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Stocks rally on rupee clawback 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 on Wednesday were sucked deeper into the downward spiral owing to rupee tailspin with foreign as well as local exits remaining the order of the day, traders. ....
Stocks battered as mutual funds cut exposure 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.
KARACHI: The stock market snapped four-day losing streak on Thursday as the bulls appeared out of nowhere to toss the KSE-100 index up by 805 points, or 1.70 per cent, to close at 48,053 points. Traders and analysts fumbled for reasons to justify the massive rebound. Market participants attributed the sudden surge of investors’ interest in equities to the decline in oil prices in the international market; Chinese Foreign Ministry’s spokesperson Zhao Lijian positive talk at the Gwadar Port and the government having raised Rs146bn through the PIBs auction where yield remained unchanged. The developing situation in Afghanistan and the increase in Covid-19 cases for the first time in a week, were set aside. While those positives advanced by market gurus were convincing in varying degrees, the one major reason was the massive buying by mutual funds of stocks worth $12.7m. A fund manager said that “a leading state-owned pension fund” had invested huge idle sums in mutual ....
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. ....