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PSX flat ahead of monetary policy huddle
July 28, 2021
Stocks were muted on Tuesday amid shifting risk appetite as noncommittal investors booked profits ahead of the central bankâs monetary policy meeting later in the evening, traders said.
Pakistan Stock Exchange s (PSX) benchmark KSE-100 Share Index closed just 14.31 points or 0.03 percent higher at 47,686.99, touching a day high of 47,910.12 points and 47,631.56 points.
Ahsan Mehanti, an analyst at Arif Habib Corp, said, stocks showed recovery amid thin trade on speculations ahead of SBP policy announcement today.
Mid-session pressure seen owing to falling Asian equities and concerns over reports of Rs473 billion GIDC (gas infrastructure development cess) recoverable from industrials.
Stocks retreat on new virus variant frets
July 13, 2021
Stocks on Monday remained in retreat amid noise over surge of a new Covid variant and regional unrest ahead of long Eid holidays next week, traders said.
Pakistan Stock Exchange s (PSX) benchmark KSE 100-share Index gave up 116.37 points or 0.24 percent to close at 47,447.08 points, hitting a day high and a low of 47,715.28 points and 47,408.52 points, respectively.
Zafar Moti, former director PSX, said the market had slowed down and volumes were shrinking. “People are downsizing themselves because of the Sacrificial Eid. Afghanistan issue and political noise was also there.”
“Next week is off and the market is unlikely to gather any momentum this week and may remain directionless until Eid holidays are over,” Moti said.