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Stocks extend losses as investors play safe 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.
Business April 28, 2021 Stocks fell on Tuesday as profit-taking followed an institutional cash injection a day earlier, with most of players remaining noncommittal as stricter virus curbs loom large, dealers said. KSE-100 Shares Index, the benchmark of Pakistan Stock Exchange’s (PSX), suffered a loss of 0.68 percent or 210.73 points to close at 45,292.87 points. Volumes eased to 366 million shares from 409.08 million in the last trading session. Topline Securities in its daily market review said the index witnessed a volatile session, printing an intraday high of 45,937 (up 0.56 percent) and an intra-day low of 45,170 (down 1.12 percent). Fears of COVID related lockdown came to haunt the market again after the Sindh Government decided to ban intercity transport and close educational institutes while the ongoing futures rollover week also added extra pressure, the brokerage said. ....
Stocks rebound on institutional buying binge Business April 27, 2021 Stocks on Monday surged from last week’s virus-led lows as institutions lifted heavyweights, with sentimental support coming from a downtick in new infections over the weekend, dealers said. Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 2.18 percent or 976.01 points to close at 45,682.77 points. Volumes ballooned to 409.08 million shares from 240.48 million in the last trading session. An analyst at Pearl Securities said despite the prevailing uncertainty regarding Covid cases and the related lock-down, stocks started the rollover week on a positive note primarily supported by the index heavyweights. “Market rumors suggest heavy buying from a big pension fund and a likely rate cut to counter the negative impact on coronavirus,” the analyst added. ....
Third wave remains key threat to market Business April 25, 2021 The capital market started the week negatively due to the perturbing political situation last weekend, though some relief was experienced on account of robust result announcements later, rising Covid-19 cases quashed the positivity with threats of third wave still persistent. The KSE-100 benchmark shares index shed 1.32 percent or 598.87 points to close the week at 44,706.76 points. KSE-30 shares index shed 1.4 percent or 261.31 points to close at 18,276.47 points. Ahmed Lakhani at JS Global Capital said the KSE-100 index closed down 1.3 percent with almost similar participation as seen last week. “While political noise slightly subsided this week, the increasing Covid cases kept investors cautious of fresh buying, as the government warned for amplified steps, including lockdowns, to control the spread of the virus.” ....
Third wave remains key threat to market 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.