Pakistan stocks plummet amid questions over IMF bailout

Author:

daniel fountain

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ID:

1557757414392386900

Mon, 2019-05-13 17:41

KARACHI: Pakistan’s main share index plunged by 2.35 percent on Monday, amid investors’ concerns over the conditions for a $6 billion International Monetary Fund (IMF) bailout package announced the day before.
The Karachi Stock Exchange KSE100 Index started the day positively before bearish sentiment took hold, with the index closing below 34,000 points.
“The market opened on a buoyant note before panic-prone investors started to jettison shares,” said Muhammad Faizan, an analyst at brokerage Next Capital Limited.