Selling persists in PSX as bears take hold of market

The Pakistan Stock Exchange (PSX) witnessed persistent selling on Thursday, with the benchmark KSE-100 Index hovering at 111,432.59 after losing 1,000 points during the opening hours of trading in the market.Bears took hold of key sectors including cement, commercial banks, fertilizer and refinery.In addition, index-heavy stocks including NRL, HUBCO, MARI, POL, ENGRO, HBL, FABL and SILK also traded in the red.Earlier on Wednesday (Dec 25), the stock market remained closed on account of a public holiday observed to celebrate the birth anniversary of the country’s founder Quaid-i-Azam Muhammad Ali Jinnah.Besides, the PSX witnessed a highly volatile session on Tuesday (Dec 24) as stocks moved in both directions, closing at 112,414.81 points in deep red after losing 1,509.61 points due to increased selling pressure.