Selling persists in PSX as index drops on Monday
Business
Selling pressure was witnessed in key sectors
KARACHI (Dunya News) – A mixed trend was observed during trading in the Pakistan Stock Exchange (PSX) on Monday.
On the first day of the business week, trading began with a negative trend, and the 100 index recorded a decline of over 400 points. However, shortly afterward, the index saw a recovery with an increase of 188 points, reaching the level of 119,290 points.
Later in the day, the investors remained jittery and the index closed at 118,221 after losing 881 points against Friday's 119,102.
Read more: Fluctuation persists in PSX amid budget uncertainty
Selling pressure was witnessed in key sectors including automobile assemblers, oil and gas exploration companies, OMCs and power generation.
Besides, index-heavy stocks including HUBCO, OGDC, PPL, POL, MARI, PSO and SSGC traded in the red.
On Friday, the KSE-100 index had closed at 119,102 points with the PSX remaining under persistent pressure due to budget uncertainty.
Meanwhile, in the interbank market, the value of the US dollar decreased by 7 paisas, falling from Rs281.97 to Rs281.90.
