As investors await the IMF’s $1 billion tranche decision, the PSX falls more than 800 points.

As investors engaged in profit-taking ahead of an important economic review by the International Monetary Fund (IMF) for the approval of a new $1 billion loan tranche, the Pakistan Stock Exchange (PSX) continued its losing run for a second straight session.

The KSE-100 index fell 860.39 points during intraday trading to 155,280.85, a 0.55 percent decrease from the previous close of 156,141.24 points.

Negotiations for a new $1 billion tranche are anticipated to conclude this month, and the calendar for the second economic assessment under the IMF’s Extended Fund Facility (EFF) has been finalized.

The IMF mission is scheduled to arrive from September 25 to October 8, according to sources. Technical-level discussions will take place in the first phase, while policy-level conversations will take place in the second. The State Bank, the Planning Commission, the Ministry of Energy, and the Ministry of Finance will all be involved in the discussions.

The IMF team will meet separately with each of the four provinces, and discussions will also be held with other ministries and institutions, such as FBR, OGRA, and NEPRA.
According to sources, the IMF Board is expected to authorize the release of the subsequent $1 billion tranche for Pakistan following the successful completion of the second economic assessment with the IMF.

The 100-index had turned bearish the day before on Thursday, down 879.55 points, or 0.56 percent, to close at 156,141.25 points compared to 157,020.80 points on the previous working day.

During the day, 1,279,942,235 shares were exchanged, up from 996,270,293 shares the day before. The total value of shares traded was Rs50.207 billion, up from Rs52.727 billion the day before.

Up to 487 businesses exchanged their shares on the stock market; 225 saw profits, 223 saw losses, while the share prices of 39 stayed the same.