Pakistan, May 26 -- The Pakistan Stock Exchange (PSX) lost more than 600 points on Monday as investors reacted to the delay in the federal budget announcement. The benchmark KSE-100 index fell by 886 points early in the day and was still down by over 640 points by mid-afternoon. Market experts say the delay, along with uncertainty over the International Monetary Fund (IMF) conditions, caused investors to reduce their stock holdings.
Mohammed Sohail, CEO of Topline Securities, explained that the postponed budget and unclear IMF terms pushed investors to be cautious. Additionally, Yousuf M. Farooq from Chase Securities mentioned the oil sector came under pressure due to disagreements with the IMF on solving the circular debt issue. He also...
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