Selling pressure at bourse, KSE-100 down over 1,000 points

Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 1,000 points during the opening minutes of trading on Monday. At 9:50am, the benchmark index was hovering at 149,361.13, down by 1,037.58 points or 0.69%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies and refinery. Index-heavy stocks, including OGDC, POL, MCB, NBP and UBL, traded in the red. During the last week, Pakistan’s stock market remained under pressure amid escalating geopolitical tensions and persistently high global oil prices. The benchmark KSE-100 Index continued to exhibit volatility, declining by 1,309 points or 0.9% on a week-on-week basis to close at 150,398.70 points. Internationally, oil prices rose, bonds fell, and stocks ‌were mixed at the start of trading in Asia on Monday as US President Donald Trump vowed “hell” if Tehran does not meet his deadline to reopen the Strait of Hormuz.