The Pakistan Stock Exchange (PSX) experienced a continued downward trend on Monday, influenced by the volatile political climate. The KSE-100 index fell by 364 points, trading at 79,753 points, slipping below the 80,000 mark.
This downturn follows a bearish trend observed at the end of last week, after a brief period of gains. Last Friday, the KSE-100 index lost 1,229 points, closing at 80,610 points.
However, the market had previously been on an upward trajectory, gaining 676 points and reaching a record high of 81,839 points on Thursday. This surge was largely attributed to the Staff-level agreement reached with the International Monetary Fund (IMF) and encouraging fiscal stability reports from international financial agencies like Moody’s and Fitch.
These positive reports suggested that the IMF agreement would help Pakistan achieve macroeconomic stability, boosting investor confidence. However, the recent political volatility has overshadowed these gains, leading to the current downward trend in the PSX.
