KSE-100: Covid fears weigh down index by 93 points
April 22, 2021
Investors treaded cautiously at Pakistan Stock Exchange (PSX) on Wednesday, as overall lack of positive triggers, and rising Covid fears restrained the index and resulted in range-bound trading.
On Wednesday, the benchmark KSE-100 opened on a bullish note and touched intra-day high at 45,626.88 level after gaining 227.1 points. However, paring early gains the index reversed its trajectory and clocked at 45,306.54 level by the closing bell after posting a 93 points loss.
During the session the market was gripped with fears of rising Covid cases, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar on Wednesday issued a warning and said that if the coronavirus situation continues to worsen in the country, the government will be compelled to impose more restrictions, which dampened investors’ confidence.
KSE-100: Stocks stage recovery amid signs of political stability
April 21, 2021
Bears ceded ground to bulls at the Pakistan Stock Exchange (PSX) on Tuesday, as investors reacted to successful negotiation between the government and the protesting Tehreek e Labaik Pakistan, which sent signs of stability.
On the second trading session of the week, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,558.13 level after gaining 644.56 points. However, paring some early gains the index clocked at 45,399.78 level by the closing bell after posting a 486.21 points gain.
The sentiments were also lifted following the announcement of rollover of $2 billion from United Arab Emirates (UAE) and an 8% MoM increase in FDI in the month of March further fuelled the investors’ sentiments.
KSE-100: Protests, strikes dents market sentiment; index loses 392 points
April 20, 2021
Bears returned to the Pakistan Stock Exchange (PSX) on Monday, over rising uncertainty owing to violent protests in Lahore and subsequent calls of countrywide strike.
On the first trading session of the week, the benchmark KSE-100 opened on a negative note and touched intra-day low at 44,611.83 level after losing 693.8 points. However, paring early losses, the index clocked at 44,913.57 by the closing bell after posting loss of 392 points
During the session the market reacted to rising uncertainty in the country, owing to violent protests by the banned outfit in Lahore and subsequent calls of a nationwide strike by former chairman of the Ruet-e-Hilal Committee, Mufti Muneebur Rehman, which was backed by JUI-F chief Maulana Fazlur Rehman and JI Chief Sirajul Haq. The rising political noise dented the sentiments and kicked off a selling pressure.
Kse-100: Stocks post meager gains on lack of triggers
April 17, 2021
Bulls or Bears, stocks accommodated none at Pakistan Stock Exchange (PSX) on Friday, as lack of triggers kept investors sentiments in check, in a choppy trade.
On Friday, the benchmark kse-100 opened on a positive note and touched intra-day high at 45,471.35 level after gaining 241.17 points. However, selling pressure emerged by midday, which wiped off most of the gains. But, nevertheless, the index crawled up in the positive zone as by the closing bell the benchmark index gained 75.45 points to clock at 45,305.63 level.
During the session the market witnessed lack of investor interest, but higher expectations in upcoming financial results in key sectors was the sole reason which lent support to the bourse and aided its uptrend.
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