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Stock Market Experiences Bloodshed, Sheds 1105 Points

KARACHI: The stock market slumped over 1,100 points on Monday and closed below the 40,000 marks, taking a cue from global equity sell-off on concerns over the spreading coronavirus.

At close, the benchmark KSE-100 index recorded a decrease of 1,105.49 points, or 2.75%, to settle at 39,143.73.

The outcome of the FATF review of Pakistan’s measures to fight money laundering and terror financing was also not in line with market expectations, hence, it also sparked sell-off.

Overall, trading volumes increased to 144.3 million shares compared with Friday’s tally of 85.6 million. The value of shares traded during the day was Rs5.5 billion.

Shares of 345 companies were traded. At the end of the day, 44 stocks closed higher, 285 declined and 16 remained unchanged.