Business
PSX breaks 150k barrier, hits another record | The Express Tribune

KARACHI:
The Pakistan Stock Exchange (PSX) soared past another record on Tuesday, breaking the 150,000 mark for the first time ever during intra-day trading.
Analysts remarked that bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in banking and cement sectors. Additionally, investor sentiment was bolstered by a positive economic outlook from both Fitch and Moody’s and the government’s attempts to settle the circular debt.
The sustained momentum propelled the KSE-100 index to the intra-day high of 150,323, before it closed at 149,770.75, an increase of 1,574.32 points, or 1.06%.
According to Ahsan Mehanti of Arif Habib Corp, stocks closed at an all-time high as investors weighed Fitch and Moody’s robust economic outlook, with Fitch projecting growth of 3.5% for FY27. Additionally, the government’s plans to cut Rs2.6 trillion worth of circular debt alongside upbeat data of exports, cement dispatches and rupee stability drove the PSX to the record close, he noted.
At the end of trading, the benchmark KSE-100 index recorded an increase of 1,574.32 points, or 1.06%, and settled at 149,770.75.
In its market review, Topline Securities remarked that the bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in banking and cement sectors. According to a Topline analyst, cement sales are gaining momentum in August and earnings could exceed expectations.
The sustained optimism propelled the benchmark KSE-100 index to intra-day high of 150,323, up 2,127 points, before it closed at an all-time high of 149,771, marking a net gain of 1,574 points, it said.
The rally was largely fuelled by index heavyweights including Bank AL Habib, UBL, Lucky Cement, Meezan Bank and Engro Corporation, which contributed 1,306 points to the index’s upward trajectory.
In its commentary, Arif Habib Limited (AHL) stated that the KSE-100 witnessed another strong session, with the index unlocking 150,000 points intra-day. Some 60 shares rose while 40 fell, with Bank AL Habib (+10%), Lucky Cement (+4.13%) and Meezan Bank (+3.63%) contributing the most to index gains.
On the flip side, Fauji Fertiliser Company (-0.75%), Oil and Gas Development Company (-1.58%) and Hub Power (-1.38%) were the biggest drags, it said.
Systems Limited (-1.51%) announced its 1HCY25 earnings per share (EPS) of Rs3.52, an increase of 59%, which was in line with expectations. The increase was primarily driven by higher technology services’ exports and improved gross margins, AHL noted.
Additionally, Pakistan State Oil (PSO) reported FY25 EPS of Rs45.11, an increase of 33% year-on-year, and dividend per share of Rs10, which was also in line with expectations.
Kot Addu Power Co and Fauji Foundation jointly submitted an offer to Pharaon Investment to buy its 84.06% stake in Attock Cement (-1.48%). Moreover, Oil and Gas Development Company (-1.58%) and Pakistan Petroleum (-1.57%), in separate meetings, approved an increase in pro rata funding commitment, including the project cost to $715 million.
“Near term support rises to 147,500-148,300 points, against which immediate gains are anticipated to continue,” AHL concluded.
AHL Deputy Head of Trading Ali Najib remarked that the KSE-100 index sustained its bullish streak, briefly unlocking the 150k milestone intra-day before closing the session higher, reflecting renewed investor optimism. Macro developments also lent support as Fitch’s improved outlook on Pakistan’s banking sector boosted sentiment, citing stronger capital buffers, improving credit growth potential and a healthier macro backdrop, he stated.
Overall trading volumes increased to 809.1 million shares compared with Monday’s tally of 610.3 million. Traded value stood at Rs48.4 billion. Shares of 483 companies were traded. Of these, 265 stocks closed higher, 194 dropped and 24 remained unchanged.
WorldCall Telecom was the volume leader with trading in 52.3 million shares, gaining Rs0.05 to close at Rs1.45. It was followed by The Bank of Punjab with 46.1 million shares, gaining Rs0.33 to close at Rs14.76 and Fauji Cement with 43.7 million shares, gaining Rs2.98 to close at Rs53.48. Foreign investors sold shares worth Rs488 million, the National Clearing Company reported.
Business
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.
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

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.
Business
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.
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.
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