The PSX continued its downward trend inline with the last session. The index dropped by 775.82 points to settle at 39,112 at the closing bell.

The fear of rising coronavirus cases continued to grip the market as the daily tally surged past 1000 infection per day. The NCOC, which is in charge of restrictions related to the virus, has already announced that restrictions may be ramped up if cases continue to rise.

On the global front uncertainty due to the election in the United States also had a negative impact on sentiments. Uncertain times generally call for a wait and watch approach at most institutions hence we see decreased participation from foreigners.

Only 82 scrips closed in the positive while 261 were red at the end of the day. 16 companies remained unchanged.

Market participation for the 100 Index decreased to 206mn from 375mn in the previous session (-45% on d/d basis). Major contribution to total market volume came from HASCOL, UNITY and PIBTL taking a chunk of 84M shares out of the total market volume of 322M shares. Daily traded value for the 100 Index decreased to USD57M from USD103M in the previous session.