KSE-100 snaps two-week losing streak
Index rallies 912 points ahead of long Eidul Fitr holidays
KARACHI:
The Pakistan Stock Exchange (PSX) recovered during the short trading week with a gain of 2.1% after two weeks as a spate of positive developments helped the benchmark KSE-100 index surge 912 points to settle at 45,174.67 points.
Trading kicked-off on a negative note on Monday as inflation numbers dampened investor’s confidence. According to data announced by the Pakistan Bureau of Statistics, the inflation reading skyrocketed to 11.1% in April.
Moreover, the benchmark KSE-100 index maintained the downtrend due to news that the government had decided to close all businesses during 10-day long Eidul Fitr holidays, which forced investors to trade cautiously as they avoided taking fresh positions.
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KSE-100: Selling pressure continues owing to pending futures open positions; index lost 186 points
May 4, 2021
Stocks at Pakistan Stock Exchange (PSX) were hammered on the first trading day of the week as the index continued to lose ground to selling pressure over rising political uncertainty and negative economic indicators.
However, pending futures open positions led to additional selling pressure on Monday. Irfan Saeed, Senior Vice president, BMA Capital Management Limited, said open positions on the last trading of the roll-over week stood at a gargantuan Rs.31 billion, and since Friday’s trading hours were cut short, investors were unable to square their positions. This situation led to heavy offloading of the equities on Monday, he noted.
Market watch: Inflation hike dents investor interest at PSX
Benchmark KSE-100 index drops 186.15 points to close at 44,076.20
PHOTO: AFP
KARACHI:
Bear maintained a firm grip over the Pakistan Stock Exchange on Monday, in line with the performance during the last futures rollover week, as soaring inflation fuelled selling pressure across the board ahead of upcoming prolonged holidays.
According to data announced by the Pakistan Bureau of Statistics, the inflation reading skyrocketed to 11.1% in April.
Moreover, the benchmark KSE-100 index maintained the downtrend due to news that the government had decided to close all businesses during 10-day long Eidul Fitr holidays, which forced investors to trade cautiously as they avoided taking fresh positions.
Kse-100: Stocks battered over fears of additional Covid restrictions; index lost 600 points
May 1, 2021
Stocks at Pakistan Stock exchange were hammered on the last trading day of the week as index continued to lose ground to selling pressure over rising political uncertainty, while rising covid-19 cases in the country have also stoked fears of complete lockdown- denting market sentiments.
On Friday, the benchmark kse-100 opened on a positive note and touched intra-day high at 45,056.90 level after gaining 193 points, but reversing its trajectory the index lost 711.42 and touched intra-day low at 44,151.69 level. However, the index clocked at 44,262.35 level by the closing bell after posting a 600.75 points loss.