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Stocks lose for third day as economic angst lingers


Stocks lose for third day as economic angst lingers
July 8, 2021
Stocks on Wednesday lost for the third straight session as institutional investors continued to cut down their exposure on economic and geopolitical noise, traders said.
Pakistan Stock Exchange s (PSX) benchmark KSE-100 Share Index shed 98.24 points or 0.21 percent to close at 47,247.92 points, touching a day high of 47,375.67 points and a low of 47,034.64 points.
Muhammad Arbash, analyst at Topline Securities said equities came under some selling pressure after trading in a narrow range.
During the session, the market tested a low of 311 points as investors were concerned over high commodity prices, geopolitical concerns, and collection of CGT (Capital Gain Tax) for 11MFY21, he said. ....

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