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Pakistan Stock Exchange: KSE-100 Slips Below 166,200 as Selling Pressure Deepens for Second Straight Session | The Express Tribune

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Pakistan Stock Exchange: KSE-100 Slips Below 166,200 as Selling Pressure Deepens for Second Straight Session | The Express Tribune


The Pakistan Stock Exchange witnessed yet another volatile session on Tuesday, with the KSE-100 index shedding 1,578.66 points, or 0.94%, to close at 166,173.75.

After opening on a slightly positive note, the index touched an intra-day high of 168,518.97, but selling pressure resurfaced, dragging the index down to an intra-day low of 165,997.21, nearly revisiting Monday’s bottom.

This marks the second consecutive session of downward movement, following a 0.73% drop on Monday. Despite early optimism, investor sentiment remained cautious, prompting widespread profit-taking across key sectors.

The KSE-100’s inability to sustain gains and its retreat to the 166,000 level highlights the market’s current fragility. With no strong triggers in sight, the index appears to be in a consolidation phase, hovering around key support zones.

Additionally, sentiment remained cautious over the State Bank of Pakistan’s (SBP) Governor Jameel Ahmad’s assertion that inflation is holding steady, although further interest-rate cuts will depend on the impact of the recent floods and the outcome of an ongoing International Monetary Fund (IMF) review, Bloomberg reported. 

Market participants remain on alert, watching for any economic or political cues that might break the ongoing selling streak.
Arif Habib Limited (AHL) observed that Tuesday was the second session of selling pressure with the KSE-100 trading down to Monday’s low of 166,000.

Some 26 shares rose while 73 fell with Habib Bank (+3.56%), Engro Fertiliser (+1.54%) and Askari Bank (+3.85%) contributing the most to index gains. On the flip side, Hub Power (-3.75%), Engro Holdings (-2.7%) and Lucky Cement (-3.09%) were the biggest index drags, it said.

In monetary news, the SBP Governor sees inflation holding steady, although further interest-rate cuts will depend on the impact of the recent devastating floods and the outcome of an ongoing IMF review.

We see that 166,000 is setting up as a key level for the index, which will need to immediately regain 167,200 to target the 170,000 level, AHL added.

Overall trading volume slightly decreased to Rs1.26 billion from Monday’s tally of 1.27b. Value of shares stood at Rs54.2b.

Shares of 487 companies were traded. Of these, 183 closed higher, 267 fell and 37 remained unchanged. Pakistan Telecommunication Company was the volume leader with trading in 189.7 million shares, falling by Rs0.27 to close at Rs31.14.



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‘Side Hustle Generation’: Over 50% Of US Gen Z Opting For Extra Gigs Amid Economic Uncertainty

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‘Side Hustle Generation’: Over 50% Of US Gen Z Opting For Extra Gigs Amid Economic Uncertainty


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At least 57% of Gen Z in the US now have side gigs, from retail to gig work, amid economic uncertainty and concerns over the impact of AI on jobs.

Gen-Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success.  (AI-Generated Image)

Gen-Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. (AI-Generated Image)

Amid widespread economic uncertainty, more than half of the Gen Z population in the United States is opting for side gigs to navigate the job market and for extra cash.

At least 57% of Gen Z in the US now have side gigs, compared to 21% of boomers and older, according to The Harris Poll, which dubbed them “America’s first true ‘side hustle’ generation.”

Most of them are picking up side hustles, from retail to gig work, for extra cash. Younger people “want to work [and] find success, but many of them just feel disillusioned with the opportunities to get there through the traditional career ladder,” Glassdoor chief economist Daniel Zhao told Axios.

Role Of AI

In an August report, Glassdoor researchers said that some of the youths are chasing creative or entrepreneurial goals. Moreover, AI and other technological advances have made it easier for professionals to monetise their skills and passions.

“We’re witnessing a true side hustle generation where work identity lives outside of traditional employment. Additional commentary and research also shows that there’s a growing number of Employee+ workers who diversify income streams without abandoning job security,” Glassdoor said.

“For Gen Z, the day job funds the passion project. Work pays the bills, but identity and fulfilment can come from entrepreneurial pursuits, creative endeavours, or social causes they care about,” it added.

Why Are Gen-Z Opting For Side Gigs?

One of the main reasons for this shift is job anxiety. Recent graduates are struggling to secure jobs, while those with them aren’t seeing the career growth they expect, according to Zhao.

Data shows that the financial optimism for college students has fallen to their lowest level since 2018, mostly due to concerns over unemployment and ‘AI-induced layoffs’. The advent of AI remains the most pressing concern among young workers.

As per The Harris Poll, Gen Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. Side hustles are not merely distractions or fallback options; they are central to Gen Z’s identity, offering creative, entrepreneurial, or activist outlets that main jobs cannot supply.

“It definitely makes me feel more financially secure,” Katie Arce, who works full-time in e-commerce and picks up shifts at a vintage clothing store in Austin, Texas, told Axios.

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‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference

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‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference


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PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform.

PM Modi speaking at the inauguration of Vibrant Gujarat Regional Conference. (PTI)

PM Modi speaking at the inauguration of Vibrant Gujarat Regional Conference. (PTI)

Prime Minister Narendra Modi on Sunday said that India’s political stability and strong macroeconomic fundamentals are driving global investor confidence, with Gujarat emerging as a key anchor of the country’s growth story.

