Stocks tumble on IMF, political uncertainty

KARACHI: Despite initially beginning the week with a bullish tone, the equities came under late selling pressure on Monday, forcing the KSE 100 index to close in the red amid IMF uncertainty and mounting political tensions.

Ahsan Mehanti of Arif Habib Corporation said stocks closed lower amid a slump in global equities and concerns about political noise.

He said uncertainty over IMF approvals on the Rs2.8tr funding plan to resolve circular debt crises and expectations over cautious...