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Market watch: Stocks rally on positive economic indicators
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New Covid wave drags PSX down
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KSE-100: Covid lockdown fear extends losses; index plunges 376 points
April 23, 2021
Stocks extended their losses for the second day at Pakistan Stock Exchange (PSX) on Thursday, as rising fear over fresh rounds of Covid lockdown restrained the index.
On Thursday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,496.82 level after gaining 190.28 points. However, paring early gains the index reversed its trajectory and clocked at 45,929.61 index level by the closing bell after posting a 376.93 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 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.
Top Story
April 23, 2021
LAHORE: A full bench of the Lahore High Court on Thursday granted post-arrest bail to Leader of the Opposition in National Assembly Shahbaz Sharif in a money-laundering reference.
Justice Ali Baqar Najafi, who headed the bench, announced a short order in the open court. Justice Aalia Neelum and Justice Syed Shahbaz Ali Rizvi were the other members of the bench.
âFor the reasons to be recorded later and with the consensus, we grant the petitioner post-arrest bail subject to his furnishing bail bonds worth Rs5 million with two sureties each to the satisfaction of the learned trial court,â read a copy of the short order signed by all the three judges.