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Reports of PSX closure due to coronavirus ‘baseless’: Director

KARACHI: Pakistan Stock Exchange (PSX) Director Ahmed Chinoy has turned down the reports of the stock market being closed due to the coronavirus.

Earlier, rumors of a complete lockdown were circulating across Sindh. A local news channel had also expressed fears that the Pakistan Stock Exchange would be closed. 

The news channel had claimed that the Pakistan Stock Exchange would be completely and the stockbrokers will trade online from homes. On the other hand, stockbrokers said that investors have stopped investing due to negative reports about the stock market, and if the market closes, traders will suffer huge losses.

Read more: PSX ends volatile trading session on negative note

It should be noted that due to the increase in coronavirus increasing cases in the country, educational institutions have been closed in the country, while before this, smart and micro-smart lockdown is being implemented in many cities, however, coronavirus cases are increasing rapidly in the country.