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KARACHI: The Pakistan Stock Exchange has continued a downward trend due to the coronavirus fears as the benchmark KSE-100 Index lost more than 2000 points.
At the time of the market started, the index was being traded at 30,836.07 points witnessing a drop of 1780.86 points and a negative percentage change of 5.46 percent.
It is to be noted here that the market had lost 24 percent of value since the beginning of 2020 and is on a decline of over 19 percent in a year.
The stock market crashed on the opening day of the week. The KSE 100 index nosedived a staggering 2375 points, marking a staggering decline of 6.59 percent. Trading was suspended for 45 minutes as the stock market opened on Monday, marking the fourth time this has happened since the last week.
The bearish trend marks a 20 percent decline in the stock during the ongoing year. The stock market has lost 25 percent from its peak on January 13. The stock market is facing a negative sentiment due to the global disruptions over the coronavirus and a slowdown in the economy.
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