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Murtaza Wahab replaces Laeeq Ahmed as KMC administrator

Murtaza Wahab replaces Laeeq Ahmed as KMC administrator
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KSE-100: Karachi lockdown dents investors sentiments; index slumps 257 points

Index, which opened on positive note, was gutted by news of the lockdown July 31, 2021 Fresh rounds of Covid lockdown imposed in Pakistan’s business centre, Karachi, sent shockwaves among investors on Friday as the benchmark KSE-100 index lost 257 points by the closing bell and clocked at 47,055 level. On Friday the index opened on a positive note and showed strength as investors looked for direction, however, following the news of lockdown, the investors panicked and booked profit. The Sindh government on Friday decided to impose a lockdown in the province from today (Saturday) till August 8 amid rising Covid-19 cases. The decision was taken during a provincial coronavirus task force meeting presided over by Sindh Chief Minister Murad Ali Shah.

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