Bears return in PSX as selling spree intensifies

KARACHI : Bears returned to the Pakistan Stock Exchange (PSX) during the opening hours of trading on Friday following an overall slump in the global market.The benchmark KSE-100 Index hovered at 115, 219 points after shedding more than 900 points.
Due to uncertainty in the global market fuelled by Trump tariffs, selling pressure was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refineries.Besides, index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MEBL, NBP and MCB traded in the red on the back of bearish trend in the international markets.
It must be remembered that the KSE-100 index was closed at 116,189 points after gaining 2036 points on Thursday after US President Donald Trump announced a 90-day pause on tariffs.