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

  • Drama Reviews

Dobara Episode-29 Review: Mahir path crosses with his ex-flame

Hum TV's drama serial Dobara is a progressive take on marriage and it has quite…

12 hours ago
  • Drama Reviews

Kaisi Teri Khudgharzi Episode-2 Review: Shamsher is hounding Mahek and her family

ARY Digital's newly started drama serial Kaisi Teri Khudgharzi is two episodes down. From the…

13 hours ago
  • Latest News

SBP bans trading apps including OctaFX, Easy Forex

The State Bank of Pakistan (SBP) has banned trading apps including OctaFX, Easy Forex! SBP…

16 hours ago
  • Latest News

Monkeypox Outbreak: After UK, Canada, US, Spain & Portugal report new suspected cases

New suspected cases of monkeypox have been reported in Canada, U.S, Spain & Portugal! As…

16 hours ago
  • Latest News

Pakistan reports 89 COVID-19 cases, one death

Pakistan on Thursday has reported 89 COVID-19 cases, and one death. According to the latest…

17 hours ago
  • Latest News

SC bans appointments, transfers relating to high-profile cases

Supreme Court has banned the appointments, and transfers relating to high-profile cases! The orders came…

17 hours ago