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KSE-100 index falls flat after range-bound session
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Market watch: Stocks dip as rollover week begins
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Daily Times Index clocked in at 47,793 level, foreign investors were net sellers of $21 million
July 25, 2021
Investors struggled to find a catalyst to set a direction at Pakistan Stock Exchange (PSX) in the shortened (two-session) outgoing week, as risk-shy investors remained away from the index, owing to the rising Afghan crisis, resurgence of Covid-19 and foreign selling pressure.
The PSX benchmark KSE-100 index exhibited a range bound session as it clocked at 47, 703 level inching down from 47,834 points- previous weeks closing, after trading between the weekly high of 48,004.54 points and a low of 47,691.33 points, respectively.
Investor sentiment remained lukewarm primarily due to a shortened trading week due to Eid holidays. Moreover, the departure of US forces from Afghanistan has placed the region in a tight spot, as Afghan Taliban has been staking claim over 90 pc of the country, risking a fallout in the neighbouring countries-with Pakistan facing a major security cr
KSE-100 index retreats in short week
Eid holidays, rising Covid-19 cases hamper activity at Pakistan Stock Exchange
KARACHI:
Lack of positive triggers at the Pakistan Stock Exchange (PSX) kept the bulls at bay as the benchmark KSE-100 index witnessed lifeless trading and closed almost flat. The index was down 41 points or 0.1% during the shortened trading week to close at 47,793.07.
The market managed to finish one session out of the two sessions in the green during the week. The stock market remained closed for three days on account of Eidul Azha holidays.
Trading was subdued with volumes remaining low throughout the week as the upcoming results season forced market players to trade cautiously. The week kicked off on a positive note, in line with the performance in the previous week. Trading, however, remained lacklustre as investors avoided taking fresh positions ahead of the three-day-long holidays (Tuesday-Thursday).