Pakistan’s stock market fell below the physiological mark of 62,000 points on Monday as the KSE-100 index fell 1,800 points during Monday’s trade to end the day at 61,065 points.
This was the index’s ninth biggest one-day drop.
This is the second session since the February 8 general election in which it has fallen significantly. On Friday, the index fell by 2,362 points (3.68%). However, the index recovered before the end of the day and reduced the loss to around 1,200 points.
On Monday, however, Pakistan’s stock market witnessed a negative trend due to continued uncertainty and political instability. Investors remain cautious following the formation of a coalition government and ended the day 1,878 points lower than the level it closed on Monday.
According to experts, the stock market suffered damage due to the refusal of the International Monetary Fund (IMF) to approve the circular debt management plan.
The KSE-100 index came under pressure due to the delayed and unexpected election results, which took at least three days to be certified by the ECP. The results were also criticized by foreign groups for their transparency.