The bulls lost momentum at the bourse on Monday, as budget-related uncertainty and unresolved talks with the International Monetary Fund (IMF) cast a shadow over investor sentiment.
“Delay in Budget announcement and lack of clarity on IMF conditions related to budget pushing investors to trim their exposure,” said Muhammad Sohail, CEO of Topline Securities.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 118,221.12 points, down 881.55 points, or -0.74%, at close.
The index climbed to an intraday high of 119,290.94 points, gaining 188.27 points, or 0.16%, from the previous close of 119,102.67, before retreating to a low of 118,150.27 points, down 952.40 points, or -0.80%.
The federal government has rescheduled the presentation of the Budget 2025–26 to June 10, moving it from the previously planned date of June 2, as talks with the IMF on revenue and spending targets remain unresolved.
The Economic Survey FY2025, a snapshot of the outgoing year’s economic performance, will be released on June 9, according to the Ministry of Finance.
The IMF, which concluded its staff-level visit to Islamabad, has said that discussions on Pakistan’s fiscal framework for FY26 will continue over the coming days.
On Friday, the market had closed with a marginal loss of 50.37 points, or -0.04%, at 119,102.67, after trading between 119,542.52 and 118,665.26 points.
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