Connect with us

Business

PSX ends flat below 146.5k on profit-taking | The Express Tribune

Published

on

PSX ends flat below 146.5k on profit-taking | The Express Tribune



KARACHI:

The Pakistan Stock Exchange (PSX) closed marginally lower on Friday as profit-taking in the latter half of the session erased early gains amid concerns over mounting losses of state-owned enterprises (SOEs), the International Monetary Fund’s (IMF) next review for loan tranche and the falling global crude oil prices.

The KSE-100 index, after touching intra-day high of 147,534, retreated to settle slightly below 146,500, down 38 points. Engro Fertilisers, Lucky Cement and Engro Holdings supported the index while Oil and Gas Development Company (OGDC), UBL and Pakistan Petroleum Limited (PPL) weighed on sentiment.

“Stocks closed flat amid concerns over SOE losses and next IMF review for the release of third tranche,” noted Ahsan Mehanti, MD of Arif Habib Corp. Worries about the unmet IMF conditions for provincial tax collection and falling global crude oil prices fueled the negative close at the PSX, he said.

At the end of trading, the benchmark KSE-100 index posted a decline of 37.67 points, or 0.03%, and settled at 146,491.63.

Arif Habib Limited (AHL), in its market review, noted that the KSE-100 closed the week flat on Friday, capping gains at 0.7% week-on-week. Some 49 stocks advanced and another 49 declined, where Engro Fertilisers (+3.25%), Lucky Cement (+2.31%) and Engro Holdings (+1.63%) were the top contributors to index gains. On the flip side, OGDC (-2.57%), UBL (-1.34%), and PPL (-2.13%) dragged the index lower, it said.

AHL mentioned that the Economic Coordination Committee had approved the setting up of an industrial estate on 4,800 acres of unused Pakistan Steel Mills’ land. For the coming week, the resistance for the index is seen near 148,000 with support around 145,000, it added.

Topline Securities, in its report, commented that the KSE-100 opened on a positive note and rose to intra-day high of 1,005 points. However, during the latter hours, profit-taking was observed as jittery investors booked profits before the weekend.

The top positive contribution to the index came from Engro Fertilisers, Lucky Cement, Engro Holdings, Meezan Bank and Airlink Communication as they contributed 512 points. On the other hand, OGDC, UBL, PPL, Hub Power and Mari Petroleum lost ground, pulling the index down by 499 points, it said.

Traded value-wise, Airlink (Rs3.38 billion), OGDC (Rs2.32 billion), PSO (Rs1.53 billion), Lucky Cement (Rs1.30 billion) and NBP (Rs1.11 billion) dominated the trading activity, Topline added.

Muhammad Hasan Ather of JS Global said that the KSE-100 closed 38 points down after trading within a tight range throughout the session. Activity remained range bound, driven by upbeat corporate earnings, and investor sentiment was underpinned by optimism about Pakistan’s improving macroeconomic indicators and recent credit rating upgrades, he said.

Despite intra-day volatility, the market held firm, reflecting growing confidence in fiscal reforms and economic recovery. Going forward, investor focus will remain on earnings season, policy continuity and external inflows, with expectations of a gradual upward trend in equities amid improving fundamentals, the analyst added.

Overall trading volumes were recorded at 473.6 million shares, compared with the previous tally of 647.1 million. The value of shares traded was Rs32.9 billion.

Shares of 479 companies were traded. Of these, 226 stocks closed higher, 219 fell and 34 remained unchanged.

Aisha Steel Mills was the volume leader with trading in 30 million shares, gaining Rs0.55 to close at Rs13.47. It was followed by Media Times with 21.7 million shares, gaining Rs0.39 to close at Rs3.62 and Airlink Communication with 19.9 million shares, gaining Rs9.76 to close at Rs168.04. Foreign investors sold shares worth Rs154 million, the National Clearing Company reported.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India

