KARACHI: The Pakistan Stock Exchange took a sharp dive on Monday, shedding over 600 points amid growing anxiety over the postponed federal budget announcement.
The benchmark KSE-100 index dropped 886 points intraday, reflecting widespread investor unease.
Market experts blame the delay and ongoing uncertainty over IMF conditions for the sell-off, as investors pull back ahead of critical fiscal decisions.
Investor Jitters Amid Budget Uncertainty
Chief Executive of Topline Securities, Mohammed Sohail, pointed to the delayed budget and unclear IMF terms as key factors pushing investors to reduce exposure.
Analysts also noted pressure on the oil sector due to unresolved circular debt issues and tariff concerns.
Signs of Hope Despite Market Turmoil
Despite the slump, some optimism remains.
The government’s reduced primary surplus target is expected to ease the tax burden somewhat, signaling a potentially more people-focused budget. Experts anticipate market recovery once budget details become clear.
