On Monday, the stock market experienced a decline attributed to political divisions and speculation surrounding the Staff Level Agreement (SLA) between Pakistan and the International Monetary Fund (IMF) regarding a long-awaited bailout tranche.
The Pakistan Stock Exchange’s benchmark KSE-100 index opened on a positive note but quickly turned bearish, sustaining a steady decline throughout the day. Ultimately, it dropped by 404.12 points, or 0.97 percent, closing at 41,195.06 points.
Market experts attributed the downturn to expectations of new taxes in the upcoming budget and Imran Khan’s statement about an 80 percent chance of his impending arrest on Tuesday. Despite attractive rates, a lack of buying interest and reduced trading volumes was observed.