The Pakistan Stock Exchange crashed again on Friday at 9:25am, less than half an hour after its opening. KSE-100 lost 1683 points and 4.6 per cent off its value within five minutes of trading, plunging the market 20 per cent from its peak level this year.
Since January 2020, almost $10 billion have been lost on market value.
The benchmark KSE-100 index, a gauge to measure market performance, shed 1,683 points and lost 4.6% of its value within five minutes of the market’s opening, sending the market down 20% from its highest level this year. In this time (since January), $10 billion was shaved off from the market’s value.
Maheen Rahman, CEO of Alfalah GHP Asset Management terms the crash a reaction to the global markets situation after the World Health Organization declared COVID-19 a global pandemic sending markets across the global downhill.