PSX closes in red, loses 272 points

KARACHI: The Pakistan Stock Exchange (PSX) on Friday witnessed bearish trend as KSE-100 index closed at 41,630.93 points on the last working day with a negative change of 272.57 points, ARY News reported.

A total of 193,866,160 shares were traded compared to the trade 162,237,910 shares during the previous day, whereas the value of shares traded during the day stood at Rs 7.912 billion as compared to Rs 6.844 billion during last trading day.

Total 346 companies’ transacted shares in the Stock Market on Friday, out of which 123 recorded gain and 211 sustained losses whereas the share price of 12 companies remained unchanged.

Meanwhile, Asian stock markets extended losses on Friday 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 200-mark in China with confirmed cases of infection reported in at least 22 other countries and regions.

Economists have signalled the impact of the new virus could be worse than that of the Severe Respiratory Syndrome (SARS) epidemic in 2002-2003, which took 800 lives and cost the global economy an estimated $33 billion.