Stocks slip on inflation, geopolitical scares
July 6, 2021
Stocks on Monday ended lower amid inflation alarms and regional geopolitical concerns, traders said. The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Share Index lost 257.06 points or 0.54 percent to close at 47,429.12 points against 47,686.18 points recorded in the last session. The index tested a day high of 47,742.23 points and a low of 47,357.68 points.
Ahsan Mehanti, analyst at Arif Habib Corp, said stocks fell sharply on concerns over dismal data on CPI (consumer price indicators) inflation at 9.7 percent year-on-year in June, surge in trade deficit to $30.8 billion (up 33 percent for FY21), and security unrest in region.