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Stocks weaken as economic worries weigh
July 7, 2021
Stocks weakened on Tuesday on economic worries, while a notice for collection of capital gains tax (CGT) for 11MFY21 period also dampened the sentiment, dealers said.
The benchmark KSE-100 Share Index shed 82.96 points or 0.17 percent to close at 47,346.16 points, while it hit a day high of 47,662.68 points and a low of 47,244.93 points.
Ahsan Mehanti, senior analyst at Arif Habib Corp said pressure remained at PSX amid economic uncertainty amid surging trade deficit and government debt.
Political noise, regional security uncertainty and rupee instability kept the stocks in a subdued mode, Mehanti added.
Tracking the benchmark, KSE-30 Shares Index edged down by 12.05 points or 0.06 percent to end at 19,004.84.