Market watch: KSE-100 slumps in line with global markets 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.
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.
KSE-100: stocks stage recovery as index climbs by 136 points Index clocks at 47,628 level; volume recorded at 191.69 million shares
July 16, 2021
Market participation by retail investors ended their dry spell on Thursday which lifted benchmark kse-100 index to climb past 47,600 level after posting about 136 points gain by the closing bell.
On Thursday, the trading kicked off on an optimistic note right after the opening bell as the index climbed steadily for most part of the day and touched intraday high of 47,736.13. However, the market came under selling pressure in final hours, which pared some of the gains.
Market sentiments were primarily driven by the rumors of Oil discovery in Waziristan, which directed major capital to index heavyweight Oil & Gas Development Company Limited (OGDCL), said Irfan Saeed, Senior Vice President BMA Capital Management Limited.
Market watch: PSX begins week on negative note 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.
Fear of fourth Covid wave rattles market
Stocks battered on back of expectations about quarterly financial results, soaring virus cases
KARACHI:
A turbulent week at the Pakistan Stock Exchange (PSX) finally came to an end as lack of triggers and limited investor interest took toll on the benchmark KSE-100 index, which fell 123 points or 0.3% to close the week at 47,563.45 during the week ended July 9, 2021.
Trading kicked off Monday on a bearish note. Political tensions following a rally of the Pakistan Democratic Movement (PDM) in Swat after several months coupled with soaring inflation and failing efforts of the government to control price hike added to concerns of investors.