Selling at bourse, KSE-100 down nearly 1,100 points in early trade

Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding nearly 1,100 points during the opening hours of trading on Thursday. At 10:40am, the benchmark index was hovering at 181,965.55, down 1,084.25 points or 0.59%. Selling was observed in key sectors, including cement, commercial banks, oil and gas exploration companies and refineries. Index-heavy stocks, including MCB, NBP, OGDC, POL, PPL and ARL, traded in the red. The Saudi government has dispatched a high-level delegation to Pakistan to explore avenues of cooperation in various sectors, apparently to finalise a priority agenda ahead of the expected visit of Saudi Crown Prince and Prime Minister Mohammed bin Salman.