Many hoped that yesterday’s rally in the market which was inspired mainly due to vaccine news and oil prices surge will continue in the coming days. On the contrary, it was a slow day as KSE-100 index managed to creep up just 44 points to end the day at 41,197.
At one point index went up by 153 points attaining an intra-day high of 41,330 and a low of 40,900.
Investors were concerned about the rising COVID-19 cases in the country. Also, the tightening of restrictions by the National Command and Control Centre (NCOC) also contributed it.
Shares advanced Wednesday in Asia after a worldwide rally spurred by hopes that a COVID-19 vaccine will help the global economy return to normal.
Benchmarks rose in Tokyo, Hong Kong, Seoul and Sydney but fell in Shanghai after new Chinese regulations focused on technology companies prompted selling in that sector.
UNITY dipped – 0.17 ; BIPL + 0.95 ; TRG + 1.55 ; KEL – 0.12 ; ASC -0.4
Many risks remain, and the biggest may be whether investors have become too convinced about a potential COVID-19 vaccine.