KSE-100 Index shed 151 points over renewed Covid concerns

KSE-100 Index shed 151 points over renewed Covid concerns

KSE-100 Index shed 151 points over renewed Covid concerns

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KARACHI: The Pakistan equity market closed in the red zone, amid rising Covid-19 pandemic cases across the world.

Surging twin deficits and uncertainty over the outcome of the upcoming International Monetary Fund (IMF) Board review for the release of the Extended Fund Facility (EFF) tranche worth over $1 billion played a catalytic role in the bearish trend at the market, analysts said.

The Pakistan Stock Exchange KSE-100 shares Index shed 0.33 per cent, or 151.25 points, to close at 45,612.2 points. The KSE-30 shares Index shed 0.31 per cent, or 56.35 points, to close at 17,942.16 points.

As many as 336 scrips were active, of which 102 advanced, 218 declined and 16 remained unchanged. The ready market volumes stood at 173.49 million shares, compared with the turnover of 239.98 million shares in the last trading session.

The companies, which reflected the highest gains included Sapphire Textile, up Rs55.96 to close at Rs1,050/share; and Mehmood Textiles, up Rs44.25 to close at Rs634.29/share.

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The companies that reflected the most losses included Nestle Pakistan, down Rs114.25 to close at Rs5,410/share; and Bata (Pak) XD down Rs70.10 to close at Rs2,099/share.

The highest volumes were witnessed in WorldCall Telecom with a turnover of 25.49 million shares. The scrip shed 10 paisas to close at Rs2.37/share; followed by TRG Pakistan Ltd with a turnover of 20.07 million shares, shedding Rs7.80 to close at Rs96.45/share. Cnergyico Pk remained the third with a turnover of 12.90 million shares, as it shed 21 paisas to finish at Rs6.95/share.

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