Stocks close lower amid lack of triggers

The KSE-100 Index closed Monday’s trading session slightly lower, shedding 42.35 points, or 0.04 per cent, as investors remained cautious amid a lack of clear market triggers. The stock market remained range-bound, with sentiment largely dictated by stock-specific activity. The Pakistan Stock Exchange continued its consolidation phase as concerns raised by the International Monetary Fund (IMF) over the circular debt issue triggered a correction in exploration and production (E&P) stocks, explained Chase Securities CEO Ali Nawaz. Last week, the government announced that it is negotiating a Rs1.25 trillion loan with commercial banks to address its energy sector debt. However, the IMF has not granted its approval for this plan, adding to investor uncertainty. The lack of a green signal from the IMF has kept market participants cautious, particularly in sectors sensitive to policy shifts.