Amid the uncertain condition of the International Monetary Fund’s (IMF) ninth review and current political turmoil, the Pakistan Stock Exchange (PSX) lost over 600 points on Thursday during the early trade. Raza Jafri, Head of Equity at Intermarket Securities, predicted that the IMF tranche may get delayed till next year.
By 10:21 am, the benchmark KSE-100 index dropped to 41,124.12 points after losing 613.5 points (1.47 per cent). Delay in the IMF tranche and political turmoil has pressurised the market. IMF was supposed to release $1.18 billion, but the remote talks are getting rescheduled multiple times. Meanwhile, Imran Khan’s decision to dissolve assemblies has also shaken the confidence of investors. Amir Shehzad, Director of First National Equities Limited, said that Imran’s statement of dissolving the assemblies on 17th December is creating pressure on the business sector.
