

ISLAMABAD:

The Securities and Exchange Commission of Pakistan (SECP) has clarified that stock market surveillance is carried out continuously through a modern, automated system and that it is not conducting any investigation into allegations that the stock market was deliberately brought down.

In a statement, the SECP strongly denied certain media reports and claims circulating on social media alleging that the regulator was probing activities linked to an intentional fall in the stock market or that a cartel of brokers had dumped the market.

The SECP said market surveillance is conducted on an ongoing basis through a modern and automated mechanism. According to the regulator, fluctuations in the stock market occur due to a range of economic and financial factors, and it is incorrect to attribute such movements to a single cause or to speculative conspiracy theories.

The SECP urged investors to rely only on authentic sources of information and to avoid paying attention to rumours.