KSE-100 Records The Biggest Two-Day Decline in History
Pakistan Stock Exchange continued its bearish trend owing to the impact of the coronavirus outbreak as investors were swamped by extreme uncertainty.
During the last two consecutive sessions, KSE-100 has declined by 3,444 (-9.55%) points which is the highest two-day decline in the history of Pakistan, stated an AHL report.
At the end of the day, the KSE-100 index fell by 3.17% or -1,068 points to close at 32,617. The market rose by 209 points to 33,894 points during the opening minutes of trading but failed to maintain upward momentum as it touched an intraday low of 1,268 points.
Source: Capital Stake Samiullah Tariq, Head of Research at Arif Habib Ltd said that the market is down as a consequence of a decline in regional markets, lower commodity prices, expected slow down in the global economy and negative impact arising from the outbreak of COVID-19.
After today’s session, KSE-100 saw a 20% decline in the ongoing year.
The market remained Yo-Yo in light of new virus cases emerg..