Business
Stocks slip amid consolidation of positions | The Express Tribune
Shares of 349 companies were traded. At the end of the day, 58 stocks closed higher. PHOTO: EXPRESS
KARACHI:
In yet another volatile session, the Pakistan Stock Exchange (PSX) on Wednesday experienced a broad-based decline as investors remained cautious, which pulled the benchmark KSE-100 index down by nearly 1,500 points.
In the morning, the market opened on a positive note, which briefly lifted the index, but early gains evaporated when investors trimmed their positions in the absence of positive triggers. The index moved in a narrow band throughout the session, fluctuating between the intra-day high of 168,161 and the low of 166,115. At close, the KSE-100 settled at 166,145.35, down 1,496.93 points, or 0.89%.
KTrade Securities observed that the PSX faced continued selling pressure after its recent strong rally, which fell just short of the all-time high hit in October. The KSE-100 index slipped 1,497 points (-0.89%). Trading remained largely range bound, where Fauji Fertiliser, Meezan Bank, United Bank, Hub Power and Engro Holdings came under pressure. On the other hand, TRG Pakistan bucked the trend along with OGDC, Pioneer Cement and Faysal Bank, it said.
Looking ahead, KTrade expected the sentiment to remain constructive, fuelled by the IMF board meeting scheduled for December 8.
Topline Securities commented that the local bourse concluded trading on a muted note, settling at 166,145 after shedding 1,497 points. The benchmark index remained highly volatile throughout the day, swinging between the intra-day peak of 168,161 and the trough of 166,115, as news of institutional selling weighed on the market.
Sentiment remained under pressure, caused by heavyweights including Fauji Fertiliser, Meezan Bank, United Bank, Hub Power and Engro. Collectively, these stocks wiped off 858 points from the index, it said.
As anticipated, the PSX continued its consolidation between the 166k and 168k range, with the KSE-100 closing at 166,145, down 1,497 points, said Arif Habib Limited Deputy Head of Trading Ali Najib. The session opened on a positive footing, briefly pushing the index to the intra-day high of 168,161 (+519 points). However, the early momentum faded as investors opted to trim positions amid the absence of fresh positive triggers, he said.
Business
IndiGo Share Price Slips 2% In Focus As Massive Flight Disruptions Hit Operations Nationwide
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InterGlobe Aviation Limited faced nationwide IndiGo flight delays and cancellations due to technology issues, congestion, weather, and new crew rostering rules.
IndiGo Plane (Representative Image)
IndiGo Share Price: Shares of InterGlobe Aviation Limited, the parent firm of IndiGo airline, slipped 2 per cent intraday to touch a low at Rs 5,405 apiece today, after the operator faced massive flight delays and cancellations nationwide due to technology issues, airport congestion, and operational requirements.
The disruption has left thousands of passengers stranded at airports. On Wednesday, multiple airports, including Delhi, Mumbai, Hyderabad, Bengaluru, Ahmedabad, reported over 100 flight cancellations till the afternoon.
The scrip was trading at Rs 5,545 apiece, with a fall of 0.88 per cent around 9.40 AM, against the previous day close at Rs 5,595 apiece.
In a statement, the airline acknowledged that its operations had been “significantly disrupted across the network for the past two days” and issued an apology to passengers.
“A multitude of unforeseen operational challenges including minor technology glitches, schedule changes linked to the winter season, adverse weather conditions, increased congestion in the aviation system and the implementation of updated crew rostering rules (Flight Duty Time Limitations) had a negative compounding impact on our operations in a way that was not feasible to be anticipated,” an IndiGo spokesperson said as stated in the statement.
To stabilise operations, the airline said it has begun calibrated adjustments to its flight schedules, a temporary measure expected to remain in place for the next 48 hours. The adjustments, it said, will help restore punctuality and limit further disruptions.
The cascading disruptions also reflect the airline’s recent struggles with punctuality. Government data showed that only 35% of IndiGo flights were on time on December 2, and 49.5% operated on time on December 1.
“Our teams are working around the clock to ease customer discomfort… affected customers are being offered alternate travel arrangements or refunds, as applicable,” the spokesperson added.
IndiGo has urged passengers to check flight status online before heading to the airport, as terminals in several cities remain crowded with stranded travellers seeking rebooking and assistance.
The airline is facing a severe pilot shortage ever since the new flight duty time limitation (FDTL) norms became applicable last month, which lay out more humane rostering for crew.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 08:43 IST
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Stocks to watch: Shares of firms like Infosys, ONGC, Pine Labs, JSW Steel, IndiGo, Tata Capital, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks to Watch on December 4: Markets saw a volatile session and settled marginally lower, extending the ongoing consolidation phase. Sentiment took a hit as the rupee weakened to a record low of 90.13 against the dollar, raising concerns over higher import costs and triggering FII outflows. Caution ahead of the MPC meeting and mixed global cues further weighed on investor mood.
