KSE-100: Covid lockdown fear extends losses; index plunges 376 points
April 23, 2021
Stocks extended their losses for the second day at Pakistan Stock Exchange (PSX) on Thursday, as rising fear over fresh rounds of Covid lockdown restrained the index.
On Thursday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,496.82 level after gaining 190.28 points. However, paring early gains the index reversed its trajectory and clocked at 45,929.61 index level by the closing bell after posting a 376.93 points loss.
During the session the market was gripped with fears of rising Covid cases, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar on issued a warning and said that if the coronavirus situation continues to worsen in the country, the government will be compelled to impose more restrictions, which dampened investors’ confidence.