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Inflation, covid cases put check on market activity
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Market watch: IMF loan approval helps KSE-100 ascend
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Business
March 17, 2021
Stocks ended flat in choppy trade on Tuesday with index oscillating between positive and negative territories throughout the trading session, as investors paused after a rally that continued for two days, dealers said.
An analyst at Pearl Securities said investors were divided over the upcoming PDM strategy to pressurise the government. “Also, the oil and gas sector came under selling pressure due to the decrease in international oil prices. Meanwhile, the rising Covid positivity ratio also triggered profit-taking at higher levels.”
Pakistan Stock Exchange (PSX) benchmark KSE-100 shares index gained 0.2 percent or 90.47 points to close at 44,857.06 points level. KSE-30 shares index gained 0.31 percent or 58.49 points to close at 18,628.02 points level.
Market watch: Winning streak continues for 4th straight session
Benchmark KSE-100 index climbs 593.25 points to settle at 45,450.31
KARACHI:
The Pakistan Stock Exchange (PSX) extended its rally for the fourth straight day on Wednesday with the benchmark KSE-100 index adding another 593 points to the total level.
The market kicked off trading on a positive note and remained bullish for most of the day as the index touched intra-day high of 683 points. The index roared past the 45,000-point mark in the first hour of trading.
The decision taken by the opposition alliance – the Pakistan Democratic Movement (PDM) – to postpone its long march planned for later this month provided a positive trigger to the market.
Market watch: KSE-100 posts modest gains in choppy trade
Benchmark index advances 90.47 points to settle at 44,857.06
PHOTO: AFP
KARACHI:
The stock market extended gains on Tuesday as the benchmark KSE-100 index posted a modest rise, finishing its third successive session in the green.
Trading remained choppy for the entire day where the index rose to intra-day high of 144 points. Investors welcomed the growth in large-scale manufacturing sector, which grew 7.9% in the first seven months of current fiscal year.
Moreover, expectations about the monetary policy announcement by the State Bank of Pakistan (SBP) on Friday (March 19) kept the investment climate positive.
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