While addressing the Vibrant Gujarat Regional Conference in Gujarat, the Prime Minister highlighted India’s economic trajectory, saying that the country is the world’s fastest-growing major economy, with inflation under control and a strong foundation for long-term growth. He said that reform express is driving India’s journey to developed nation status.

He highlighted that India is the largest producer of milk and a leading manufacturer of generic medicines, reflecting the country’s growing strength in both agriculture and pharmaceuticals.

He noted that global institutions are increasingly bullish on India, with the International Monetary Fund (IMF) describing the country as the engine of global growth.

“India is the world’s 3rd largest startup ecosystem, 3rd largest aviation market, we are in the top 3 metro networks of the world,” he said, asserting that the country is heading to become the world’s 3rd largest economy.

PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform. He highlighted that India is now the second-largest mobile manufacturer, whereas earlier the country imported nine out of ten phones.

The Prime Minister also underlined Gujarat’s contribution to India becoming the world’s third-largest economy, noting that the state has grown across sectors. He said regions like Saurashtra and Kutch, once seen as remote, have now become major drivers of Atmanirbhar Bharat and investment-led growth.

Highlighting Saurashtra’s manufacturing strength, with over 2.5 lakh MSMEs producing goods ranging from basic tools to high-precision aircraft components, PM Modi pointed to the region hosting the world’s largest ship-breaking yard and being a major hub for tile manufacturing.

He further said that India’s first semiconductor fabrication plant is coming up in Dholera, with the land ready and a predictable policy environment supporting long-term growth.

Vibrant Gujarat Regional Conference

PM Modi on Sunday inaugurated the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra regions.

The event saw the presence of Gujarat Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi, among other dignitaries.

He also inaugurated 13 New Smart Industrial Estates in 7 Districts (Amreli, Bhavnagar, Jamnagar, Kutch, Morbi, Rajkot and Surendranagar) spanning an area of over 3540 Acres by Gujarat Industrial Development Corporation before his address on Sunday.

The two-day conference summit will highlight Gujarat’s leadership in the clean energy sector and its alignment with India’s ‘Panchamrit’ commitments announced by the Prime Minister. These include achieving 500 GW of non-fossil energy capacity by 2030, meeting 50 per cent of energy requirements from renewable sources, reducing projected carbon emissions by 1 billion tonnes, lowering carbon intensity by 45 per cent by 2030, and attaining net-zero emissions by 2070.

News india ‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference
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‘You’ve Restored India’s Civilisational Self-Belief’: Mukesh Ambani Praises PM Modi At Vibrant Gujarat

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‘You’ve Restored India’s Civilisational Self-Belief’: Mukesh Ambani Praises PM Modi At Vibrant Gujarat


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Reliance Industries chairman and managing director Mukesh Ambani said PM Narendra Modi’s vision has reshaped India’s trajectory for the next 50 years

Reliance Industries chairman and managing director speaks at the Vibrant Gujarat Regional Conferences on January 11, 2025. (Image: Vibrant Gujarat/YouTube)

Reliance Industries chairman and managing director speaks at the Vibrant Gujarat Regional Conferences on January 11, 2025. (Image: Vibrant Gujarat/YouTube)

Reliance Industries chairman and managing director Mukesh Ambani had high praise for Prime Minister Narendra Modi, who inaugurated the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra regions on Sunday.

Ambani said Modi’s vision has reshaped India’s trajectory for the next 50 years, while also restoring the country’s “civilisational self-belief”. 

“Most respected prime minister, you have restored to India its civilisational self-belief. Never in history of India have we seen so much hope, self confidence, and so much vibrancy as we do now,” Ambani said during his address at the conference.

Congratulating Modi for the “great honour for Saurashtra and Kutch” that he was personally present, he started his address by referring to the prime minister’s visit to Somnath temple for the ‘Somnath Swabhiman Parv’ earlier in the day.

“Let me start with ‘Jai Somnath’. The positive vibrations from our dear prime minister’s prayers from Somnath are resonating across Gujarat and India. I congratulate our PM for the great honour for Saurashtra and Kutch that he is personally present for the Vibrant Gujarat regional summit (conference). After 20 years in Gandhinagar, we are privileged to take part in the regional summit here in Rajkot,” he said.

Ambani said history will record the “Modi era” as when India moved from “potential to performance, aspiration to action, follower to becoming a global force”.

“Your (Modi’s) vision has reshaped India’s trajectory for the next 50 years and more. History will record that the Modi era is when India moved from potential to performance, from aspiration to action, from being a follower to becoming a global force,” he said.

Calling Modi the “invincible, protective wall” of India, he said the PM is the reason why global challenges cannot “touch or trouble” the country.

“All of us know that the world is changing very fast, the geopolitical situation is creating new challenges including some unexpected turbulence but what is reassuring for India is that these challenges can’t touch or trouble our people. This is because India has the invincible, protective wall called Narendrabhai Modi. Let the world know that this is India’s defining decade, under the PM’s leadership, India’s not just preparing for the future but India’s shaping it,” he added.

Modi inaugurated the event in the presence of Gujarat Chief Minister Bhupendra Patel and deputy CM Harsh Sanghavi, among other dignitaries. The two-day conference will highlight Gujarat’s leadership in the clean energy sector and its alignment with India’s ‘Panchamrit’ commitments announced by the PM.

These include achieving 500 GW of non-fossil energy capacity by 2030, meeting 50 per cent of energy requirements from renewable sources, reducing projected carbon emissions by 1 billion tonnes, lowering carbon intensity by 45 per cent by 2030, and attaining net-zero emissions by 2070.

(With agency inputs)

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