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July 29, 2021 Stocks slumped on Wednesday as a monetary policy status quo rally was reversed by renewed scares of economic restrictions as the new Covid variants were reported on the rise in the country, traders said. Pakistan Stock Exchange's (PSX) benchmark KSE-100 Share Index lost 368.96 points or 0.77 percent to close at 47,318.03 points printing a day high of 47,874.69 points and a low of 47,244.21 points. Muhammad Arbash, an analyst at Topline Securities, said the day opened on a positive note as central kept the policy rate unchanged. However, in the second half the market witnessed p...

PSX flat ahead of monetary policy huddle July 28, 2021 Stocks were muted on Tuesday amid shifting risk appetite as noncommittal investors booked profits ahead of the central bank’s monetary policy meeting later in the evening, traders said. Pakistan Stock Exchange's (PSX) benchmark KSE-100 Share Index closed just 14.31 points or 0.03 percent higher at 47,686.99, touching a day high of 47,910.12 points and 47,631.56 points. Ahsan Mehanti, an analyst at Arif Habib Corp, said, stocks showed recovery amid thin trade on speculations ahead of SBP policy announcement today. Mid-session pressu...

Stocks open rollover week in red July 27, 2021 Stocks were off to a strong start on Monday led by select names, but were later pulled down by others as rollover week has kicked in amid economic jitters, traders said. Pakistan Stock Exchange's (PSX) benchmark KSE-100 Shares Index shed 120.39 points or 0.25 percent to close at 47,672.68 points, testing a day high of 47,930.85 points and a low of 47,608.79 points. Zafar Moti, former director PSX, said the market exuded optimism in the day as the opening was good because of PTI’s winning the Kashmir election. However, he said, traders thought...

Stocks sluggish as investors stick to sidelines July 16, 2021 Stocks on Thursday started with a sideways drift but later made some gains that were capped by late profit-booking ahead of eid holidays, traders said. Pakistan Stock Exchange's (PSX) benchmark KSE-100 Shares Index could only manage to gain 136.79 points or 0.29 percent to close at 47,628.26 points, while it tested a day high of 47,736.13 points and a low of 47,388.55 points. Zafar Moti, former director PSX, said the market kept going up and down during the session. “The market remained directionless ahead of last working day o...

PSX plateau persists on virus, regional risks July 15, 2021 Stocks continued to crawl along the flatline on Wednesday as smart Covid lockdowns and geopolitical risks muted earnings’ excitement, traders said. Pakistan Stock Exchange's (PSX) KSE-100 Share Index gained just 10.97 points or 0.02 percent to close at 47,491.47 points, touching an intraday high of 47,595.72 points and a low of 47,443.88 points. Muhammad Arbash, analyst at Topline Securities, said, investor interest was witnessed in textile sector, where NML, NCL, GATM, and GADT emerged as major gainers; however, on the flip s...