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Stocks fall on economic red flags

Stocks fall on economic red flags July 10, 2021 Stocks shed a good deal of gains made a day earlier as an anaemic economic outlook coupled with a global rout sent investors fleeing to safety, traders said. KSE-100 Share Index lost 489.72 points or 1.02 percent to close at 47,563.45 points at Pakistan Stock Exchange (PSX). The index oscillated between a high of 48,053.17 points and a low of 47,546.01 points. Ahsan Mehanti, analyst at Arif Habib Corp said the losses were led by scrips across the board on concerns over weak economic outlook. Weak global equities, rupee instability, uncertainty on EU GSP plus status on human right issues, concerns over non-disbursement of $400 million World Bank loan delayed because of weak IMF ties shook investor sentiment, Mehanti said.

Market watch: KSE-100 falls ahead of earnings season

Market watch: KSE-100 falls ahead of earnings season
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Stocks lose for third day as economic angst lingers

Stocks lose for third day as economic angst lingers July 8, 2021 Stocks on Wednesday lost for the third straight session as institutional investors continued to cut down their exposure on economic and geopolitical noise, traders said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 Share Index shed 98.24 points or 0.21 percent to close at 47,247.92 points, touching a day high of 47,375.67 points and a low of 47,034.64 points. Muhammad Arbash, analyst at Topline Securities said equities came under some selling pressure after trading in a narrow range. During the session, the market tested a low of 311 points as investors were concerned over high commodity prices, geopolitical concerns, and collection of CGT (Capital Gain Tax) for 11MFY21, he said.

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