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KSE-100 index fails to break bearish spell; declines 257 points

KSE-100 index fails to break bearish spell; declines 257 points Foreign investors were net sellers of $6.48 million July 6, 2021 Stocks extended bearish sentiments from the previous week at KSE-100 on Monday as investors treaded cautiously amid escalating tensions in the neighbouring Afghanistan and resurging Covid -19 in te country. The index posted a 257 points loss by the closing bell to clock at 47,429 level. On Monday, the trading activity resumed on a negative note, as the Index traded in a range of 366.55 points or 0.77 percent of previous close, showing an intraday high of 47,742.23 and a low of 47,375.68. Market sentiments were dampened as rising regional instability threatens to be inimical for Pakistan’s security and economic fabric. Sudden withdrawal of US forces from Afghanistan in absence of strategic pull-out raises security concerns for bordering nations as well higher risk of refugee exodus.

SBP appoints 13 banks as primary dealer of government securities for FY 21-22

SBP appoints 13 banks as primary dealer of government securities for FY 21-22 July 3, 2021 The State Bank of Pakistan appointed 13 banks as Primary Dealers (PDs) of government securities and two companies as Special Purpose Primary Dealers (SPDs) for Financial Year 2021-22. According to a circular issued by the Domestic Market and Monetary Management Department of SBP, after evaluation of received applications under the laid down criteria the central bank has selected 13 applicants for appointment as primary dealer while 2 other institutions were selected for the role of SPDs of government securities-PIB and MTB. Primary Dealers appointed for FY 2021-22 included Habib Bank Limited, Allied Bank Limited, Bank Al-Falah Limited, JS Bank Limited, National Bank of Pakistan, MCB Bank Limited, United Bank Limited, Pak Oman Investment Company Limited, Faysal Bank limited, Standard Chartered Bank (Pakistan) Limited, The Bank of Punjab, CitiBank N.A-Pakistan Operations and Industrial and Co

PSX wraps up FY21 with a 37% return

Daily Times July 1, 2021 Pakistan Stock Exchange (PSX) concluded fiscal year 2021 on wednesday, posting a 37 per cent return as compared to a paltry 1.5% in FY20. The index closed at 47,356 by gaining a mammoth 12,934 points during the fiscal year as against a minor gain of 520 points in FY20. However, on a monthly basis, the index posted a return of 0.5% in June’21. On Wednesday, however, the trading activity remained cautious in a range bound session as balancing of portfolio positions by institutional investors continued on the last day of the fiscal year 21. The trading kicked off on an upbeat note right after the opening bell, however, the earlier gains were pared briefly in the afternoon before strong investor sentiment triggered cherry-picking, which continued for the rest of the day, helping the market post moderate gains.

Success of RDAs attracts many countries to take guidance from SBP, says Murtaza Syed

Success of RDAs attracts many countries to take guidance from SBP, says Murtaza Syed
dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.

MSCI proposes downgrading PSX to Frontier Markets Index

MSCI proposes downgrading PSX to Frontier Markets Index
tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.

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