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Stocks continue losing streak for third day - Newspaper


The bearish spell entered its third day on the stock market on Friday amid intensified selling pressure ahead of an NCOC meeting. AFP/File
KARACHI: The bearish spell entered its third day on the stock market on Friday amid intensified selling pressure ahead of an NCOC meeting which later in the day announced measures to check the spread of the third wave of Covid-19.
The benchmark KSE-100 index made an intraday low of 566 points at 44,363, but the mid-session buying hel­ped it recover partially closing the day with a loss of 223 points, or 0.5 per cent, at 44,706.76.
Arif Habib Ltd in its report said the market declined further again in anticipation of a lockdown at the national level that caused investors to adopt a cautious approach and avoid taking new positions. ....

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Habib Metro Bank's Profit Doubles in Q1


Habib Metro Bank’s Profit Doubles in Q1
Habib Metro Bank geared up its financial performance from the last year with a record profit growth of 103 percent year-on-year in the first quarter of the calendar year 2021.
According to the financial results, the bank had made a handsome profit of Rs. 3.32 billion in the period of January to March 2021, as compared to a profit of Rs. 1.63 billion generated last year during the corresponding period.
It outperformed the competing banks in the outgoing year of 2020, making its ranking in the top ten profitable banks in Pakistan for the first time, and left behind its competing banks, including Askari Bank, Faysal Bank, and the Bank of Punjab, to become the ninth most profitable bank in the country. ....

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