PSX loses 677 points on IMF concerns

The Pakis­tan Stock Exchange (PSX) took a dip on Monday, as investors opted to take profits amid growing concerns over the release of the third tranche of the International Monetary Fund (IMF) loan. The market saw a volatile session, with the benchmark KSE-100 index fluctuating sharply before closing down. Ahsan Mehanti of Arif Habib Corporation attributed the bearish market performance to institutional profit-taking in an overbought market. He highlighted the impact of flat government bond yields, foreign outflows, concerns over external debt, and losses in state-owned enterprises (SOEs). Furthermore, uncertainty surrounding the outcome of the IMF’s next review, particularly the unmet conditions for provincial tax collection, added to investor anxiety. Topline Securities reported that the bourse began the “rollover week” on a volatile note. After hitting an intraday high of 586 points, the index dropped sharply by 735 points, closing at 148,815—down by 677 points, or 0.45 per cent. Investors opted for cautious trading, booking gains amid the uncertainty.