Posted 2/18/2024, 3:03:39 AM
Pakistan Stock Market Plummets Over 3,000 Points Amid Political Turmoil and IMF Bailout Uncertainty
- PSX index plunges 3,071 points (4.9%) week-on-week to 59,872 due to political uncertainty and IMF bailout concerns
- Panic selling wipes out 1,878 points in a single session early in the week
- Rejections of proposed energy sector reforms and gas price hikes further weigh on market
- Oil & gas, cement, power, and banks sectors see biggest negative contributions
- Volatility expected to continue in near term depending on political developments and IMF deal signals
