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PSX rises on IMF tranche hopes, earnings momentum

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PSX rises on IMF tranche hopes, earnings momentum


A broker is busy in trading at the Pakistan Stock Exchange (PSX) in Karachi on Thursday, December 5, 2024. — PPI

The stock market rose on Monday as investors priced in an imminent International Monetary Fund (IMF) tranche and a stabilising regional backdrop amid earnings season momentum, with rupee steadiness and firming oil prices supporting risk appetite.

During the session, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 163,935.02, gaining 2,303.29 points, or 1.43%, and registered a low of 161,892.59, reflecting a gain of 260.86 points, or 0.16%.

“Bullish activity witnessed on strong earnings outlook and imminent receipt of IMF tranche. Rupee stability and surging global crude oil prices played a catalyst role in bullish activity at PSX,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.

The International Monetary Fund’s board is expected to approve a $1.2 billion disbursement for Pakistan, with State Bank of Pakistan (SBP) Governor Jameel Ahmad telling analysts last week that a board meeting is likely by December to release funds under both the Extended Fund Facility and the Resilience and Sustainability Facility. 

On the macro front, weekly inflation measured by the Sensitive Price Indicator rose 0.12% in the week to October 30, taking the SPI to 335.53 from 335.14; on a year-on-year basis, the SPI was up 5.05%, according to the Pakistan Bureau of Statistics. 

After a losing streak earlier in the week, the market turned higher on Friday, gaining 4,898.86 points (3.13%) to close at 161,631.73 from 156,732.87. Analysts expect range-bound trade in the near term as investors track IMF timing, earnings releases, and developments on the Pakistan-Afghanistan ceasefire.





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Three stabbed, suspect fatally shot by NYPD

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Three stabbed, suspect fatally shot by NYPD


Grand Central stabbing: Three stabbed, suspect fatally shot by NYPD 

A man wielding a machete was fatally shot by police on Saturday morning, April 11, after stabbing three people.

The incident took place on a subway platform at Grand Central Terminal.

The authorities stated that the violence started around 9:50 a.m, ET on a platform beneath the busy Midtown transit hub.

The victims include an 84-year-old woman, a 65-year-old man, and a 70-year-old woman.

As reported by the New York Police Department (NYPD), one victim has sustained major injuries to the head and face, while another suffered an open skull fracture, and the third had a shoulder laceration.

All of them have been transferred to the hospital; however, their injuries are believed not to be life-threatening.

The incident was reported by a civilian, and officers confronted the man holding a machete on the platform.

Based on police reports, there was a minimum of a ten-minute stand-off. The suspects were given around twenty orders to let go of their weapons, but they lunged towards the officers.

Two shots were fired by one officer, who hit the suspect. The suspect died due to his injuries, as stated by Mayor Zohran Mamdani.

The two officers were admitted to the hospital, but both of them are stable.

The suspect was already known to law enforcement and had been arrested various times. Authorities confirmed that the incident has no association with terrorism. 





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Joe Jonas shares Coachella survival tips

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Joe Jonas shares Coachella survival tips


Joe Jonas shares Coachella survival tips

Joe Jonas knows Coachella – and more importantly, he knows how to survive it.

Back in the desert for Coachella 2026, the Jonas Brothers star pulled up not just as a performer, but as s seasoned pro with a surprisingly relatable packing list… and one very random extra.

“I’ll be filling my rental up with Aperol spritz,” he joked while heading to host a party at the Aperol Day Club.

Hydration priorities aside, Jonas says years of festival chaos taught him the basics: sunscreen, portable chargers – and apparently an Xbox. Because why not?

Between hosting duties and spontaneous moments (yes, he popped up during Teddy Swim’s set), Jonas is treating the weekend like a carefully curated vibe, not a marathon.

“The lineup’s wild. Fantastic. I think it’s going to be really great,” he said, shouting out artists like Turnstile, the xx and Teddy Swims. “Just people that I have definitely overplayed their music on my Spotify.”

He’s also keeping an eye on fellow Disney alum Sabrina Carpenter, who headlined Friday night.

“I do feel quite proud of anyone that kind of comes from the Disney-verse,” he said. “I’m so happy for her. I think she’s crushing it.”

As for his biggest tip? It’s almost anti-Coachella.

“I feel like it can get a little chaotic… Don’t chase the party. Just, hey, if you’re happy in your little area, that’s great. Doesn’t matter.”

Translation: skip the stress, keep your drink cold, and maybe… pack a gaming console.





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Journalist helped defeat New York City's pinball ban

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Journalist helped defeat New York City's pinball ban



Journalist Roger Sharpe is known as the “The Man Who Saved Pinball,” after he helped overturn New York City’s 35-year ban on the game. “CBS Saturday Morning” sits down with Sharpe to discuss the 50th anniversary of a key moment in pinball history.



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