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Market watch: Inflation hike dents investor interest at PSX


Market watch: Inflation hike dents investor interest at PSX
Benchmark KSE-100 index drops 186.15 points to close at 44,076.20
PHOTO: AFP
KARACHI:
Bear maintained a firm grip over the Pakistan Stock Exchange on Monday, in line with the performance during the last futures rollover week, as soaring inflation fuelled selling pressure across the board ahead of upcoming prolonged holidays.
According to data announced by the Pakistan Bureau of Statistics, the inflation reading skyrocketed to 11.1% in April.
Moreover, the benchmark KSE-100 index maintained the downtrend due to news that the government had decided to close all businesses during 10-day long Eidul Fitr holidays, which forced investors to trade cautiously as they avoided taking fresh positions. ....

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KSE-100: Covid fears weigh down index by 93 points


KSE-100: Covid fears weigh down index by 93 points
April 22, 2021
Investors treaded cautiously at Pakistan Stock Exchange (PSX) on Wednesday, as overall lack of positive triggers, and rising Covid fears restrained the index and resulted in range-bound trading.
On Wednesday, the benchmark KSE-100 opened on a bullish note and touched intra-day high at 45,626.88 level after gaining 227.1 points. However, paring early gains the index reversed its trajectory and clocked at 45,306.54 level by the closing bell after posting a 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 Wednesday 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. ....

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