KARACHI – The Pakistan Stock Exchange (PSX) on Thursday witnessed bloodbath during intraday trading, dropping nearly 6,000 points in single day, due to selling pressure.
As of 1:15 pm, the KSE-100 nosedived 5,950.83 points to reach 172,902.26 points, a negative change of 3.33 percent, compared to previous close of 178,853.09 points.
Experts have cautioned that volatility in the stock market is expected to persist, with heightened uncertainty surrounding the upcoming review mission by the International Monetary Fund (IMF).
Market analysts suggest that investor sentiment remains fragile as concerns about the IMF’s assessment of Pakistan’s economic performance continue to mount.
The IMF mission, scheduled for later this month, will evaluate the progress of Pakistan’s $7 billion Extended Fund Facility (EFF) and may influence market conditions depending on the outcome of discussions.
Traders are closely monitoring developments related to the review, with many fearing potential challenges in meeting the IMF’s requirements.