Index, which opened on positive note, was gutted by news of the lockdown
July 31, 2021
Fresh rounds of Covid lockdown imposed in Pakistan’s business centre, Karachi, sent shockwaves among investors on Friday as the benchmark KSE-100 index lost 257 points by the closing bell and clocked at 47,055 level.
On Friday the index opened on a positive note and showed strength as investors looked for direction, however, following the news of lockdown, the investors panicked and booked profit.
The Sindh government on Friday decided to impose a lockdown in the province from today (Saturday) till August 8 amid rising Covid-19 cases.
The decision was taken during a provincial coronavirus task force meeting presided over by Sindh Chief Minister Murad Ali Shah.
Petrol price raised as stocks plummet - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
KSE-100 index closes flat despite late recovery Volume at KSE-100 slightly rose from 128 million shares recorded in the previous session to 156 million shares
July 30, 2021
Stocks staged a sharp recovery at Pakistan Stock Exchange (PSX), paring almost all of the intraday losses by the closing bell on Thursday as investors reacted to series of positive news flow during the day. However, the index still closed in red, posting a loss of five points and clocked at 47,312 level.
On Thursday the index opened on a negative note where it lost 363 points on the concerns that the government is mulling over strict measures including imposing a lockdown as Covid positivity ratio has reached 30pc in the business hub of the country – Karachi.
Stocks unchanged as tough virus curbs mulled
July 30, 2021
Stocks bit the dust in early trade on Thursday, but fought back to end almost unchanged as tough Covid curbs are being mulled, traders said.
Pakistan Stock Exchange s (PSX) benchmark KSE-100 Share Index lost 5.70 points or 0.01 percent to close at 47,312.33 points, testing a day high of 47,374.57 points and a low of 46,955.09 points.
Ahsan Mehanti, analyst at Arif Habib Corp, said stocks closed lower on investor concerns over the economic impact of the fresh Covid surge and frail global equities.
Mid Session support came from surging global crude oil prices, strong financial results in the fertiliser sector and robust earnings outlook for auto, oil, and cement sectors, he said. Rupee instability and worries over surging trade deficit muted the trade, Mehanti said.
Market watch: Stocks falter amid fresh Covid restrictions 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.