Published

on

Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India


India and the 27-nation European Union (EU) have concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides look to resolve outstanding issues and move closer to signing the deal by the end of the year, PTI reported citing an official.The five-day round, which began on October 6, focused on narrowing gaps across key areas of trade in goods and services. Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the final days to provide additional momentum to the talks.During his visit, Agrawal held discussions with Sabine Weyand, Director General for Trade at the European Commission, as both sides worked to accelerate progress on the long-pending trade pact.Commerce and Industry Minister Piyush Goyal recently said he was hopeful that the two sides would be able to sign the agreement soon. Goyal is also expected to travel to Brussels to meet his EU counterpart Maros Sefcovic for a high-level review of the progress made so far.Both India and the EU have set an ambitious target to conclude the negotiations by December, officials familiar with the matter said, PTI reported.Negotiations for a comprehensive trade pact between India and the EU were relaunched in June 2022 after a hiatus of more than eight years. The process had been suspended in 2013 due to significant differences over market access and tariff liberalisation.The EU has sought deeper tariff cuts in sectors such as automobiles and medical devices, alongside reductions in duties on products including wine, spirits, meat, and poultry. It has also pressed for a stronger intellectual property framework as part of the agreement.For India, the proposed pact holds potential to make key export categories such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery more competitive in the European market.The India-EU trade pact talks span 23 policy chapters covering areas such as trade in goods and services, investment protection, sanitary and phytosanitary standards, technical barriers to trade, rules of origin, customs procedures, competition, trade defence, government procurement, dispute resolution, geographical indications, and sustainable development.India’s bilateral trade in goods with the EU stood at $136.53 billion in 2024–25, comprising exports worth $75.85 billion and imports valued at $60.68 billion — making the bloc India’s largest trading partner for goods.The EU accounts for nearly 17 per cent of India’s total exports, while India represents around 9 per cent of the bloc’s overall exports to global markets. Bilateral trade in services between the two partners was estimated at $51.45 billion in 2023.





Source link

Continue Reading

Business

Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India

Published

on

Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India


The gap between telecom operators’ network expenditure and revenue continues to widen, prompting industry body COAI to defend calls for higher mobile tariffs, citing the increasing financial burden of network deployment on service providers.Speaking at the India Mobile Congress, Cellular Operators Association of India (COAI) Director General, SP Kochhar, told PTI that while the government has provided significant support to telecom operators through policies such as the right of way (RoW), several authorities continue to levy exorbitant charges for laying network elements.“Earlier, the gap until 2024 for infrastructure development and revenue received from tariffs was around Rs 10,000 crore. Now it has started increasing even further. Our cost of rolling out networks should be reduced by a reduction in the price of spectrum, levies etc. The Centre has come out with a very good ROW policy. It is a different matter that many people have not yet fallen in line and are still charging extremely high,” Kochhar said.He also defended the recent cut in data packs for entry-level tariff plans by select operators, stressing that the move was necessary given competitive pressures.Kochhar pointed out that competition among the four telecom operators remains intense, and there has been no significant trend suggesting that consumers are shifting towards low-cost data options.“There is a need to find ways to make high network users pay more for the data. Seventy per cent of the traffic which flows on our networks is by 4 to 5 LTGs (large traffic generators like YouTube, Netflix, Facebook etc). They pay zero. Nobody will blame OTT but they will blame the network. Our demand to the government is that they [LTGs] should contribute to the development of networks,” Kochhar said.He added that the investments made by Indian telecom operators are intended for the benefit of domestic consumers and are not meant to serve as a medium for profit for international players who do not bear any cost.





Source link

Continue Reading

Business

Indias Real Estate Equity Inflows Jump 48 Pc In Q3 2025: Report

Published

on

Indias Real Estate Equity Inflows Jump 48 Pc In Q3 2025: Report


NEW DELHI: Equity investments in India’s real estate sector jumped 48 per cent year-on-year to $3.8 billion in the July-September period (Q3), a report said on Friday. This growth in inflow was primarily fuelled by capital deployment into land or development sites and built-up office and retail assets, according to the report by real estate consulting firm CBRE South Asia.

In the first nine months of 2025, the equity investments increased by 14 per cent on-year to $10.2 billion — from $8.9 billion in the same period last year.

The report highlighted that land or development sites and built-up office and retail assets accounted for more than 90 per cent of the total capital inflows during Q3 2025.

Add Zee News as a Preferred Source


On the category of investors, developers remained the primary drivers of capital deployment, contributing 45 per cent of the total equity inflows, followed by Institutional investors with a 33 per cent share.

CBRE reported that Mumbai attracted the highest investments at 32 per cent, followed by Pune at around 18 per cent and Bengaluru at nearly 16 per cent.

Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said that the healthy inflow of domestic capital demonstrates the sector’s resilience and depth.

“In the upcoming quarters, greenfield developments are likely to continue witnessing a robust momentum, with a healthy spread across residential, office, mixed-use, data centres, and I&L sectors,” he added.

In addition to global institutional investors, Indian sponsors accounted for a significant part of the total inflows.

“India’s ability to combine strong domestic capital with global institutional participation will remain a key differentiator in 2026 and beyond,” added Gaurav Kumar, Managing Director, Capital Markets and Land, CBRE India.

CBRE forecasts a strong finish for the investment activity in 2025, fuelled by capital deployment into built-up office and retail assets.

For the office sector, the limited availability of investible core assets for acquisition indicate that opportunistic bets are likely to continue gaining traction, the report noted.



Source link

Continue Reading

Trending