Bearish trend continue as KSE-100 index sheds 400 points

KARACHI: The Pakistan Stock Exchange on Wednesday witnessed bearish trend as KSE-100 index closed at 41,898.70 points with the negative change of 400.49 points, ARY News reported.

A total of 197,137,000 shares were traded compared to the trade 189,002,866 shares during the previous day, whereas the value of shares traded during the day stood at Rs 7.4 billion as compared to Rs 6.715 billion during last trading day.

Total 353 companies’ transacted shares in the Stock Market on Wednesday, out of which 106 recorded gain and 236 sustained losses whereas the share price of 11 companies remained unchanged.

Meanwhile, most Southeast Asian stocks were subdued on Wednesday as rising coronovirus death toll in China weighed on investors’ risk appetite, while Thailand’s market bounced from a seven-day losing streak as investors snapped up cheapened stocks.

The virus has claimed 132 lives in China and 1,500 new cases have been identified, prompting several countries to restrict air travel to China as pressure mounts on Beijing to contain its spread.

Hong Kong stocks tumbled nearly 3% as the market opened for trade after the Lunar New Year holiday, despite a show of confidence by the Word Health Organisation in China’s ability to contain the virus.