Bloodbath at PSX, as benchmark index plunges over 1,900 points at midday
Bloodbath at PSX, as benchmark index plunges over 1,900 points at midday!
On Thursday, the Pakistan Stock Exchange saw more than 2,000 points wiped off the benchmark KSE-100 index a little after the mid-day point of intraday trading.
The index opened at 45,369.14 points and shed 1,922 points, at around 12:40 pm.
As investors dumped their positions, they wiped off close to 2,000 points, around 4.4%, by 1:30 pm.
According to the PSX Rulebook, if the index goes five percent above or below its last close and stays there for five minutes, trading in all securities is halted for a specified period.
Meanwhile, the stock markets across the world witness a bearish trend on the back of countries imposing restrictions to control the spread of the Omicron variant.
That has added a similar effect at the PSX, experts cite.
