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KSE-100: Covid concerns, forward inflation risk keeps Investors on sidelines; index dips 82 points
July 7, 2021
Bears continued to rule at the KSE-100 index for the third consecutive session as investors remained on the sidelines- treading cautiously amid resurging Covid -19 cases in the country and rising concerns over forward Inflation.
On Tuesday, the trading activity resumed on a positive note, as the Index traded in the range of 417.75 points or 0.88 percent of previous close, showing an intraday high of 47,662.68 and a low of 47,244.93. The index clocked at 47,346 level by the closing bell after posting an 82 points loss. During the day, the National Command and Operation Centre (NCOC) held a meeting and indicated towards re-imposition of stringent standard operating procedures in view of a consistent uptrend in Covid-19 cases over the past one week. This report, in particular, coupled with higher international oil prices which weighed on inflation expectations, played on in
PSX rings in FY22 on positive note
Index continues range-bound trading amid approval of Finance Bill
ISLAMABAD:
Bulls staged a comeback at the Pakistan Stock Exchange (PSX) following two weeks of bearish trade as the benchmark KSE-100 finished the first week of FY22 with a meagre gain of 83 points or 0.2% to settle at 47,686.18 points.
Interest in selected stocks kept the market buoyant as sector-specific developments spurred buying interest. The index maintained an upwards momentum on the back of approval of federal budget for fiscal year 2021-22. The market finished three of the five sessions in the green.
The week began with the KSE-100 index diving downwards as dismal economic data dented investor sentiment. Current account figures released by the State Bank of Pakistan (SBP), which showed a deficit of $632 million in May 2021, coupled with the decision taken by the Financial Action Task Force (FATF) to keep Pakistan in its grey list and warning of a fourth wave of Covid-19
KSE-100 index jumps 135 points despite Year-end sale by Insurance companies
June 30, 2021
Pakistan Stock Exchange (PSX) witnessed a topsy-turvy trading session on Tuesday,as heavy selling pressure by Insurance Companies shadowed budget-approval optimism at the market.
On Tuesday, the index began the session on a positive note right after the opening bell and crossed the 47,500-point mark briefly after gaining over 500 points. However, failing to sustain the momentum, the index reversed its trajectory and pared earlier gains to touch intra-day low of 46,986.47 level.
The Index traded in a range of 522.35 points or 1.11 percent of previous close before settling at 47,137.77 level, posting at 135 points gain.
Stocks tumble as institutions hedge bets
June 29, 2021
Stocks took a major battering on Monday after institutions launched a position-squaring spree amid lukewarm sentiment owing to MSCI worries and FATF letdown, dealers said.
Pakistan Stock Exchange s (PSX) benchmark KSE-100 Shares Index lost 601.01 points or 1.26 percent to close at 47,002.35 points, hitting a day high of 47,659.19 points and a low of 46,900.26 points.
Haris S Khan, an analyst at brokerage Topline Securities, said equities opened the week on a bearish note and came under selling pressure due to an outstanding futures position, June 2021 financial close, and concerns regarding the MSCI reclassification review.
Moreover, the FATF (Financial Action Task Force) decision to keep Pakistan on the grey list and a current account deficit of $632 million further dampened investor sentiment at the bourse, Khan added.