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Virus wrecks stocks in third wave havoc

Virus wrecks stocks in third wave havoc Business April 6, 2021 Stocks collapsed on Monday as a worsening virus crisis spooked investors into squaring their positions before the lockdowns turned ugly, dealers said, adding economic situation also weighed. Topline Securities in a note said equities opened the week on a bearish note with the KSE-100 Shares Index closing at 43,548, after losing 1.70 or 752.74 points at the Pakistan Stock Exchange (PSX). Concerns over the third wave of Covid coupled with a higher trade deficit dampened investor sentiment at the bourse, the brokerage said. Topline report said the major laggards in today’s session were namely TRG, SYS, HBL, LUCK, and UBL that cumulatively dragged the benchmark index lower by nearly 255 points.

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