PSX continues bearish trend as 100-index loses 700 points

KARACHI: The Pakistan Stock Exchange (PSX) on Monday crashed as KSE-100 index lost 700 points during the first day of the trading week, ARY News reported.

The PSX continued its bearish trend of last week and plunged 700 points. The KSE-100 index is currently trading at the level of 40,929 points.

According to the economic analysts, the market has witnessed crash due to increasing inflation and bearish trend in the Asian Stock Markets amid coronavirus threat.

It may be noted that the Pakistan Stock Exchange’s (PSX) KSE-100 index had closed at 41,630.93 points on the last working day with a negative change of 272.57 points.

A total of 193,866,160 shares were traded on Friday.

Meanwhile, Asian stock markets are facing loss after the World Health Organisation (WHO) declared the coronavirus outbreak a global emergency, with Indonesia and Philippines easing over 1% each.

The death toll from the virus crossed the 350-mark in China with confirmed cases of infection reported in at least 22 other countries and regions.