PSX: KSE-100 falls over 400 points

According to Business Recorder, the Pakistan Stock Exchange came under pressure on Monday, with the benchmark KSE-100 shedding more than 400 points during trading. By 3:15pm the index was hovering around 166,005.42, a fall of 414.29 points equal to 0.25 per cent. Sellers focused on car assemblers, cement makers, commercial banks, exploration firms and fuel marketers.

Index-heavy stocks such as HUBC, MARI, PPL, PSO, SSGC, SNGP, HBL, NBP and UBL were trading in negative territory. Friday's session had ended with a 0.14 per cent rise, adding 233.55 points to finish at 166,419.72, as few fresh catalysts and costlier crude kept traders wary.

Globally, Asian share markets weakened as worries about the huge funding needs of AI and tech stocks weighed on sentiment, though stronger Chinese economic figures offered some support. Oil prices dropped after US President Donald Trump chose to set aside part of the sanctions on Russia, although he later said no final decision had been made. Iran also said another tanker had struck a mine in the Strait of Hormuz, while Japan's Nikkei dropped 1.2 per cent.