KARACHI: The Pakistan Stock Exchange (PSX) opened on a bearish note as the KSE-100 index witnessed a decline of 103.75 points, or 0.24 per cent, in the first hour of trading on Monday.

The local bourse on Friday, closed lower on uncertainty over the monetary policy announcement next week, the surge in the National Savings rates, rise in the industrial power tariff, trade deficit and concerns over higher Consumer Price Inflation played a catalytic role in the bearish closed.

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Analysts said that the market opened negative today, due to the volatility in the rupee value, and the expectations of higher interest rates in the upcoming key policy kept the investors’ confidence in the market low. The market is expected to remain in the negative as there are no positive triggers in the local market.