With the sudden invasion of crossover SUVs in Pakistan, sedans are starting to become a rare breed. And if we talk about the mid-size sedans, they are rarer still, due to their high prices. Hyundai Nishat most probably already knows this, yet still, as per a recent update shared by Pakwheels.com, the company is planning…
Another bloodbath was witnessed at the Pakistan Stock Exchange in a single week as the stocks took a hammering after the World Health Organisation declared the coronavirus a pandemic.
Adnan Sami Sheikh, AVP research at Pak Kuwait Investment Company noted that Coronavirus fears and plunging oil prices led to the largest single-day decline since July 2017.
Saad Hashemy, Executive Director BMA Capital said,
At the end of the day, the benchmark KSE-100 index was closed 1,716 points or 4.77 percent down to settle at 35,956 points. This was primarily due to the spread of Coronavirus around the world and drastic measures like barring of flights by the US from Europe. Resultantly, oil also fell 5-6%.
He noted that both of the above-mentioned reasons led to the fall in the market today.
Source: Capital Stake The market saw an intra-day low of 1778 points on Thursday.
Globally, financial markets reeled as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step..