Pakistan Stock Exchange sees bullish trend
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday witnessed bullish trend as KSE 100 index closed at 31242.19 points. A total of 185,594,870 shares were traded as compared to the trade 130,415,063 shares during the previous day. As many as 354 companies transacted shares in the stock market on Wednesday, out of which 209 recorded gain and 131 sustained losses whereas the share price of 14 companies remained unchanged. Meanwhile, Asian and European stocks sank Wednesday as the coronavirus infects the global economic outlook, while oil prices dived as OPEC-led output cuts were deemed insufficient to soak up a vast supply glut. Sentiment turned sour Wednesday on grim warnings over the economic impact of the coronavirus, which was first reported in China and has so far killed more than 125,000 people and infected almost two million globally. Investors also fretted on news that US President Donald Trump had frozen US funding for the World Health Organization over its handling of the crisis, particularly with regard to China. Top stock markets across Europe each shed more than two percent, as collapsing oil prices sent the energy sector tumbling.