During the session, the Nifty slipped below the key short-term support of the 20-DEMA near the 25,950 level, but a recovery in the final hour helped it reclaim this mark. Analysts advised investors to manage position sizes carefully and stay selective—preferring IT and pharma stocks for long trades, while looking at rate-sensitive sectors on dips.
Meanwhile, here are some of the top stocks to watch today:
ONGC:
The government has approved a one-year extension for Arun Singh as chairman of ONGC. His three-year term was set to end on December 6. Singh, who retired as chairman of Bharat Petroleum Corporation in 2022, was appointed to revive ONGC at a time when the company was facing years of declining output.
Reliance Industries:
Reliance Strategic Business Ventures, a wholly owned subsidiary of Reliance Industries, along with Surrey County Cricket Club, announced a partnership in the Oval Invincibles franchise in The Hundred. This follows a deal under which the two entities will hold 49 per cent and 51 per cent stakes, respectively, with ownership transferred from the England and Wales Cricket Board.
Infosys:
The IT major is witnessing rising client interest in India-based global capability centres (GCCs). Several new engagements are now beginning with proposals to set up GCCs before expanding into wider technology partnerships, a senior executive said on Wednesday. The company is also stepping up efforts to capture a larger share of the expanding GCC market.
Pine Labs:
The fintech firm reported a consolidated net profit of ₹5.97 crore in Q2 FY26, compared with a loss of ₹32.01 crore in Q2 FY25. Revenue from operations rose 17.82 per cent year-on-year to ₹649.9 crore from ₹551.57 crore.
Cipla:
In partnership with Stempeutics Research, Cipla announced its entry into orthobiologic medicine with the launch of Ciplostem—an allogeneic mesenchymal stromal cell (MSC) therapy for knee osteoarthritis.
JSW Steel:
Sajjan Jindal-led JSW Steel and JFE Steel Corporation will jointly own and operate the steel business of Bhushan Power and Steel Ltd (BPSL) under an equal partnership. The Japanese steelmaker will acquire a 50 per cent stake in the joint venture for ₹15,750 crore.
InterGlobe Aviation (IndiGo):
India’s largest airline has cancelled more than 300 flights over the past two days and delayed hundreds more as a growing pilot shortage disrupted operations following the implementation of new flight duty time limitation (FDTL) rules, aviation industry sources said.
RailTel Corporation of India:
The company informed exchanges that it has received a work order from the Mumbai Metropolitan Region Development Authority for a project worth ₹48.78 crore, excluding tax.
Indian Energy Exchange:
India’s leading electricity exchange recorded a monthly electricity traded volume (excluding TRAS) of 11,409 MU in November 2025, reflecting a 17.7 per cent year-on-year increase. A total of 4.74 lakh Renewable Energy Certificates were traded during the month.
Bank of Maharashtra:
The offer-for-sale (OFS) of the bank closed for subscription on Wednesday at a floor price of ₹54 per share. At this price, the government stands to raise about ₹2,492 crore by divesting its 6 per cent stake. Before the OFS, the government held 79.60 per cent in the bank. Post dilution to 73.6 per cent, the bank will meet the minimum public shareholding (MPS) norm of 25 per cent.
Tata Capital:
Sebi has passed a settlement order related to a suo motu settlement application filed by the company under the Sebi (Settlement Proceedings) Regulations, 2018. Tata Capital also said it has paid the settlement amount of ₹14,40,000.
Lemon Tree Hotels:
The company has signed a licence agreement for “Lemon Tree Hotel” at Pacific Mall, Jaipur. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.
Vintage Coffee and Beverages:
The company has launched 100 per cent pure instant coffee in India as part of its expansion into the fast-growing coffee and beverages market. Following the opening of the Vintage Coffee Café in Nerul, Navi Mumbai in September 2024, and the successful launch of two brands in the conventional roast and ground coffee segment on select e-commerce platforms, the instant coffee launch further strengthens its product portfolio and consumer reach.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 07:59 IST
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American flags flutter outside a Hyundai automobile dealership in Irvine, California, U.S., March 27, 2025.
Mike Blake | Reuters
DETROIT — Hyundai Motor and General Motors are set to be two of the greatest beneficiaries of lower U.S. tariffs on imports, including vehicles, from South Korea.
The South Korean-based automaker is the largest U.S. importer of new vehicles from the country, followed by GM. Both automakers have paid billions of dollars in levies so far this year after President Donald Trump placed 25% tariffs on imported vehicles from South Korea and other countries in the spring.
