PSX loses 1,204 points after IMF trims forecast

Renewed concerns about Pakistan’s economic outlook and rising geopolitical tensions caused a wave of panic selling by cautious investors, forcing the benchmark KSE 100 index to fall below the 118,000 barrier on Wednesday. Ahsan Mehanti of Arif Habib Corporation said the PSX closed sharply lower after the IMF slashed the GDP growth forecast to 2.6pc for FY25 amid the Trump tariff blow. He added that Fitch Ratings forecast on the weakening rupee, political noise, and investor fears over the outfall of Indian-occupied Kashmir security unrest played a catalyst role in the bearish close at PSX. Topline Securities Ltd observed that the bears made a forceful comeback, snapping the four-day winning streak. The index witnessed heightened volatility, losing 1,309 points intraday before settling at 117,226 — marking a sharp decline of 1,204 points or 1.02 per cent day-on-day.