Business
Bulls drive Pakistan Stock Exchange past historic 149,000-point milestone – SUCH TV
The Pakistan Stock Exchange (PSX) on Tuesday hit a historic landmark as the benchmark KSE-100 index crossed the 149,000 barrier for the first time, buoyed by Fitch Ratings’ projection that Pakistan’s GDP growth could reach 3.5 percent by 2027 amid easing inflation.
In early trading, the index surged by 1,060.22 points, settling at a record high of 149,256.64 — a 0.71 percent rise.
Out of 443 companies traded so far, 293 saw their share prices increase, 136 declined, while 14 remained unchanged.
Adding to investor optimism, Moody’s Ratings recently upgraded Pakistan’s local and foreign currency issuer ratings, as well as senior unsecured debt ratings, from Caa2 to Caa1.
The agency also raised the rating of the senior unsecured Medium-Term Note (MTN) programme from (P)Caa2 to (P)Caa1.
Analysts link the bullish trend to stronger investor confidence, improved economic indicators, and expectations of enhanced credit conditions.
Just a day earlier, on Monday, the index had already shown bullish momentum, climbing 1,704.79 points (1.16 percent) to close at 148,196.42 points.
A total of 610,314,508 shares were traded during the day as compared to 473,601,407 shares on the previous trading day, whereas the price of shares stood at Rs39.173 billion against Rs 32.882 billion on the last trading day.
As many as 487 companies transacted their shares in the stock market, 283 of them recorded gains and 175 sustained losses, whereas the share price of 29 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 40,719,854 shares at Rs1.40 per share, Pervez Ahmed Company with 29,750,970 shares at Rs2.82 per share and Al-Shaheer Corporation with 26,351,931 shares at Rs12.24 per share.
Hoechst Pakistan Limited witnessed a maximum increase of Rs323.88 per share price, closing at Rs3,830.59, whereas the runner-up was PIA Holding Company LimitedB with Rs186.13 rise in its per share price to Rs28,001.10.
Nestle Pakistan Limited witnessed a maximum decrease of Rs259.15 per share closing at Rs8,394.94 followed by Unilever Pakistan Foods Limited with Rs100.00 decline in its share price to close at Rs31,900.00.
Meanwhile, in the future market, as many as 323 companies traded shares in the market, out of which 213 witnessed gains, 102 loss where the prices of 8 companies remained unchanged.
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Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
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March 08, 2026, 10:03 IST
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Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
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