KSE-100: Early CGT collection-call triggers selling pressure; index down 98 points July 8, 2021 Bears mounted pressure on the benchmark KSE-100 index for the fourth consecutive session as market sentiments were weighed by the collection of capital gain tax, high commodity prices besides geopolitical conditions. On Wednesday, the KSE-100 index clocked at 47,247 level after posting about 98 points loss by the closing bell. The trading activity resumed on a negative note, as the Index traded in a range of 341.03 points or 0.72 percent of the previous close, showing an intraday high of 47,375.67 and a low of 47,034.64. Irfan Saeed, Senior Vice President, BMA Capital Management limited said that the index opened the session and lost over 311 points owing to selling spell, which was primarily triggered by brokers and individuals, since the National Clearing Company of Pakistan limited (NCCPL) has announced to collect CGT on the data till May 2021, which has taken Market participants by surprise, inflating their payable, since as a lot of Investors have been booking losses in June to net off gains. Moreover, higher international oil prices weighed on inflation expectations, while resurgence of Covid-19 virus cases played on investors’ minds, dragging the market down because the reintroduction of curbs would deal a significant blow to the recovering economy. Market sentiments also continue to dwindle over rising regional instability owing to sudden withdrawal of US forces from Afghanistan in absence of strategic pull-out, which has raised security concerns for bordering nations as well as higher risk of refugee exodus in Pakistan. The market capital decreased by Rs.32.48 billion, while total value traded decreased by 2.64 billion to Rs.14.97 billion.