Pakistan's stock market took a hammering on Thursday with the benchmark KSE-100 losing 1,716 points, down by 4.77 per cent, amid coronavirus scare, crashing oil prices and panic selling.
According to the Pakistan Stock Exchange's (PSX) website, the market was suspended for 45 minutes in view of the tumbling stocks. This was the second time this week the market was suspended in trading hours.
The Karachi Stock Exchange (KSE-100) closed at 35,956, losing 1,716 points on the day down by 4.77 per cent, according to the PSX report.
Similar scenes were seen on Monday when the KSE-100 saw its biggest single-day decline, losing 2,106 points.
Experts said the situation of regional markets and falling oil prices coupled with coronavirus scare was responsible for panic selling.
Stocks and oil prices fell across the world on Thursday with the World Health Organisation declaring the coronavirus to be a 'global pandemic' and host of countries issuing travel bans.
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