Third wave remains key threat to market
Business
April 25, 2021
The capital market started the week negatively due to the perturbing political situation last weekend, though some relief was experienced on account of robust result announcements later, rising Covid-19 cases quashed the positivity with threats of third wave still persistent.
The KSE-100 benchmark shares index shed 1.32 percent or 598.87 points to close the week at 44,706.76 points. KSE-30 shares index shed 1.4 percent or 261.31 points to close at 18,276.47 points.
Ahmed Lakhani at JS Global Capital said the KSE-100 index closed down 1.3 percent with almost similar participation as seen last week.
“While political noise slightly subsided this week, the increasing Covid cases kept investors cautious of fresh buying, as the government warned for amplified steps, including lockdowns, to control the spread of the virus.”