Categories: Latest News

Pakistan Stock Exchange Crashes Due to Third Trade Halt in a Week

Earlier today, Pakistan Stock Exchange (PSX) crashed as the trading was halted for the third time in a week. As per Samaa, the KSE-100 Index took a 4.6% dip translating in 1,683 points. Overall, the bourse plunged 20% since the beginning of 2020, thus resulting in a market crash.

“The KSE-100 is now down more than 20% from its recent high of 43,600 points so it’s officially a bear market, you can call it a crash too,” said Raza Jafri, director of research at Intermarket Securities while talking to Samaa.

The crash, of course, came on the back of pandemic Coronavirus that has jolted stock markets across the world. Trading halt has been adopted in the US, Japan, and other markets to stop panic selling among the investors who now seem too cautious amid the virus fears.

Related Post

Read more: Saudi Arabia has given 72-hour deadline for iqama holders to return

PSX, however, was able to recover the impact once the trading session resumed. Finishing off above 36,000 (more than Friday’s opening) the market climbed up with the help of Oil and Gas sector coupled with input from large sectors like chemical, engineering, and power.

Aisha Arshad

Recent Posts

  • Latest News

Armed robbery at Imtiaz Super Market in Karachi’s Bahadurabad area

Armed robbery at Imtiaz Super Market in Karachi's Bahadurabad area was reported on Tuesday. A…

10 hours ago
  • Celebrity News

Queen Elizabeth II, 95, turns down old age award

Queen Elizabeth II, 95, turns down the old age award! The Oldie of the Year…

10 hours ago
  • Music

The Jonas Brothers spotted filming scenes on a yacht in Miami

The Jonas Brothers were spotted filming scenes for an upcoming project on a yacht in…

12 hours ago
  • Sports News

England get Wembley stadium ban by UEFA over Euro 2020 final chaos

England get Wembley stadium ban over Euro 2020 final chaos! UEFA has punished English football's…

13 hours ago
  • Latest News

Pak Navy foils an attempt of Indian submarine from crossing into the Pakistani waters

Pak Navy foils an attempt of Indian submarine from crossing into the Pakistani waters, it…

14 hours ago
  • Latest News

Ishaq Dar wins defamation case against ARY in UK

Ishaq Dar has won the defamation case against ARY in the UK!Another defamation case has…

16 hours ago