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Tuesday, December 24, 2024  
21 Jumada Al-Akhirah 1446  

Coronavirus: PSX crashes as index records largest drop in five year history

—File Photo

PSX had suffered its worst single-day decline in history as Pakistan Stock Exchange halted for a second consecutive day on Thursday when share prices fell 1,752 points amid coronavirus fear

The market came to a halt around 9:35am when prices rapidly fell 5.76 per cent.

The trading halted for 45 minutes at Pakistan Stock Exchange after the index suffered another major loss following the surge in Coronavirus cases in the country. The PSX-100 index closed at 28664 points.

It is for the sixth time in two weeks that trading was halted at PSX for 45 minutes.

Trading halted yesterday less than an hour into the morning session after the benchmark KSE-100 index fell 1,682 points as investors reacted with disappointment to the lower-than-expected cut in the policy rate announced by the central bank on Tuesday.