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Investors take profit after two days of gains | The Express Tribune
Benchmark KSE-100 index closes up 30 points at 36,265.12. PHOTO: AFP/FILE
KARACHI:
The Pakistan Stock Exchange (PSX) on Tuesday reversed course after two days of notable gains as investors resorted to profit-booking at higher valuations, pulling the benchmark KSE-100 index down by over 1,500 points.
The market’s downturn was primarily triggered by selling in blue-chip shares from fertiliser, energy, banking and technology sectors. The battle for control between bulls and bears continued for almost throughout the day and eventually the latter prevailed.
In the morning, the market got off to a positive start, when it hit the intra-day high of 163,385 points. It remained in the black for only a brief period and dropped quickly. Following continuous fluctuations, the index reached its intra-day low of 161,159 more than an hour before the end of trading.
At close, the KSE-100 index registered a significant fall of 1,521.39 points, or 0.93%, and settled at 161,281.77.
In its review, Topline Securities said bears returned to the stock market as investors booked profits after a two-day rally. “The local bourse witnessed renewed bearish sentiment where investors opted for profit-taking. The KSE-100 index remained under pressure for most of the day, touching the intra-day low of 1,643 points before settling at 161,282, down 1,521 points (0.93%),” it said.
Blue-chip counters including Engro, Mari Petroleum, Bank AL Habib, MCB Bank and TRG Pakistan led the decline, which collectively eroded 543 points from the benchmark index.
Despite the negative close, the overall market activity stayed vibrant, with trading volumes rising to 899 million shares and traded value reaching Rs37 billion, Topline added.
Arif Habib Limited (AHL) reported that Tuesday saw a consolidation phase following two sessions of strong gains. On the KSE-100 index, 17 shares rose while 81 fell with Fauji Fertiliser Company (+1.77%), Pakistan Services (+9.62%) and DH Partners (+10%) contributing the most to index gains. Engro Holdings (-1.6%), Mari Petroleum (-2.06%) and Bank AL Habib (-2.32%) were the biggest index drags, it said.
AHL pointed out that Finance Minister Muhammad Aurangzeb in a virtual speech at the Pakistan International Maritime Expo & Conference said that seafood exports could cross $2 billion in the next three to four years compared to the current exports of $500 million.
Among corporate news, Fauji Cement (-1.75%) and Kapco (-1.44%) will jointly acquire 84.06% of the total issued and paid-up capital of Attock Cement. “The upside is anticipated to resume from the current support zone, which is 160-162k,” AHL remarked.
Overall trading volumes decreased to 899.4 million shares compared with the previous tally of 949.4 million. The traded value of shares stood at Rs37.3 billion.
Shares of 479 companies were traded on the ready market, out of which 133 closed higher, 314 declined and 32 remained unchanged.
WorldCall Telecom led the volumes chart with trading in 78.9 million shares, losing Rs0.04 to close at Rs1.81. It was followed by Telecard Limited with 76.9 million shares, rising Rs0.81 to close at Rs12.68 and K-Electric with 71.6 million shares, gaining Rs0.23 to close at Rs5.52. Foreign investors were sellers of shares worth Rs717.8 million, according to NCCPL.
Millions could be entitled to compensation as a result of commission arrangements between lenders and dealers.
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New Delhi: The Unique Identification Authority of India (UIDAI) has deactivated more than 2.5 crore Aadhaar numbers of deceased persons till date. This is as part of a nationwide clean-up effort to maintain the continued accuracy and integrity of the Aadhaar database, Union Minister of State for Electronics and Information Technology Shri Jitin Prasada in Lok Sabha on Wednesday.
Aadhaar is the world’s largest biometric identity system with approximately 134 crores live Aadhaar holders.
In case of the death of a person, it is essential that his/her Aadhaar number is deactivated to prevent potential identity fraud, or unauthorized usage of such Aadhaar number for availing welfare benefits.
The State / UT mentioned in the address of an Aadhaar number holder in the Aadhaar database may vary from the State / UT where death was registered.
Measures to prevent potential identity fraud
Government has said that several measures have been taken to reduce the risk of identity fraud and ensure leak-proof delivery of benefits in the country.
The key measures include:
Biometric Lock/Unlock feature enables an Aadhaar number holder to “Lock” his biometrics, preventing any unauthorized authentication attempts.
Aadhaar Lock/Unlock feature for an Aadhaar number holder.
Deployment of Face Authentication having ‘Liveness Detection feature’ to prevent spoofing and ensure the physical presence of the beneficiary during transactions.
Offline Verification: Promotion of Aadhaar Secure QR Code, Aadhaar paperless offline e-KYC, e-Aadhaar and Aadhaar verifiable credentials for offline identity verification.
No sharing of Core Biometric information of Aadhaar number holders in any manner by UIDAI.
Secure Data Storage: Mandatory use of Aadhaar Data Vaults by all requesting entities to store Aadhaar numbers in an encrypted format.
Database Sanitization: Regular de-duplication and deactivation of Aadhaar numbers belonging to deceased persons.
Updation of demographic details of an Aadhaar number holder is allowed only as per documents listed by UIDAI.
UIDAI has launched a new Aadhaar app which facilitates sharing of verified credentials by Aadhaar number holder with the Offline Verification Seeking Entities (OVSE) in a secure and seamless manner.
New Delhi: February 2026 brings a series of important deadlines related to Tax Deducted at Source (TDS) that taxpayers and deductors should not overlook. From issuing TDS certificates to submitting mandatory statutory forms, these compliance dates play a key role in ensuring smooth and accurate tax reporting. Businesses, employers, and government offices must stay alert and complete the required filings on time to avoid penalties or complications under the Income-tax Act. Keeping track of these dates can help ensure hassle-free compliance and prevent last-minute stress.
February 14:
– Deadline for issuing TDS certificate under Section 194-IA for tax deducted on transfer of immovable property in December 2025.
– Deadline for issuing TDS certificate under Section 194-IB for tax deducted on rent paid by individuals or HUFs in December 2025.
– Deadline for issuing TDS certificate under Section 194M for tax deducted on contractual or professional payments made in December 2025.
– Deadline for issuing TDS certificate under Section 194S for tax deducted on transfer of virtual digital assets by specified persons in December 2025.
February 15:
– Deadline for government offices to furnish Form 24G where TDS/TCS for January 2026 was deposited without generating a challan.
– Deadline for issuing the quarterly TDS certificate for non-salary payments for the quarter ended December 31, 2025.
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