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Coronavirus threat: PSX loses 1,002 points

Coronavirus threat: PSX loses 1,002 points

KARACHI: The bench mark 100-index of the Pakistan Stock Exchange (PSX) on Thursday plunged 1,002 points at the start of the trading day, amid novel coronavirus threat, ARY News reported.

The market continued to show bearish trend due to increasing threat of coronavirus outbreak and specially after detection of two cases in Pakistan, yesterday. The market is currently trading at the level of 37,336 points.

Yesterday, the index which lost 667 points during the trading recovered bit and was closed at 38,338. points.

A total of 147,943,160 shares were traded compared to the trade 124,348,120 shares during the previous day, whereas the value of shares traded during the day stood at 6.955 billion as compared to Rs 5.959 billion during last trading day.

It may be noted that the Pakistan Stock Exchange had lost as many as 1,178 points in first two days of the current trading week. On Tuesday the index had lost 359 points and on Monday the index shed 819.55 points.

More than 2700 people have died in China due to coronavirus, deaths have been reported from France, Italy, United States and now from Iran and Afghanistan.

Asian markets were mixed Tuesday as bargain-buying after the previous day’s bloodbath tempered fears that the coronavirus will develop into a pandemic and hammer the global economy.