By Ali Imran
ISLAMABAD: The equity market opened the week under pressure and closed sharply lower on Monday, as investors reacted to the government’s decision to delay the federal budget and continued ambiguity over fiscal conditions being negotiated with the International Monetary Fund (IMF).
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 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, marking a decline of 952.40 points, or -0.80%.
The index eventually settled at 118,221.12 points, down 881.55 points, or -0.74%, at close.
“Delay in Budget announcement and lack of clarity on IMF conditions related to budget pushing investors to trim their exposure,” Muhammad Sohail, CEO of Topline Securities, told Geo.tv.
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.
