KSE-100 Index plummets 752 points as Covid fears weigh on sentiments
April 6, 2021
Bears continued to wreak havoc at Pakistan Stock Exchange (PSX), as investors have struggled to gain a firm foothold ever since the benchmark KSE-100 index slipped from the recent high of 47,000 points, as market is being held hostage to the flare-up in Covid-19 infection cases that has forced fresh rounds of lockdown across the country.
Owing to weak economic indicators and Covid-19 fears, on Monday the kse-100 index lost another 752 points by the closing bell to clock at 43,548.21 level.
Investors have remained muted over positive exports data, which posted an increased to a ten-year high at $2.345 billion during March and appreciation of Rupee, which has led the chart of the world’s best-performing currencies in the first three months of CY21 as it closed on a stronger note with an appreciation of 4.43% against the US Dollars.
UK-based SaaS company Cyclr raises over £2million in capital for acceleration
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6 April 2021 - Cyclr Systems Limited (‘Cyclr’ and ‘the company’) is pleased to announce that today it has secured over £2million in new investment led by Blackfinch Ventures (‘Blackfinch’) and supported by existing investors Juno Capital (‘Juno’).
Despite the global disruption during 2020, and early 2021, Cyclr has progressively grown its team from 12 to 23 people with year on year revenue growth of over 150%.
Fraser Davidson, CEO, Cyclr
This new investment will enable Cyclr to accelerate recruitment even further as it continues to develop its client base and innovate in the area of Embedded iPaaS.
Systems Ltd. Collaborates With IBM On Hyperautomation In Businesses
Hyperautomation: The future of the business industry in Pakistan? Systems Limited collaborates with IBM to explain the what, why, and how of hyperautomation in businesses.
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Recently Systems Limited collaborated with IBM to host an event with a focus on hyperautomation in businesses. The event was hosted at Mövenpick Hotel, Karachi. The two companies explained the importance and capability of hyperautomation – a process that combines machine learning (ML), artificial intelligence (AI), and automation tools to maximize business efficiency. Is it time for businesses in Pakistan to consider switching to hyperautomation? To find out the answer, let’s first understand what exactly is hyperautomation.
KSE-100: Stocks inch up as investors struggle for direction
April 1, 2021
Investors continue to struggle for a direction at Pakistan Stock Exchange (PSX), as benchmark KSE-100 hardly changed after moving both ways with trade drying up on Covid-19 worries. On Wednesday, the benchmark KSE-100 gained 96.82 points by the closing bell to clock at 44,587.85 level.
Following Monday’s blood bath market participants have been treading cautiously as pessimism over the economic situation and renewed lockdown restrictions continued selling pressure at the bourse.
On Wednesday, the index opened on a positive note as investors cheered the government’s announcement, that it successfully sold $2.5 billion worth of Eurobonds to foreign investors. Analysts claimed that Pakistan’s dollar-denominated Eurobonds have been oversubscribed almost two times after receiving raving response to attractive interest rates from foreign investors, and expect the country to raise additional $2 to $2.5 billi