Pakistan Stock Exchange remained volatile, shedding ~2% in value during the month of October-2020 to close in ~39,900 as the fears of the second wave of COVID-19 dented sentiments.
Benchmark KSE100 further loses 950 points in early trades on Monday (2-Nov-2020) as Investors sentiment dampens on concerns of Resurgence of COVID19.
Market participation, as reflected by average daily volumes, also dropped significantly by 25%MoM to 265.5mn during Oct’20 as an increasing number of COVID-19 cases in the country raised expectations of 2nd COVID-19 wave.
Pakistani Stock Market is likely to take a cue from various factors where the sentiments will be shaped by COVID-19 resurgence and its resultant impact on economies, FATF plenary outcome and political noise amidst a consolidating macro backdrop.
As far as COVID related Lock down is concerned, Government would prefer smart/micro lock-downs, restricting non-essential activities instead of completely disrupting business activities in the country.
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