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Benchmarks trade firm; breadth remains positive
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Consumer Price Index Rises 6 26% In June, Food Price Inflation Stays Elevated
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Daily Times
May 3, 2021
The Pakistan Stock Exchange (PSX) is unlikely to escape the bumpy ride this week and stocks are at a major risk of underperforming on back of rising coronavirus cases, lockdown fear, reduced business timing, and extended Eid holidays starting this weekend, besides political instability.
Another factor that can put pressure on stocks is an increase in the Consumer Price Index-based inflation, which surged by 11.1 percent on a year-on-year (YoY) basis in April 2021 as compared to an increase of 9.1 percent in the previous month. On a month-on-month basis, it increased by 1.3 percent in April as compared to an increase of 0.3 percent in March.
Updated Apr 08, 2021 | 13:22 IST
The decision to keep the repo rate unchanged at 4 per cent in the first meet of the financial year was the fifth time the MPC has done so since May. Representational image.  |  Photo Credit: PTI
Key Highlights
While retaining its growth outlook for FY22 at 10.5 per cent, the MPC did, however, acknowledge the increasing uncertainty stemming from the resurgence of the SARS-CoV-2 virus across the country
In a show of some optimism, the RBI retained in GDP growth forecast of 10.5 per cent for 2021-22 noting that the country was now better prepared to deal with the COVID-19 outbreak amid the government s continuing immunisation drive
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