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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,777
1024hr
Pakistan Cases
1,287,161
33624hr
0.78% positivity
Sindh
476,830
Punjab
443,519
Balochistan
33,507
Islamabad
107,930
KPK
180,383

Extending losses, stocks closed yet another session deep in the red with the benchmark KSE-100 Index falling 585 points on Wednesday.

Volumes and value of shares traded inched up after the index saw a volatile ride during the session, swinging wildly on both sides.

A negative start was followed by recovery, before the index swung back into the red as investors opted to book intra-day profits.

At close on Wednesday, the KSE-100 Index ended with a sharp fall of 584.82 points or 1.30% to settle at 44,363.70. Cumulatively, the index has shed nearly 4.6% in the last three sessions.

“Investors remained varied over monetary tightening and ambiguity over the International Monetary Fund (IMF), which led the market to open sideways,” said Topline Securities in its post market comment.

KSE-100 suffers 1.74% fall, finishes below 45,000

On the economic front, the government said it will present a ‘mini budget’ next week as revealed by Advisor to PM on Finance and Revenue Shaukat Tarin.

Meanwhile, Minister for Power Hammad Azhar said that the government is in touch with petroleum dealers' association over the margins' issue.

“A summary regarding revision of their margins has already been tabled in ECC and a decision will be taken in its next session,” tweeted Azhar.

Sectors painting the benchmark red included banking (156.96 points), fertiliser (120.99 points) and cement (110.92 points).

Meanwhile, volumes on the all-share index increased, clocking in at 310.38 million, up from 264.61 million recorded on Tuesday. The value of shares traded improved significantly, amounting to Rs12.95 billion, down from Rs9.73 billion on Tuesday.

TRG Pakistan Limited was the volume leader with 26.52 million shares, followed by WorldCall Telecom with 24.68 million shares, and TPL Properties XB at 24.08 million shares.

Shares of 341 companies were traded on Wednesday, of which 76 registered an increase, 245 recorded a fall, and 20 remained unchanged.

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Jawed Saleem Nov 24, 2021 08:43pm
Stock markets are forward looking, a leading indicator of economy. Financial markets are extremely sensitive and prone to uncertainties. Psx is hostage to weakening economy...macro indicators. Inflation, devaluation, interest rates hike, widening cad, depleting reserves, higher power tariffs, taxes, revenues etc. Market doesn't like events in near future. Expectations are everything in markets. Investors will have to wait for economy to recover. No one is going to Bahamas.
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Wahid Nov 25, 2021 08:44am
Its use full but u near to provide latest news on economy and business related to psx earlier with details
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