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Jahangir Siddiqui & Co Seek SBP s Approval For Exchange of Shares With JS Bank
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JS Bank Gets Nod to Acquire Additional 7 7% Stake in BankIslami
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Market watch: Stocks shed 204 points on global oil price rout
Benchmark KSE-100 index drops 0.44% to settle at 45,726.68
Shares of 405 companies were traded. At the end of the day, 187 stocks closed higher. PHOTO: FILE
KARACHI:
Bears once again dominated trading at the stock market on Monday as selling pressure due to uncertainty about oil prices in the international market weighed on oil sector stocks.
Domestic oil stocks bore the brunt of mixed international crude prices as a better-than-expected quarterly rebound for China’s economy countered fears over soaring Covid-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption. Most of the oil-related stocks at the local bourse lost ground.