Rs. 383 Billion Wiped Off from PSX in Worst Day in History
Stocks around the world, have been in a free-fall for some time now due to worries about the impact of the coronavirus outbreak on the global economy. Pakistan wasn’t safe either as another massacre was seen during the first day of the week with last week’s negative sentiment continuing into this week.
PSX’s benchmark index, KSE-100 index declined by 2375 points in today’s session which was the highest ever decline in history in terms of points. It touched an intraday low of 2,442 points on Monday.
The market closed at 33,664 points, declining 6.59%, which is the highest decline in percentage terms since 20th May 2002, according to Arif Habib Ltd.
Over Rs. 383 billion was wiped off from the market during today’s session, according to Capital Stake.
Shortly after the stock market opened Monday, the market went in the red zone. For the fourth time in six working days, trading was halted at the Pakistan Stock Exchange after the KSE-30 index fell by more than 5%.
The activity was halt..