PSX: selling at bourse, KSE-100 down over 800 points
Selling was observed at the Pakistan Stock Exchange (PSX) amid expectations of a policy rate hike by the Monetary Policy Committee, which is expected to meet today, with the benchmark KSE-100 Index shedding over 800 points during the opening minutes of trading on Monday. At 9:50am, the benchmark index was hovering at 161,542.30, down 832.57 points or 0.51%. Key sectors observed selling pressure,…
At the opening minutes of Monday's trading session at the Pakistan Stock Exchange (PSX), traders noticed a significant sell-off, amid speculation of a potential rate hike by the Monetary Policy Committee. The benchmark KSE-100 Index experienced a sharp decline of over 800 points, opening at 161,542.30 and closing at 160,709.73, marking a loss of 832.57 points or 0.51%.
The pressure was felt across multiple sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries, with index-heavy stocks like HUBCO, OGDC, MARI, PPL, HBL, MEBL, and NBP trading in the red.
The State Bank of Pakistan (SBP) Monetary Policy Committee is set to meet today to assess the key policy rate. Market analysts anticipate a 50 basis points increase to curb any persistent inflationary pressures and external shocks, given the prevailing uncertainty. In recent weeks, the PSX has continued its losing streak, with the KSE-100 Index shedding 4,044.84 points, or 2.4%, week-on-week, closing at 162,374.84 points.
This downturn was fueled by rising Brent crude prices, heightened geopolitical tensions, and a widening trade deficit. Globally, stock markets showed caution on Monday, as oil prices eased from six-month highs ahead of key central bank meetings and corporate earnings reports. Brent oil dropped 1.6% to $114.88, while US crude futures fell 1.9% to $101.29 a barrel. Meanwhile, regional tensions and the ongoing AI boom further tested investor confidence.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
