KSE-100: Selling pressure continues owing to pending futures open positions; index lost 186 points
May 4, 2021
Stocks at Pakistan Stock Exchange (PSX) were hammered on the first trading day of the week as the index continued to lose ground to selling pressure over rising political uncertainty and negative economic indicators.
However, pending futures open positions led to additional selling pressure on Monday. Irfan Saeed, Senior Vice president, BMA Capital Management Limited, said open positions on the last trading of the roll-over week stood at a gargantuan Rs.31 billion, and since Friday’s trading hours were cut short, investors were unable to square their positions. This situation led to heavy offloading of the equities on Monday, he noted.
UBL full-year profit rises 9 3pc to Rs20 78 billion
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
UBL full-year profit rises 9 3pc to Rs20 78 billion
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.