KARACHI: Trading was halted at the Pakistan Stock Exchange less than an hour into the morning session on Wednesday after the benchmark KSE-100 index tanked over 5 per cent.
Right from the outset, shares began slipping into the red without looking the other way, forcing a halt in trading after the top market capitalisation KSE-30 index sank below the 5pc mark for the second time this week and a fifth time in the two weeks since March 9.
The benchmark KSE-100 index was down 2,203 points, or 6.75 per cent, as of 2:29pm – over three hours after trading resumed.
Earlier this week on Monday, PSX suffered its worst single-day decline in history. Amid the mad rush to jettison shares – trigerred by the coronarvirus pandemic and the ensuing global economic slowdown – investors saw equity values hit their lower circuits.
As a result the KSE-100 index had plunged by 2,375.97 points, representing the steepest ever decline point-wise in a single day and a loss of 6.59 per cent, the heaviest one day drop in percentage terms.
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