PSX: selling continues, KSE-100 down over 1,200 points in early trade

Pakistan’s KSE-100 was down 1,241.23 points, or 0.76%, at 162,683.08 at 11am on Friday, as selling persisted in early trading, Business Recorder reported. The decline came as fighting between the world’s largest crude exporter and Yemen-based Houthis intensified. Selling affected several major sectors, including banks, oil and gas exploration, power, automobiles, cement and refineries.

HUBCO, MARI, PPL, POL, MCB, MEBL, NBP and UBL were among index-heavy shares trading lower. The previous session had also ended weaker, with the benchmark losing 2,006.67 points, or 1.21%, to close at 163,924.32. Asian markets were also broadly lower on Friday, while investors reassessed the outlook for US interest rates amid concerns over AI-related investment.