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.