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KSE-100 drops steeply as bears take control of the market | The Express Tribune

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KSE-100 drops steeply as bears take control of the market | The Express Tribune


In yet another volatile session, the Pakistan Stock Exchange witnessed a broad-based decline as investor caution dominated trading, pulling the benchmark KSE-100 index lower across major sectors.

The market opened on a positive note on Wedneday, briefly lifting the index, but early gains quickly faded as investors trimmed positions in the absence of fresh positive triggers. The benchmark faced persistent fluctuations throughout the day, moving within a narrow range as selling pressure intensified. By midday, the KSE-100 index hovered around 166,313.22, down 1,329.05 points or 0.79%.

Selling pressure was visible across key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), and power generation. Throughout the day, the index oscillated between an intra-day high of 168,160.88 and a low of 166,115.17.

The market continued to exhibit persistent selling and heightened nervousness. By the close of trading, the KSE-100 index settled at 166,145.35, down 1,496.93 points or 0.89%.

According to KTrade Securities, the PSX experienced continued selling pressure following its recent strong run, which had fallen just short of the all-time high reached earlier in October.

“The KSE-100 index slipped 1,497 points (-0.89%) to close at 166,145,” it noted. “Trading remained largely range-bound, with pressure from Fauji Fertiliser, Meezan Bank, United Bank, Hub Power and Engro Holdings.” TRG, however, bucked the trend, along with Oil & Gas Development Company, Pioneer Cement and Faysal Bank.

Market participation remained firm, with All-Share volumes recorded at 591 million. Looking ahead, KTrade expects overall sentiment to stay constructive, with the IMF board meeting on December 8 and the anticipated tranche release acting as key drivers. Regional geopolitical shifts may also shape near-term momentum, it added.

Overall trading volume declined to 593 million shares from Tuesday’s tally of 775.5 million. The value of traded shares stood at Rs44.4 billion. Shares of 473 companies were traded, of which 136 closed higher, 291 declined and 46 remained unchanged. WorldCall Telecom led the volumes, with 78.7 million shares changing hands, gaining Rs0.06 to close at Rs1.86.



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IMF Raises India’s 2025 Growth To 7.3%

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IMF Raises India’s 2025 Growth To 7.3%


Washington: The International Monetary Fund on Monday raised India’s economic growth projection for 2025 by a sharp 0.7 percentage point to 7.3 per cent, citing stronger-than-expected performance in the second half of the year, even as it expects growth to moderate in the coming years. 

In its World Economic Outlook Update, the IMF said the upward revision reflects a “better-than-expected outturn in the third quarter of the year and strong momentum in the fourth quarter,” underscoring India’s position as one of the fastest-growing major economies in the world.

The IMF projected that India’s growth would ease to 6.4 per cent in 2026 and 2027 as cyclical and temporary factors wane.

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Despite the expected moderation, India remains a key driver of growth among emerging market and developing economies, which the IMF said are projected to expand at just over 4 per cent in 2026 and 2027. 

Emerging and developing Asia continues to benefit from strong technology-related investment and trade, even as global momentum becomes uneven.

The update noted that global growth is projected to hold steady at 3.3 per cent in 2026, supported by easing trade tensions, accommodative financial conditions and a surge in investment linked to technology, particularly artificial intelligence.

Inflation trends were also favourable for India. The IMF said inflation in India “is expected to go back to near target levels after a marked decline in 2025, driven by subdued food prices,” offering additional support to domestic demand.

However, the IMF cautioned that risks to the outlook remain tilted to the downside. A reassessment of expectations around AI-driven productivity gains could lead to a pullback in investment and tighter global financial conditions, with spillover effects for emerging economies.

On the upside, the Fund said faster adoption of artificial intelligence could lift global growth, provided productivity gains materialise, and financial risks are contained.



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Why the US is buying icebreakers from Finland

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Why the US is buying icebreakers from Finland


Adrienne MurrayBusiness reporter, Helsinki

Aker Arctic Technology A Polaris class icebreaker designed by Finnish firm Aker Arctic Technology cuts its way through ice covered waterAker Arctic Technology

Finland leads the world when it comes to the design and construction of icebreakers

As President Donald Trump continues to insist that the US needs to own Greenland, his wider focus on the Arctic region has seen Washington order new icebreakers.

