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Stocks surge amid easing political fears
Business
December 15, 2020
Stocks on Monday crossed 43,000 points after almost 11 months, drawing strength from an apparently weakening anti-government protest movement, with cyclical sectors hitting the limelight after posting double-digit sales growth, hinting at a recovering economy, dealers said.
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index gained 1.87 percent or 795.82 points to close at 43,266.22 points, while volumes swelled to 629.525 million shares, as compared with 557.610 million in the previous session. KSE-30 followed the suit with a high of 2.02 percent or 358.52 points to end at 18,088.67 points.
Tahir Abbas, director research at Arif Habib Limited, said the market surged after some clarity on the political front eased investor concerns as last week the opposition lawmakers seemed adamant on tendering resignations in a bid to mount pressure on the government.
New Delhi |
India attended the BRICS summit while skipping RCEP. (ANI)
Written by S Shaji
Though the US presidential elections dominated the debates in international relations in November, three other events invited attention. These pertained to multilateral economic groupings. The first was the virtual summit meeting of Shanghai Cooperation Organisation (SCO) on November 10, which India attended. Second, the Brazil–Russia-India-China-South Africa (BRICS) summit meeting (November 17) chaired by Russia and, the third, the signing of Regional Comprehensive Economic Partnership (RCEP) on November 15. India attended the BRICS summit while skipping RCEP. These events came into sharp focus primarily due to Indian and Chinese involvement (or non-involvement) in the backdrop of the stand-off involving the two countries in the Himalayas.