KARACHI: The Pakistan Stock Exchange (PSX) continued its bearish trend for the second month in a row, primarily due to anxious selling by investors in February. This uncertainty stemmed from concerns about tax reforms and the outcome of the upcoming first review of the $7 billion Extended Fund Facility by the International Monetary Fund (IMF).

The equity investors remained cautious throughout the month and opted to take profits at available margins. A successful IMF review would lead to the release of the second tranche, which the country direly needed to meet its external debt repayment obligations.

According to Insight Securities Ltd, the market posted a slightly negative performance in February. The benchmark KSE 100 index reached an intra-month high of 115,890 after opening at 114,525 and fell to an intra-month low of 109,406. However, by the end of the month, it managed........

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