Delay in IMF programme leads to 450 points decline in KSE-100
Business
Unstable political situation is also said one of reasons
(Web Desk) - Pakistan's stock market, the PSX, experienced a significant downturn on Monday, as the KSE-100 Index dropped by more than 450 points during the trading session.
As per details, by 3:10 pm, the index had fallen to 41,778.53, representing a decline of 1.1% or 463.45 points. Multiple sectors, such as automobile, chemical, cement, commercial banks, and oil, saw widespread selling, contributing to the overall negative sentiment in the market.
Persistent delay in the resumption of IMF programme driving negative sentiment, say experts.
Some circles also point toward the country's unstable political environment as a possible cause of this setback. They acknowledge that the market is closely monitoring the situation on the political front. Additionally, the failed talks between the government and Pakistan Tehreek-e-Insaf (PTI) party on agreeing to the same election date may have played a role in this decline.
