PSX's KSE-100 Index bleeds over 1,000 points amid coronavirus scare in Pakistan

• At the time of filing this report, the KSE-100 Index was being traded at 37,181.85 points showing a fall of 1,156.48 points and a percentage decline of 3.02pc.

Bears rule the Pakistan Stock Exchange (PSX) benchmark KSE-100 Index on Thursday, as the bourse lost over 1,000 points in the opening session, amid concerns of coronavirus rise in the country.

At the time of filing this report, the KSE-100 Index was being traded at 37,181.85 points showing a fall of 1,156.48 points and a percentage decline of 3.02pc. Pakistan also become a victim of coronavirus as two cases of the deadly virus were confirmed on Wednesday.

It may be mentioned that the index has lost more than 5,000 points in the past 30 days.

The three top traded companies were Unity Foods Limited with a volume of 21,704,500 and price per share of 12.93 (-0.52), Hascol Petroleum Limited with a volume of 9,845,000 and price per share of 18.86 (-1.31), Bank of Punjab with a volume of 8,326,000 and price per share of 11.75 (-0.69).

The top three advancers were Dewan Sugar Mills Limited with a volume of 500 and price per share of 2.90 (0.40), Tri-Star Mutual Fund Limited with a volume of 35,500 and price per share of 3.35 (0.35), Service Industries Textile Limited with a volume of 1,000 and price per share of 10.19 (0.97).

The top three decliners were Shaheen Insurance Company Limited with a volume of 12,000 and price per share of 3.10 (-0.77), Media Times Limited with a volume of 88,000 and price per share of 0.87 (-0.13), Amtex Limited with a volume of 29,500 and price per share of 0.63 (-0.09).

In the regional stock markets, the coronavirus outbreak has already taken its toll. Commodities are down in China, South Korea and Japan, due to supply constrictions. Importers usually have inventories of two three months, however if the situation persists till April, it may create global shortage of goods.