Business
Pakistan Stock Exchange hits record high as KSE-100 index surges to 182,408 points | The Express Tribune
Market sentiment strengthened by fresh buying and growing hopes of a policy rate cut in the upcoming announcement
On a monthly basis, the KSE-100 has rallied 6.62%, extending its calendar year-to-date gains to a strong 29.09%, while the fiscal year-to-date performance stands at 18.30%. PHOTO:FILE
Pakistan Stock Exchange (PSX) delivered a standout performance today as the benchmark index surged to a fresh all-time high and closed at a record level of 182,408 points, firmly holding above the 182,000 mark. Investor confidence remained strong throughout the session, keeping momentum decisively on the upside.
During the day, the index touched an intraday high of 183,964.37points, while the session low was recorded at 179,535.47points, reflecting healthy intraday activity amid a strong upward trend. Buying interest remained evident across key sectors, including automobile assemblers, cement, commercial banks, and oil & gas exploration companies, indicating broad-based participation.
Market sentiment was further supported by fresh buying at the start of the New Year and growing anticipation of a potential policy rate cut in the upcoming monetary policy announcement later this month, reinforcing the market’s overall bullish tone.
At close, the benchmark KSE-100 index jumped 3,373.31 points, or 1.88% and settled at 182,408.24.
“Investors are optimistic on expectation of further monetary easing driven by improving external account position and continuous focus on reforms amid political stability,” AKD Securities Director Research Mohammed Awais Ashraf told The Express Tribune.
Subdued returns on alternative asset classes, coupled with a stronger currency, are expected to make equities the preferred investment choice in CY26, he said.
Ashraf anticipated the KSE-100 index to reach 263,800 by Dec’26, implying a return of 53.0%, or 48.4% in US dollar terms. This return positions the KSE-100 Index to reach a historic US$100bn market capitalization for the first time. He believed that improving relations with the U.S. and GCC countries will help revive investment in Pakistan.
JS Global Capital Head of Equity Research Waqas Ghani commented that the break above 180,000 reinforces “our view that improving macro stability and supportive valuations can sustain the rally.” He added that, though 2026 returns are likely to be driven more by stock selection, broad-based gains may be limited.
Topline Securities observed that the local bourse kicked off the New Year on a powerful note, as aggressive buying by local mutual funds set the tone for a decisive bullish session.
Optimism around a potential rate cut in the upcoming monetary policy meeting fuelled risk appetite, driving broad-based participation across the market. The benchmark index surged to an intraday high of 4,929 points before settling at 182,408, marking a robust gain of 3,373 points (up 1.88%). The strong close near the day’s peak underscored firm investor confidence and signalled a buoyant start to the year for equities.
Top positive contribution to the index came from United Bank, Habib Bank, Engro Holdings, , MCB Bank, Engro Fertiliser and Fauji Fertiliser, as they cumulatively contributed +1,853 points to the index, Topline added.
Overall trading volume increased to 1.38billion compared with 1.11billion from previous close. Value of traded shares stood at Rs78billion. Shares of 483 companies were traded. Of these, 256 closed higher, 197 declined and 30 remained unchanged. The Bank of Punjab was the volume leader with trading in 95.5million shares, gaining Rs0.76 to close at Rs43.09.
Last Updated:
The rider chose to work mostly after ten at night. Rapido offers a 20% incentive for rides between ten pm and six am, making late-night slots more rewarding than daytime hours.
Over four days, he rode mainly at night, sometimes starting in the evening and continuing past midnight. Image: X
It began as a simple experiment. A Bengaluru resident, curious about the buzz around gig work, decided to spend a few late nights riding for Rapido to see if the money really matched the hype. He was not looking to switch careers or become a full-time rider. He just wanted to know whether a few spare hours after work could actually make a difference to his monthly finances.
Four days later, he had more than just an answer. He had numbers, experiences and a reality check that soon went viral on Reddit, sparking a wider conversation about part-time work in the city.
Why he chose Rapido and the night shift
The rider chose to work mostly after ten at night. The reason was practical. Rapido offers a twenty percent incentive for rides between ten pm and six am, making late-night slots more rewarding than daytime hours.
Another detail that caught attention was his claim that Rapido was not charging any commission on rides at the time. While he admitted he was unsure if this was permanent or linked to regulatory issues around bike taxis, the zero-commission factor clearly boosted his take-home earnings.
For him, the goal was simple. Test whether a few hours on the road could actually translate into meaningful extra income.
How the four days unfolded
Over four days, he rode mainly at night, sometimes starting in the evening and continuing past midnight.
On the first day, he worked from six thirty in the evening to nine at night and earned Rs 170. Later, between eleven at night and one thirty in the morning, he earned another Rs 460. His total for around five hours of riding came to Rs 630.
On the second day, he stayed online for about five hours and earned Rs 750.
On the third and fourth days, he rode for roughly three to four hours each night and earned Rs 420 on both days. He noted that these days were slightly slower, with fewer ride requests compared to the earlier shifts.
By the end of the fourth day, he had enough data to calculate what part-time riding really meant in practical terms.
