Selling returns to bourse, KSE-100 sheds over 650 points by mid-day

The KSE-100 Index extended its downward trend on Monday, slipping over 650 points during mid-day trading as investor sentiment remained subdued. At 11:15am, the benchmark index was hovering at 161,446 points, a decrease of 656.58 points or 0.41%. A broad-based selling pressure was observed in key sectors, including cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, POL, PPL, PSO, SNGPL, SSGC, HBL and MCB, traded in the red. During the previous week, the KSE-100 Index largely held its ground despite sharp fluctuations in macroeconomic indicators and a significant rise in trading activity. The benchmark closed the week at 162,102.92 points, reflecting a nominal gain of 0.1%.