PSX witnesses bearish trend as KSE-100 index sheds 65 points

KARACHI: Pakistan Stock Exchange on Wednesday noted bearish trend as KSE-100 index closed at 42561 points as compared to 42,626.47 points on the last working day with the negative change of 65 points, ARY News reported.

A total of 177,984,850 shares were traded compared to the trade 177,567,170 shares during the previous day, whereas the value of shares traded during the day stood at Rs 9.289 billion as compared to Rs 6.812 billion during last trading day.

Total 352 companies’ transacted shares in the Stock Market today, out of which 139 recorded gain and 189 sustained losses whereas the share price of 24 companies remained unchanged.

World stock markets looked to be getting back to full strength on Wednesday, as updates from China about the spread of a new flu-like coronavirus raised hopes the outbreak would be contained.

Shanghai stocks recovered from an early 1.4% drop to end higher. Japan’s Nikkei, South Korea’s Kospi index and Hong Kong’s Hang Seng had all risen by more than half a percentage point overnight. Australia’s S&P/ASX 200 shrugged off worries to hit a record high.

Spot gold gave back some gains to trade at $1,555 per ounce and the yuan eased in the onshore market to 6.8997 per dollar.

Oil prices also settled back as traders figured a well-supplied global market would be able to absorb disruptions that have cut Libya’s crude production.

Brent crude was down 0.31% at $64.39 a barrel and U.S. crude fell 0.43% to $58.13 a barrel.