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Market watch: PSX sheds 80 points on return from Eid break
tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
Market watch: Stock market lacklustre ahead of Eid holidays
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Market watch: Stock market dull ahead of Eid holidays
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Daily Times Index up by 0.6pc, average volumes fell by 4pc
July 18, 2021
Stocks witnessed a cautious trading activity in the outgoing week, as risk-shy investors remained away from the index, owing to the rising Afghan crisis and approaching CGT submission deadline.
The benchmark kse-100 index exhibited a range bound session as it clocked at 47,834 points, up 0.6pc WoW, after trading between the weekly high of 47,890 points and a low of 47,388 points, respectively.Moreover, the average trading volumes fell by 4pc to settle at 467 million shares, while the traded value decreased by 10pc to average at $96 million.
Investor sentiments remained lukewarm primarily over approaching deadline for the Investors to submit CGT to the NCCPL by the July 16th i.e Friday, which continued to remain a major reason denting market participation, The NCCPLs’s move to collect CGT till May 21-11 month time, ahead of the normal 12-month time-which ends on June 30th- inflated the investors’ payab
PSX inches up in lacklustre week
Concerns over fourth wave of Covid-19 hinder market from posting exorbitant gains
KARACHI:
The Pakistan Stock Exchange (PSX) witnessed a tepid week as concerns over the fourth wave of Covid-19 played on investor’s mind and dimmed trading activity. Despite lacklustre trading, the KSE-100 index managed to close the week with a gain of 0.6% or 271 points at 47,834 points.
“The week saw the index gaining some momentum in spite of a continued rise in Covid cases on account of the delta variant,” stated a report from Arif Habib Limited.
Trading on Monday kicked off on a negative note and the market dropped as concerns over rising coronavirus cases coupled with the anticipation of another lockdown shattered investor confidence.