Market recovers 90% of fresh COVID-19 wave losses | Daily News


 

Market recovers 90% of fresh COVID-19 wave losses

The weekly market closed in green recovering almost 90% of fresh COVID-19 wave losses amidst heavy retail activities.

Turnover continued to be led by the Materials counters followed by Transportation and Capital Goods counters making a joint contribution of 54%. Index experienced a downtrend during the early hour of trading as it hit its intraday low of 5,898. Later the market recorded a continuous upwards movement and closed at 5,946 with an advance of 26 points. Market recorded low foreign participation edged by the selling-side resulting in a net outflow.

Wrapping up the week, the secondary market witnessed continued buying interest in selected maturities while mixed activity was seen on the belly end of the curve amidst overall market witnessing moderate volumes.

Mixed activity was seen on 15.09.24 in the range of 6.03%-6.10% levels while 01.08.26 traded in the range of 6.70%-6.55% levels. Investor interest was seen on short tenor maturities 15.07.23 and 01.09.23 trading at 5.75%-5.65% levels, in addition, 01.02.26 traded at 6.58%-6.50% levels, 15.08.27 and 15.10.27 traded in the range of 6.85%-6.88% levels.