KARACHI: Pakistan’s Stock Exchange (PSX) remained under a bearish spell, as the country reported a record single-day surge in COVID-19 infection. Investors continued to lighten the portfolio for the second day in a row to enter feared lockdowns and curbs on business activities across the country.

The Karachi Share Index (KSE-100) lost 233.75 points (0.52 percent) after closing at 45,059.12 points, against the previous closing of 45,292.87 points. The market went as high as 45,589.26 points during intraday trading, while recording as low as 45,024.28 points.

Trading volume declined to 305.7million shares today, as compared to 366.8m traded in the previous session, according to PSX’s website data. The daily traded value declined to Rs16.16billion from Rs17.32bn in the previous session, the data said.

In the last 24 hours, Pakistan recorded 201 COVID-19 deaths, its highest single-day death toll since the start of the pandemic, this is the highest single day tally since the start of the pandemic. The positivity rate reached 10.77 percent, according to the National Command and Control Centre (NCOC).

The author is a senior business and economy journalist . He has worked for leading local and international news organisations.

LEAVE A REPLY

Please enter your comment!
Please enter your name here