Friday, October 7, 2022

Trading halted at PSX 3rd time this week as index falls over 1,600 points

Trading halted at PSX 3rd time this week as index falls over 1,600 points
KARACHI (92 News) – For the third time in the week, trading was halted at the Pakistan Stock Exchange on Friday as the index fell over 1,600 points. It is pertinent to mention here that following a crash in financial markets across the world amid deepening corona fears. The Pakistan Stock Exchange crashed as the benchmark KSE-100 index down 20% from its highest level this year. The halt started at 9:25am. The halt lasts 45 minutes. A trading halt applies to the market when the large cap KSE-30 index falls beyond four per cent for a period of five minutes or more. The drastic fall pushed the KSE-100 far below the 35,000-mark, triggering a halt in trading for the third time this week. At 9:25am, the KSE-100 index – a benchmark for market performance – was down 1,682 points or 4.68% to stand at 34,273.73.