PSX opens lower as selling grips index-heavy sectors

Negative sentiments were observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 300 points during the opening minutes of trading on Monday. At 9:40am, the benchmark index was hovering at 183,847.01, a decrease of 327.47 points or 0.18%. Selling pressure was observed in key sectors, including cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including MARI, OGDC, POL, PPL, SSGC, FFC, HBL, MCB, MEBL and NBP, traded in the red. In a key development, it was learnt that Pakistan International Airlines’ privatisation process is entering its next phase, with officials indicating that the government has an option to divest its remaining 25 per cent stake — valued at around Rs45 billion — within a three-month window, following the transfer of management control to a private consortium.