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KSE-100: Directionless trade weighs on stocks; index dips 116 points

KSE-100: Directionless trade weighs on stocks; index dips 116 points
Market capital decreases by Rs 21bn
July 13, 2021
Directionlessness played on the market sentiments on Monday, as the KSE-100 index kicked off the first trading session of the week on a bearish note, with contracting market volumes.
The index clocked at 47,447 level after posting 116 points loss, as it traded in a range of 306.76 points or 0.64 percent of previous close, showing an intraday high of 47,715.28 and a low of 47,408.52.
The market witnessed choppy behavior, owing to a surge in Covid positivity ratio as it crossed 3.9% which risks a fresh round of lockdown being imposed by the government. Moreover,rising uncertainty in the Afghanistan region where the Taliban claim to control 85% of the territory which also took a toll on investors’ sentiment. ....

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PSX wraps up FY21 with a 37% return

Daily Times
July 1, 2021
Pakistan Stock Exchange (PSX) concluded fiscal year 2021 on wednesday, posting a 37 per cent return as compared to a paltry 1.5% in FY20.
The index closed at 47,356 by gaining a mammoth 12,934 points during the fiscal year as against a minor gain of 520 points in FY20. However, on a monthly basis, the index posted a return of 0.5% in June’21.
On Wednesday, however, the trading activity remained cautious in a range bound session as balancing of portfolio positions by institutional investors continued on the last day of the fiscal year 21.
The trading kicked off on an upbeat note right after the opening bell, however, the earlier gains were pared briefly in the afternoon before strong investor sentiment triggered cherry-picking, which continued for the rest of the day, helping the market post moderate gains. ....

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KSE-100 index falls flat in directionless trade

KSE-100 index falls flat in directionless trade
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Stocks snap four-week rally - Newspaper

The four-week rally at the stock market was snapped in the outgoing shortened four-session week as the KSE-100 index lost 324 points, or 0.74 per cent, to close at 43,417. AFP/File
KARACHI: The four-week rally at the stock market was snapped in the outgoing shortened four-session week as the KSE-100 index lost 324 points, or 0.74 per cent, to close at 43,417.
The index tumbled by 834 points in the first two days of the week. The trading was led by the news flow on the Covid-19.
The market lost 406 points on the first day of the week as a new and more contagious strain of coronavirus was detected in the UK, leading to lockdowns and shutdowns. As the countries fearful of import of virus from the European countries put a halt to flight to and from the UK, the fear led to slump in global equities and commodities. ....

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