For these ships, which can sail through seas covered in solid ice, the US has gone to the world expert – Finland.

Temperatures are sub-zero inside Aker Arctic Technology’s ice laboratory, as the scale model of an icebreaker cruises down a 70m-long simulation tank.

It ploughs a neat channel through the frozen surface of the water.

Undergoing testing at a facility in Helsinki, Finland’s capital, this is a design for the next generation of the country’s icebreakers.

“It’s crucial that it has sufficient structural strength and engine power,” says ice performance engineer, Riikka Matala.

Mika Hovilainen, the firm’s chief executive, adds that the shape of the vessel is also crucial. “You have to have a hull form that breaks ice by bending it downwards,” he says. “It’s not cutting, it’s not slicing.”

Finland is the undisputed world leader when it comes to icebreakers. Finnish companies have designed 80% of all those currently in operation, and 60% were built at shipyards in Finland.

The country leads the way out of necessity, explains Maunu Visuri, president and chief executive of Finnish state-owned company Arctia, which operates a fleet of eight icebreakers.

“Finland is the only country in the world where all the harbours may freeze during wintertime,” he says, adding that 97% of all goods to the country are imported by sea.

During the coldest months, icebreakers keep Finland’s ports open, and work as pathfinders for big cargo ships. “It’s really a necessity for Finland. We say that Finland is an island.”

It was this expertise that saw Trump announce in October that the US planned to order four icebreakers from Finland for the US Coast Guard.

A further seven of the vessels, which the US is calling “Arctic Security Cutters”, are to be built in the US, using Finnish designs and expertise.

“We’re buying the finest icebreakers in the world, and Finland is known for making them,” said Trump.

Adrienne Murray A model icebreaker being tested at Aker Arctic Technology's facility in HelsinkiAdrienne Murray

Aker Arctic Technology is continuing to test designs for the next generation of icebreakers

Under US law, the country’s naval and coastguard ships must be domestically-built, but in this case the president waived that requirement on national security grounds. He cited “aggressive military posturing, and economic encroachment by foreign adversaries”, by which he means Russia and China.

This US concern comes as climate change continues to make the Arctic Ocean more navigable for cargo ships, at least if icebreakers lead the way by cutting a path. This opens up commercial trade routes from Asia to Europe, either above Russia, or north of Alaska and Canada’s mainland, and down past Greenland.

Reduced ice levels also mean that oil and gas fields beneath the Arctic are more accessible.

“There’s simply a lot more traffic in that part of the world now,” notes Peter Rybski, a retired US Navy officer and Helsinki-based, Arctic expert.

“You have an active oil and gas exploration and extraction industry in Russia, as well as a newly-emerging trans-shipment route from Europe to Asia.”

Rauma Marine Constructions An artist's impression of the new Finnish icebreakers that the US has orderedRauma Marine Constructions

The US intends to buy 11 icebreakers of Finnish design, pictured, four of which will be built in Finland

Following Trump’s outline announcement last autumn, the first contracts were awarded on 29 December.

Finland’s Rauma Marine Constructions is to build two icebreakers for the US Coast Guard at its shipyard in the Finnish port of Rauma. The first ship is due to be delivered in 2028.

A further four will be constructed in Louisiana, with all six using an Aker Arctic Technology diesel-electric powered design.

The US orders are part of an effort to catch up with the number of Russian icebreakers. Currently Russia has around 40, including eight that are nuclear powered.

By contrast, the US presently only has three in operation.

Meanwhile China operates around five polar-capable vessels. “None of them are technically icebreakers,” says Rybski, pointing to their design not meeting the strict criteria. “But they are increasing their fleet.”

He adds that China has increasingly been sending these “research” ships into Arctic waters between Alaska and the far east of Russia, including areas that the US considers its “exclusive economic zone”.

“With limited means to respond this becomes a problem [for the US].”

Trump’s desire to enlarge its icebreaker fleet goes beyond the practicalities of operating in ice-clad Arctic seas, assesses Lin Mortensgaard, a researcher at the Danish Institute of International Studies. She says it is also about projecting power.

