Political worries, global equity slump hit PSX

Pakistan Stock Exchange (PSX) on Monday faced a downward trajectory amid volatile trading as the KSE-100 index dipped over 280 points, following a broad slump in global equities and political instability worries. In the morning, the index kicked off trading on a promising note, reaching its intra-day high of 79,214.27 points. However, the early optimism quickly vanished when the bourse reversed course and fell sharply. The downward streak was triggered by uncertainty about the International Monetary Fund's (IMF) approval of Pakistan's Rs2.8 trillion funding plan to address the circular debt crisis. Additionally, investor caution ahead of the potential policy rate reduction by the State Bank of Pakistan (SBP) later in the week exacerbated the bearish activity.