WITH major stock exchanges of the world tumbling because of a sharp decrease of more than 20 per cent in oil prices besides the effect of coronavirus, Pakistan Stock Exchange faced a decline of more than 2,000 points on March 9.
This sharp nosedive panicked the market and trading was suspended in the early part of Thursday. Luckily, the market gained its momentum when trading resumed after some time.
Traders need to be careful in such murky environment. The Indian stock market has witnessed a fall of five per cent. Japan stocks also dropped five per cent, China and Hong Kong shares plunged beyond three per cent among oil price war.
The declining trend is expected to continue. Although chances of locking the floor are rare, investors need to be vigilant and conscious during trading. Gold prices’ stability is also doubted by experts. To cut short, extreme vigilance must be exercised while trading during this week.
Published in Dawn, March 15th, 2020