Pakistan Stock Exchange declines by over 2,400 points amid coronavirus fears

KARACHI: As coronavirus cases kept on emerging in various parts of the country on Monday, the Pakistan Stock Exchange (PSX) declined by over 2,400 points. 

A total of 215,437,490 shares were traded compared to the trade 290,470,770 shares during the previous day, whereas the value of shares traded during the day stood at 8.060 billion as compared to Rs 13.968 billion during last trading day.

As many as 346 companies’ transacted shares in the Stock Market Monday, out of which 18 recorded gain and 319 sustained losses whereas the share price of 9 companies remained unchanged.

According to a notification by the PSX, trading was halted around 10:13 AM due to 5% decline in the KSE-30 Index. All equity and equity based markets were closed for 45 minutes as well. 

The objective of introducing market halt is to safeguard investors and market participants during volatile markets.