The final numbers
Across four days, the rider clocked a total of seventeen working hours. His gross earnings stood at Rs 2220. From this, he deducted fuel expenses of around Rs 400. That left him with a net profit of Rs 1820 for the entire period.
In simple terms, he earned just over Rs 100 per hour after accounting for petrol. For some readers, that sounded modest. For others, especially those struggling with stagnant salaries and rising living costs, it felt like a useful safety net.
When the internet joined the debate
The Reddit post quickly filled with comments from people living similar double lives.
One user shared that he works in an IT firm from two in the afternoon to ten at night, earning Rs 24000 a month. After his shift, he rides for Rapido from ten pm to six am. According to him, the money he makes on the bike often matches or even beats what he earns at his desk job.
Stories like these pushed the conversation beyond one person’s experience. They raised bigger questions about whether flexible gig work is slowly becoming more attractive than low-paying formal jobs, especially for young workers.
Who this kind of work suits best
The Bengaluru rider ended his post with a grounded conclusion. Rapido and similar platforms may not be perfect, but they work well for students, people from economically weaker backgrounds and those who have free hours late at night.
Lower traffic, higher incentives and the freedom to log in and log out without long-term commitment make gig riding easier to fit around studies or a regular job.
At the same time, he did not romanticise it. Long hours, physical strain and rising fuel costs remain real challenges. This is not easy money. But for many, it is better than having no extra income at all.
A glimpse of Bengaluru’s changing workforce
This four-day experiment reflects a bigger shift in the city’s work culture.
Bengaluru is no longer a place where one job defines a person’s identity. Today, the same individual can be a software employee by day and a bike captain by night.
The story of this part-time Rapido rider is not just about earnings. It is about how people are stitching together livelihoods in a city where ambition often moves faster than paycheques.
And in those late-night rides through quieter streets and glowing phone screens, many are finding not just fares, but a new way to stay afloat.
January 09, 2026, 06:29 IST
Stay Ahead, Read Faster
Scan the QR code to download the News18 app and enjoy a seamless news experience anytime, anywhere.
Pedestrians walk past a Saks Fifth Avenue store in Chicago, Dec. 30, 2025.
Scott Olson | Getty Images
Beleaguered retail chain Saks Global is struggling to line up as much as $1 billion in financing to keep its business afloat during a potential Chapter 11 bankruptcy filing, CNBC has learned.
The luxury chain has been working to secure a “debtor-in-possession” loan, which would allow it to fund operations in the event of a potential bankruptcy filing, people familiar with the matter said. But investors have so far shown little interest in lending Saks the money because they’re skeptical the company can successfully reorganize and pay them back, said the people, who spoke on the condition of anonymity because the discussions are private.
While DIP lenders get repaid before other creditors during bankruptcy proceedings, they don’t always recoup their full investment, and some investors are concerned that could happen if they finance Saks, the people said.
The storied 159-year-old department store, which now owns Neiman Marcus and Bergdorf Goodman, is both a destination and a symbol for luxury fashion, known for offering top brands like Chanel and Dior alongside up and comers like Good American. Across the entire enterprise, Saks Global has more than 70 full-line luxury stores and about 100 off-price locations.
Since Saks missed an interest payment to bondholders late last month, only a “limited number” of investors have shown interest in financing the DIP loan, while a number of others have declined to get involved, the people said.
Saks declined to comment on investor interest in its fundraising efforts.
A wide array of firms invest in companies that could be headed for bankruptcy, including top banks and private equity. However, the only firms likely to be interested in investing in Saks at this point are either liquidators that also have investment vehicles or alternative asset managers that have experience in distressed retail, one source said. Still, even some of those investors have declined to get involved with Saks’ DIP loan, the people said.
Liquidation is one of several potential outcomes Saks faces. However, if it can’t line up a DIP loan, which would be used to pay for essential expenses like payroll, rent and inventory, that scenario would be more likely. The retailer is already struggling to pay those costs.
Failure to line up financing would prevent Saks from filing for Chapter 11 bankruptcy, which would give the company a chance to reorganize and potentially find a buyer willing to take on its business as a going concern. It could then be faced with Chapter 7 bankruptcy, which is reserved for liquidation.
That could mean the end for one of the most fabled department stores in history, whose flagship store on Fifth Avenue, considered by some to be its most valuable asset, has become a global destination.
In the meantime, Saks has also been in talks with liquidators for a number of stores that are in the process of closing, but not yet the entire chain, the people said.
Saks’ troubles have been mounting since it acquired its longtime rival Neiman Marcus in a $2.7 billion deal in 2024, which was heavily financed with debt.
The tie-up between the two rivals was expected to create a luxury retail powerhouse that could better streamline costs and negotiate with vendors.
Instead, Saks has struggled to pay its vendors on time, leading to inventory gaps and declining sales. A slowdown in the overall luxury market, which has seen growth stagnate in recent years, has compounded the issues.
Simon Jack,BBC Business Editorand
Lucy Hooker,Business reporter
Getty ImagesA climbdown on forthcoming increases to the business rates bills faced by pubs in England is set to be announced by the government in the next few days.
The government is expected to say it will make changes to how pubs’ business rates are calculated, resulting in smaller rises to bills.
