KSE-100 loses momentum, down nearly 700 points in intraday trading

The Pakistan Stock Exchange (PSX) observed a mild downturn during intraday trading on Tuesday, with the benchmark KSE-100 Index shedding nearly 700 points. The market opened on a positive note but quickly lost momentum, with the index moving between an intraday high of 163,384.95 and a low of 161,924.57. At 12:20pm, the benchmark index was hovering at 162,126.39, a decrease of 676.76 points or 0.42%. Selling pressure was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including HUBCO, MARI, OGDC, PPL, POL, POL, MEBL and MCB, traded in the red.