Setting aside all the negativity generated by the coronavirus crisis, the Pakistan Stock Exchange (PSX) gained 1,277.09 points with the KSE-100 Index closing at 30,786.62 on Thursday.

The 4.33 percent gains were made on a day which saw the index reaching 30,842 at one point. The lowest level was recorded at 29,460.38 after trading being started from the yesterday’s level of 29,505.57.

As a whole, a total of 226,510,065 shares were traded during the day.

It was repeat of Tuesday when the PSX had experienced a bullish trend as it closed the day with the KSE-100 Index at 29.231,63 after gaining 1,208.24 points.

Earlier on Wednesday, the KSE-100 Index closed at 29,505.57 after gaining 273.94 points.

This much-awaited change came as the PSX has been missing any consistency or a high note that could help moving towards wiping out or at least making some of the lost ground in the current month.

On the other hand, Moody's in its latest report said that although the State Bank of Pakistan had delivered sizeable rate cuts amounting to 225 basis points in March, it might not sufficiently offset the tightening in financing conditions related to local-currency depreciation.

In this scenario, there is very little hope or evidence that there would any long-term gains in the coming days or weeks due to the coronavirus pandemic which has jolted and paralysed the entire world.

In fact, trade suspension mechanism has been employed on several occasions to stop the downward movement.

During the same period, it has also witnessed the worst single day performance after losing over 2,400 points on March 16.