Treasury officials say they have recognised the financial difficulties facing many pubs after sharp rises in the rateable value of their premises.
The move follows pressure from landlords and industry groups that included more than 1,000 pubs banning Labour MPs from their premises.
The BBC understands it will apply only to pubs and not the whole hospitality sector.
The Treasury is also thought to be ready to relax licensing rules to allow longer opening and more pavement areas for drinking.
In her November Budget, Chancellor Rachel Reeves scaled back business rate discounts that have been in force since the pandemic from 75% to 40% – and announced that there would be no discount at all from April.
That, combined with big upward adjustments to rateable values of pub premises, left landlords with the prospect of much higher rates bills.
A campaign to dilute the impact of these rises has been gaining traction in recent weeks, with pub owners and industry groups lobbying for more support.
Conversations between the government and the hospitality sector were “ongoing”, DWP minister Dame Diana Johnson said.
Speaking to Radio 4’s PM programme, she said: “We as a government want to make business rates fairer but you’ll also know we’re coming to the end of the transitional relief that was available because of Covid.”
On Wednesday Labour MPs called on the government to rethink its support for the industry.
Conservative leader Kemi Badenoch said: “What has happened is that over Christmas Labour MPs were banned from every single pub they tried to get into… so now they are pushing for a U-turn.”
She said the Conservatives had a “much better plan” which was to “slash business rates for all of the High Street, not just pubs”. She said business rates bills of less than £110,000 would be scrapped completely.
Reform also welcomed the climbdown, saying “pubs have already been lumbered with astronomical energy costs”.
The party’s deputy leader Richard Tice said: “Pubs are the backbone of our communities and a huge part of British heritage. Their closures would be a cultural catastrophe as much as an economic one.”
To calculate a pub’s business rate bill the rateable value of its premises is multiplied by a set figure: “the multiplier”.
The government had already offered some relief by reducing the multiplier for pubs, and may be about to reduce it further.
Alternatively they could boost the £4.3bn “transitional relief” fund brought in to ease the impact of withdrawing support following the pandemic.
Geoff RobbinsGeoff Robbins, who owns the Wheatsheaf Pub in Faringdon, Oxfordshire with his wife Jo, said it was “a great relief” that more help was on the way.
His rates are due to rise by around 80% over the next three years. He needs a discount on most of that, he reckons, after factoring in higher gas, electricity and staffing costs.
“Rates are a tax against your business whether you make a profit or loss… you’ve got to pay, there’s no way round it,” said Geoff, who got in touch with BBC Your Voice.
Industry groups also welcomed news there would be additional help.
Emma McClarkin, chief executive of the British Beer and Pub Association, said it was “potentially a huge win” for the sector.
“This could save locals, jobs, and means publicans can breathe a huge sigh of relief,” she said.
Kate Nicholls, chair of UK Hospitality, representing the industry, said the support should apply not just to pubs, but to all hospitality businesses affected by rising rates, including cafés and restaurants.
“We need a hospitality-wide solution, which is why the government should implement the maximum possible 20p discount to the multiplier for all hospitality properties,” she said.
Other sectors are calling for the support to be even broader, to include live music venues, theatres, galleries, gyms and retailers.
Unpicking the recent Budget would be seen by many as another U-turn following climbdowns on winter fuel payments, disability benefits and inheritance tax on farms and family businesses.
Shadow business and trade secretary Andrew Griffith said the change showed Rachel Reeves’ Budget was “falling apart”.
“Labour were wrong to attack pubs and now have been forced into another screeching U-turn,” he said.
Liberal Democrat Treasury spokesperson Daisy Cooper said: “This is literally the last chance saloon for our treasured pubs and high streets – so the government must U-turn, today.
“These businesses are worried sick, making decisions now, and can’t wait a minute longer.”
The calculation of business rates is an issue that is devolved in all four UK nations.
The discount on rates during the pandemic only applied to hospitality businesses in England.
Scottish businesses are waiting for the Budget there next week to hear how the Edinburgh government will approach the issue.
Pubs there will hope the Scottish government follows the UK government in offering some relief.
Additional reporting by Kris Bramwell
Bengaluru Techie Tried Rapido As A Side Hustle For 4 Days: Here’s What He Made
Two people shot by US federal agents in Portland
Spurs’ Thomas Frank: Didn’t notice I was drinking out of Arsenal cup
-
Sports4 days agoVAR review: Why was Wirtz onside in Premier League, offside in Europe?
-
Business4 days agoAldi’s Christmas sales rise to £1.65bn
-
Politics4 days agoChina’s birth-rate push sputters as couples stay child-free
-
Entertainment4 days agoMinnesota Governor Tim Walz to drop out of 2026 race, official confirmation expected soon
-
Sports1 week ago
Tom Wilson’s New Year’s Eve: Two goals, a fight, a win and an Olympic nod
-
Sports4 days agoFACI invites applications for 2026 chess development project | The Express Tribune
-
Sports4 days agoSteelers escape Ravens’ late push, win AFC North title
-
Fashion4 days agoJacquemus hires new COO from Parisian label Lemaire