At 11:15am, the highest benchmark index was 113,652.79, down by 602.93 points or 0.53%.

Key sectors such as chemicals, commercial banks, fertilizers, oil and gas exploration companies, OMCs, power generation, and refineries experienced selling pressure.

Major stocks, including NRL, PRL, HUBCO, OGDC, PPL, POL, PSO, SHEL, SNGPL, and MCB, were trading in the red.

“Market will be watchful of politics, especially PTI trying to stage another rally by 8 February,” Intermarket Securities said.

“Global markets are under pressure, but that will have no impact on the Pakistan market, which has been driven mostly by domestic liquidity. We advise profit taking on higher levels; however, energy stocks have been under pressure lately and could be offering attractive levels,” it added.

Last week, the PSX faced downward pressure as investors chose to sell off their holdings to realize available margins. The benchmark KSE-100 index fell by 624.76 points week-over-week, closing at 114,255.73 points.

The KSE-100 index of the PSX saw a bearish trend on Monday, losing 1,360.16 more points, a negative change of 1.18%, closing at 113,520.32 points as compared to 114,880.49 points on the last trading day on January 27.

Bitcoin experienced a significant drop shortly after trading began on January 25, with its price falling to $104,801, a decline of $82 from the previous close of $104,883.70 last week.

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