Selling returns to PSX, benchmark index down over 700 points

After days of buying momentum, selling returned at the Pakistan Stock Exchange (PSX) amid concerns around the opening of the Strait of Hormuz, with the benchmark KSE-100 Index shedding over 700 points during the opening minutes of trading on Friday. At 9:30am, the benchmark index was hovering at 181,036.87, down by 739.72 points or 0.41%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies and OMCs. Index-heavy stocks, including MARI, OGDC, POL, PPL, PSO, SSGC, MCB, MEBL and NBP, traded in the red.