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Bloodbath at PSX, as benchmark index plunges over 1,900 points at midday

KSE 100-index after losing over 1,900 points on the initial trading is being trading at the level of 43,433 pointS.

Pakistan stock exchangePakistan stock exchange | OyeYeah News
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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.

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.