PSX slumps amid local political uncertainty, global economic instability

KARACHI: Yesterday (Monday), the Pakistan Stock Exchange (PSX) experienced a decline of 280 points, reflecting global market trends and local political concerns.

Early in the trading, the benchmark KSE-100 index showed gains touching an intra-day high of 79,214.27 points. However, the gains quickly turned negative with the index eventually closing at 78,615 points.

Global oil price decline: Pakistan’s chance to boost revenue, cut debt

Analysts attribute this decline to increasing uncertainty with regards to Pakistan’s political climate as well as the continued delay in the International Monetary Fund’s (IMF) approval of Rs 2.8 trillion funding for Pakistan.

A potential policy rate cut by the State Bank of Pakistan (SBP) also had an impact on yesterday’s trading.