MAJOR stockbrokers have yet to press the force selling button, which may affect as low as 20 companies and the tally may go up to 30 companies.
It is learnt that brokers have exercised restraint as they feel the selling on some counters is driven by panic due to the extenuating circumstances arising from the economic gridlock and compounded by short selling by traders taking advantage of the situation.
“These are counters where the stocks are held by major shareholders who had pledged their shares for margin facilities. If the force selling takes place, the sell-down can be very fast.
...