Selling engulfs bourse, KSE-100 sheds over 2,600 points

After days of buying momentum, selling returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 2,600 points as investors adopted a cautious stance amid rising political noise during trading on Tuesday. At 1:35pm, the benchmark index was hovering at 158,932.16, down 2,606.24 points, or 1.61%. Selling pressure was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, PSO, MCB, MEBL and NBP, traded in the red.