The Trump administration this past week confirmed plans to lower tariffs on certain products, including vehicles, to 15% from South Korea. A notice about the implementation of the trade deal was posted Wednesday on the Federal Register. Other countries such as Japan and the United Kingdom also have negotiated lower tariff rates with the Trump administration.
Prior to the reduction, Hyundai reported U.S. tariffs costed the company 1.8 trillion won ($1.2 billion) in the third quarter, up from 828 billion won ($565 million) in the previous quarter. GM most recently said its tariff impacts, largely from South Korea and Mexico, were expected to be between $3.5 billion and $4.5 billion in 2025.
GM CFO Paul Jacobson said Wednesday that the automaker initially expected tariffs on South Korean imports to cost $2 billion but that the company has been able to offset many of those costs. He said GM expects the levies to cost closer to $1 billion or less in 2026.
“We do think that is going to be a tailwind next year, just not as much as the whole 50% because the ultimate tariff bill that we’re going to pay this year for Korea was going to be a lot lower than the $2 billion from the stuff that we’ve been working on,” Jacobson said during a UBS conference.
The U.S. tariff announcement comes after South Korea officially introduced legislation in its parliament aiming to fulfill its promise to invest $350 billion for the U.S. over several years.
Hyundai Motor Group Executive Chair Euisun Chung delivers remarks, as U.S. President Donald Trump, U.S. House of Representatives Speaker Mike Johnson (R-LA) and Governor of Louisiana Jeff Landry stand, in the Roosevelt Room at the White House, in Washington, D.C., U.S., March 24, 2025.
Carlos Barria | Reuters
“Korea’s commitment to American investment strengthens our economic partnership and domestic jobs and industry. We are also grateful for the deep trust between our two nations,” U.S. Commerce Secretary Howard Lutnick said in a statement posted Monday on X.
Hyundai North America CEO Randy Parker said the tariffs are still challenging but better than 25% as the automaker aims for a sixth-consecutive year of record U.S. retail sales in 2026.
“Fifteen percent is still 15%,” he told CNBC during a phone interview Tuesday. “Getting to 15% is a great milestone. It’s been quite the journey reaching this agreement, which has been, I would say, quite extensive.”
Hyundai, including its Kia subsidiary that operates separately in the U.S., has significantly increased its sales and operations in the U.S. in recent years. But the automaker continues to import the majority of its vehicles — estimated to be nearly 1 million units this year — from South Korea.
GlobalData estimates more than 1.37 million vehicles, or about 8.6% of the U.S. sales this year, will be vehicles that were imported from South Korea — making the country the largest exporter of American-sold vehicles aside from Mexico.
Hyundai is expected to import more than 951,000 vehicles in 2025, according to GlobalData. That includes more than 369,000 for Kia and 582,000 for Hyundai and its luxury Genesis brand.
Hyundai aims to have more than 80% of its U.S. vehicle sales be produced locally by 2030, the company said this year. That compares with roughly 40% currently.
Despite the tariffs, GM is estimated to import nearly 422,000 vehicles from South Korea this year to the U.S., according to GlobalData. That would be a 3.6% increase compared with record imports of more than 407,000 units last year.
GM has increasingly used South Korean plants to produce popular entry-level crossovers for Chevrolet and Buick. Its U.S. sales of South Korean-produced vehicles — largely entry-level models — have risen from 173,000 in 2019 to more than 407,000 last year, according to GlobalData.
GM, in an emailed statement, said the company “appreciates that negotiators have finalized an agreement on trade between the US and South Korea.”
“GM’s long-standing Korea operations produce high-quality, affordable crossovers that complement our U.S. vehicles and domestic production, which will soon rise to 2 million units. We will be monitoring and reviewing the details,” GM said.
GM produces its Buick Encore GX and Buick Envista crossovers, as well as the Chevrolet Trailblazer and Chevrolet Trax crossovers, at plants in South Korea. The company has touted the vehicles as being a pinnacle for the automaker’s profitable growth in lower-margin, entry-level vehicles.
Detainees are made to stand against a bus before being handcuffed, during a raid by federal agents where about 300 South Koreans were among 475 people arrested at the site of a $4.3 billion project by Hyundai Motor and LG Energy Solution to build batteries for electric cars in Ellabell, Georgia, U.S. September 4, 2025 in a still image taken from a video.
U.s. Immigration And Customs Enf | Via Reuters
The new U.S.-South Korea trade deal comes months after a period of tension between the two countries following an immigration raid at a battery plant jointly owned by Hyundai and LG Energy Solution in Georgia.
About 475 workers, including more than 300 South Koreans, were arrested in the Sept. 4 raid at the plant in Ellabell, Georgia, according to U.S. immigration officials.
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