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KSE-100 crosses 158,000 mark, sets new all-time high

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KSE-100 crosses 158,000 mark, sets new all-time high


Broker is busy in trading at the Pakistan Stock Exchange (PSX) in Karachi on Wednesday, October 23, 2024. — PPI
  • KSE-100 Index closed at 157,953.46 points, up 1,775.65 points, or 1.14%.
  • Index touched intraday high of 158,082.55, up 1,904.74 points, or 1.22%.
  • Session’s low recorded at 156,978.85, still up 801.04 points, or 0.51%.

The equity market advanced sharply on Thursday, closing at a fresh record as investor sentiment was buoyed by a landmark Strategic Mutual Defence Agreement signed between Pakistan and Saudi Arabia.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 157,953.46 points, up 1,775.65 points, or 1.14%, from the previous close of 156,177.81. 

During the session, the index climbed to an intraday high of 158,082.55 points, gaining 1,904.74 points, or 1.22%. The session low was recorded at 156,978.85 points, still higher by 801.04 points, or 0.51%.

“The news about the defence partnership has brought excitement across the board. This is a major macro rerating game changer that can pour more liquidity and reduce risk premium,” AAH Soomro, an independent investment and economic analyst.

“The index may head upwards without corrections,” he added.

Pakistan and Saudi Arabia on Wednesday formalised a landmark Strategic Mutual Defence Agreement, pledging to treat any aggression against one country as aggression against both.

The pact was signed during Prime Minister Shehbaz Sharif’s state visit to Riyadh, where he was received by Crown Prince and Prime Minister Mohammed bin Salman at Al-Yamamah Palace.

The pact reflects a joint commitment to enhance bilateral security ties and contribute to regional and global peace, the statement said. It aims to develop defence cooperation further and strengthen joint deterrence against any aggression. Crucially, the agreement stipulates that any aggression against one country shall be considered aggression against both.

The government also raised Rs195 billion from the auction of market Treasury bills (T-bills) on Wednesday, surpassing its Rs175 billion target. However, it rejected bids for the 10-year floating-rate Pakistan Investment Bond (PIB) as investors demanded higher returns.

The T-bill auction drew participation worth Rs1.07 trillion, with yields ending nearly flat. The cut-off yield on a one-month paper eased by 1 basis point (bp) to 10.7445%. The three-month bill yield stood unchanged at 10.8502%, while the six-month paper edged down 1bp to 10.8376%. The 12-month yield also stayed steady at 10.9999%.

The State Bank of Pakistan (SBP) on Monday held its policy rate steady at 11% for the third consecutive meeting, citing inflation concerns amid devastating floods. Since June 2024, the central bank has slashed rates by a total of 1,100bps, but kept them unchanged in June, July, and now September.

By comparison, in the previous session on Wednesday, the KSE-100 Index closed almost flat, down 3.12 points to 156,177.82 from 156,180.94. The day’s high was 157,196.59 points, while the low stood at 155,960.36 points.





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‘K-Pop Demon Hunters’ gives exciting update on second part

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‘K-Pop Demon Hunters’ gives exciting update on second part


‘K-Pop Demon Hunters’ to release second sequel 

A sequel to Netflix‘s hit animated film K-Pop Demon Hunters has reportedly been confirmed, and has gotten a release date.

As per Deadline, K-Pop Demon Hunters has been officially been greenlit by Netflix and Sony, just months after the hit film’s release.

While details remain scarce, the report indicates that K-Pop Demon Hunters 2 is slated to release sometime in 2029.

Additionally, creator-director Maggie Kang and co-director Chris Appelhans are set to return for the second installment.

Plans for an animated sequel were being discussed as early as August 28, just days after the original film’s release.

Released on August 23, the Netflix movie tells the story of a group of internationally renowned K-Pop idols who lead a double life as demon hunters.

K-Pop Demon Hunters almost immediately became the most watched film in Netflix history, and its success was bolstered by sing-along screenings held in cinemas, reportedly grossing around $20million in a single weekend.

Following the success of the film, rumours began circulating that a live-action remake is being considered however, creator and director of the film, Maggie Kang, told the BBC she doesn’t like that idea.

“There’s so many elements of the tone and the comedy that are so suited for animation,” she said, adding, “It’s really hard to imagine these characters in a live-action world. It would feel too grounded. So totally it wouldn’t work for me.”

Co-director Chris Appelhans agreed, saying, “One of the great things about animation is that you make these composites of impossibly great attributes. Rumi can be this goofy comedian and then singing and doing a spinning back-kick a second later and then freefalling through the sky. The joy of animation is how far you can push and elevate what’s possible. I remember they adapted a lot of different anime and often times, it just feels a little stilted.”





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Meghan Markle returns to acting in star-studded film: details inside

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Meghan Markle returns to acting in star-studded film: details inside


Meghan Markle set to make acting comeback

Meghan Markle is making an acting comeback a decade after stepping away from Hollywood to become a royal.

The Duchess of Sussex, 44, was seen filming on Wednesday in Pasadena, California, for Close Personal Friends, an upcoming Amazon MGM Studios comedy starring Brie Larson, Lily Collins, Jack Quaid, and Henry Golding.

Meghan will reportedly play herself. “She has a small part and seemed very relaxed and happy,” a production insider told People. “She introduced herself to everyone and was very sweet and down-to-earth.”

The project marks Meghan’s first acting role since leaving Suits in 2017, shortly before her engagement to Prince Harry.

According to a studio source quoted by The Sun, this appearance is “her way of gently putting her toe back in the water” after years away from Hollywood.

“It’s a massive moment for her and a return to doing what she truly loves,” the source added. “Everyone involved has been sworn to secrecy about her part.”

Prince Harry, 41, is said to be “really supportive” of his wife’s return to acting and “wants Meghan to do whatever brings her joy.”

Close Personal Friends follows a couple who befriend a celebrity pair while vacationing in Santa Barbara—appearing reminiscent of Meghan and Prince Harry’s life in nearby Montecito since leaving royal life in 2020. They share two children, Prince Archie, 6, and Princess Lilibet, 4.

Meghan first met Harry in 2016 while starring on Suits and married him two years later in a royal ceremony. In her 2017 engagement interview, Meghan announced her exit from Hollywood.





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Prince Harry is ‘letting Meghan know’ nothing can compare to UK

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Prince Harry is ‘letting Meghan know’ nothing can compare to UK


Prince Harry is ‘letting Meghan know’ nothing can compare to UK

Prince Harry is showcasing his embarrassment as he recalls time in the UK.

The Duke of Sussex admits he misses life as a British soldier despite all the love he has received in America.

Speaking about his latest essay ahead of Remembrance Day, communications expert Judi James said: “He sounds embarrassed by this ‘reveal’ though. By adding ‘ridiculous as it sounds’, he seems to be apologising to his US audience, perhaps even to his own family, for this admission of nostalgia and what sounds like a sense of longing.”

“This is an important-sounding admission too. Most ex-pats yearn for jars of Marmite or English tea bags, but Harry is letting everyone know, including Meghan here, that he’s missing a kind of shared, intense, complex humour that he might not be able to get in the US,” she notes.

Prince Harry left the Royal Family back in 2020 alongside wife Meghan Markle and son, Prince Archie. The couple later accused the Royal Family of showcasing racism towards their son and publicly shared their grievances on television. Harry and Meghan now live in California, where they also welcomed their daughter, Princess Lilibet.





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