Negative sentiment at PSX, KSE-100 down over 500 points

Selling pressure was observed at the Pakistan Stock Exchange (PSX) as tensions between the US and Iran escalated further, with the benchmark KSE-100 Index shedding over 500 points during the opening minutes of trading on Friday. At 9:35am, the benchmark index was hovering at 177,562.67, down by 560.89 points or 0.31%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including HUBCO, MARI, POL, PPL, MCB, MEBL, NBP and UBL, traded in the red.