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Pakistan Stock Exchange plunges by 210 points

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Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

KARACHI: Pakistan Stock Exchange (PSX) witnessed bearish trend after a positive start on Tuesday as KSE 100 Index plunged 210 points, ARY News reported.

The 100 index failed in maintaining level of 40,000 points and dropped down to 39,800 points during trading on Tuesday.

The bench mark index of the PSX recorded gain of 100 points at the start of the trading day, but later the bearish trend took over the market.

Earlier on Monday, the Pakistan Stock Exchange 100 index lost 824 points at the close of first trading day of the week.

A total of 104,287,930 shares were traded as compared to the trade of 104,305,370 shares during the previous day, whereas value of shares traded during the day stood at Rs 5.7 billion as compared to Rs 7 billion during last trading day.

Meanwhile, Asian markets idled near 18-month highs on Monday as trading volumes weakened ahead of the Christmas holiday break, with investors taking profit on gains made earlier this month.

Read more: Pakistan Stock Exchange plunges 948 points

In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures rose 0.1% each while those for London’s FTSE inched up a bit.

E-Mini futures for the S&P 500 climbed to all-time highs having put on 2.7% for the month.

Global stocks were “basking in the afterglow of the U.S. China trade deal and continued encouraging signs of stabilisation in the global growth slowdown,” said David Bassanese, Sydney-based chief economist at Betashares.

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