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Stocks close higher tracking budget approval July 1, 2021 Stocks closed higher on Wednesday as approval of federal budget and World Bank loan for power sector reforms had positive impact on investor sentiments, traders said. The Pakistan Stock Exchange (PSX) benchmark KSE 100-shares index went up 0.46 percent or 218.25 points to close at 47,356.02 points, against 47,137.77 points recorded in the last session. Intraday high was 47,460.31 points, while the lowest level of the day was recorded at 47,137.77 points. Analyst Ahsan Mehanti at Arif Habib Corp said, “Stocks closed bullish at the year-end close as investors weighed higher global crude oil prices, National Assembly passing finance bill FY22, World Bank approval of $800 million for power sector reforms.” ....
Stocks snap losing streak in mixed trade thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Stocks tumble as institutions hedge bets June 29, 2021 Stocks took a major battering on Monday after institutions launched a position-squaring spree amid lukewarm sentiment owing to MSCI worries and FATF letdown, dealers said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 Shares Index lost 601.01 points or 1.26 percent to close at 47,002.35 points, hitting a day high of 47,659.19 points and a low of 46,900.26 points. Haris S Khan, an analyst at brokerage Topline Securities, said equities opened the week on a bearish note and came under selling pressure due to an outstanding futures position, June 2021 financial close, and concerns regarding the MSCI reclassification review. Moreover, the FATF (Financial Action Task Force) decision to keep Pakistan on the grey list and a current account deficit of $632 million further dampened investor sentiment at the bourse, Khan added. ....