PSX falls below 28,000 mark, KSE-100 Index sheds over 1,000 points

• The benchmark KSE-100 Index lost 1,336.03 points or a percentage drop of 4.68pc to close at 27,228.80 points.
• The BR100 Index witnessed a decline of 149.63 points and a percentage drop of 5.18pc to close at 2,738.05 points.
• A market halt was triggered at 12:20 pm.

The Pakistan Stock Exchange (PSX) continued its stay in the red zone after the benchmark KSE-100 Index shed over 1,000 points in the trading session on Wednesday.

The benchmark KSE-100 Index lost 1,336.03 points or a percentage drop of 4.68pc to close at 27,228.80 points. The latest drop comes amid lockdown imposed by provincial governments in order to curtail the spread of coronavirus.

A market halt was triggered at 12:20 pm due to a 5pc decline in the KSE-30 index, under which all equity and equity-based derivative markets shall remain suspended for 120 minutes.

Meanwhile, the BR100 Index witnessed a decline of 149.63 points and a percentage drop of 5.18pc to close at 2,738.05 points.

PSX on Tuesday witnessed a freefall right after the opening in the first trading session after the lockdown. With an eventual slump in stock prices, all the scrips hit lower circuit breakers.

The 7th market halt, which lasted for 2 hours and the further shortened market timings failed to make any change and the market closed with huge losses.

It may be mentioned here that the Securities and Exchange Commission of Pakistan (SECP) on Monday announced to reduce trading timings of Pakistan Stock Exchange from six to four hours and extended the market halt period from 45 minutes to 120 minutes (2 hours).