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PSX witnesses bearish trend, loses 93 points

PSX witnesses bearish trend, loses 93 points

KARACHI: Pakistan Stock Exchange (PSX) on Monday witnesses bearish trend as KSE-100 index closed at 42539 points with a negative change of 93 points.

A total of 198,479,790 shares were traded, whereas the value of shares traded during the day stood at Rs6.566 billion as compared to Rs 6.726 billion during last trading day.

Total 350 companies’ transacted shares in the Stock Market on Monday, out of which 166 recorded gain and 169 sustained losses whereas the share price of 15 companies remained unchanged.

Meanwhile, Shares in global market tumbled on Monday as investors grew increasingly anxious about the economic impact of China’s spreading virus outbreak, with demand spiking for safe-haven assets such as the Japanese yen and Treasury notes.

Japan’s Nikkei average slid 2.0%, the biggest one-day fall in five months, while a Tokyo-listed China proxy, ChinaAMC CSI 300 index ETF, slid 2.2%. Amid the Lunar New Year holiday, many markets in Asia were closed.

U.S. S&P 500 mini futures were last down 1.0%, having fallen 1.3% in early Asian trade.

European shares were expected to follow suit, with major European stock futures trading 1.2-1.4% lower.