KSE-100 index drops 450 points amid selling pressure on PSX

The official KSE-100 index fell 450 points on Monday, the first day of the week, due to selling pressure, causing volatility on the Pakistan Stock Exchange (PSX).

With selling seen in important industries including automakers, commercial banks, oil and gas exploration firms, OMCs, and refineries, the KSE-100 index was trading at 111,615 points. PRL, NRL, PSO, SHEL, SNGPL, MARI, OGDC, PPL, HBL, MCB, MEBL, and NBP were among the index-heavy stocks that saw negative trading.

The greenback, however, lost Rs0.06 in value and sank from Rs279.21 to Rs279.15.