PSX weekly review shows decrease of 2,265 points

KARACHI: The Pakistan Stock Exchange (PSX) mostly witnessed bearish trend throughout the week and lost 2,265 points during the trading, ARY News reported on Saturday.

The stocks expert say due to outbreak of coronavirus in several countries of the world and detection of two of the cases in Pakistan is shaking confidence of the traders.

The 100-Index failed to maintain level of 38,000 points and was closed at the level of 37,983 points during the trading week which begun on Monday and ended on Friday.

According to the weekly report, 86 crores shares worth 37 billion rupees were traded during the week and the market capitalization witnessed decreases of Rs 436 billion last week and was recorded at Rs7,094 billion.

In previous week, the market kept struggling for sustainability when confusion and uncertainty surrounded investors when the IMF, in its concluding remarks affirmed that Pakistan had been successful in completing the “structural benchmarks” as well as in meeting “all end-December performance criteria” which had been set for the implementation of $6 billion Extended Fund Facility programme.