“No matter how many aircraft carriers you have and how much you use them to threaten states with, you cannot sail your aircraft carrier into the central Arctic Ocean,” she says.

“Icebreakers are really the only kind of naval vessel to signal that you are an Arctic state, with Arctic capabilities. And I think this is what much of the US discourse is about.”

James Brooks Icebreaker engineer Riikka Matala wearing a fluorescent jacketJames Brooks

Icebreaker engineer Riikka Matala says that icebreakers need both structural strength and powerful engines

Back in Finland, Helsinki Shipyard occupies a dock on the capital’s waterfront. It is where half of the world’s icebreakers have been made. Today owned by Canadian firm Davie, it also hopes to win new contracts from the US Coast Guard.

“The geopolitical situation has changed definitely,” says the shipyard’s managing director, Kim Salmi.

“We have our eastern neighbour here [Russia]. They are building their own [new] fleet. And the Chinese are building their fleet.”

He adds: “The US, Canada and the western allies in general, are looking for the power balance.”

Inside a cavernous shipbuilding hangar, workers cut and weld steel for the yard’s latest icebreaker, a heavy-duty Arctic vessel, called Polarmax that’s destined for the Canadian coastguard.

The Finns can build these complex vessels remarkably swiftly – it takes between two-and-a-half and three years – thanks to a streamlined production method, and decades of experience.

“Over 100 years, we have practised this,” says Arctia’s Visuri. “You’ve got this cycle of designers, operators, builders. That’s why Finland is the superpower of icebreakers.”

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Gold price today: How much 22K, 24K gold cost in Delhi, Mumbai & other cities – Check rates – The Times of India

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Gold price today: How much 22K, 24K gold cost in Delhi, Mumbai & other cities – Check rates – The Times of India


Gold prices remained high on Monday as investors continued to seek safety amid rising geopolitical tensions and trade-related uncertainties.Gold and silver prices surged to fresh record levels as escalating geopolitical risks and shifting US monetary expectations boosted demand for safe-haven assets. Renewed unrest in Iran, fresh US tariff threats against several European countries over Greenland and broader global uncertainty supported buying in precious metals.On the MCX, gold February futures jumped nearly Rs 3,000, or over 2%, to hit a fresh all-time high of Rs 1,45,500 per 10 grams. Silver also outperformed, with futures rising sharply to record levels.In international markets, spot gold climbed 1.7% to a new high of $4,673 an ounce, while silver rose about 3% to around $94 per troy ounce. Overseas silver futures surged more than 6% to hit a record $94.35 per ounce.

Gold prices in Delhi today

Gold prices in Delhi rose on Monday. The price of 24-carat gold stood at Rs 14,584 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,370 per gram, higher by Rs 175, while 18-carat gold was priced at Rs 10,942 per gram, up by Rs 143.

Gold prices in Mumbai today

In Mumbai, 24-carat gold was priced at Rs 14,569 per gram, up by Rs 191. The price of 22-carat gold stood at Rs 13,355 per gram, up by Rs 175, while 18-carat gold was trading at Rs 10,927 per gram, up by Rs 143.

Gold prices in Chennai today

Gold prices in Chennai also moved higher. The price of 24-carat gold was Rs 14,673 per gram, up by Rs 186. The rate for 22-carat gold stood at Rs 13,450 per gram, up by Rs 170, while 18-carat gold was priced at Rs 11,230 per gram, up by Rs 140.

Gold prices in Ahmedabad today

In Ahmedabad, 24-carat gold was trading at Rs 14,574 per gram, up by Rs 191. The price of 22-carat gold rose to Rs 13,360 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,932 per gram, up by Rs 143.

Gold prices in Bhubaneswar today

Gold prices in Bhubaneswar rose on Monday, with 24-carat gold at Rs 14,569 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,355 per gram, up by Rs 175, while 18-carat gold stood at Rs 10,927 per gram, up by Rs 143.

Gold prices in Hyderabad today

In Hyderabad, gold prices remained firm. The price of 24-carat gold stood at Rs 14,569 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,355 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,927 per gram, up by Rs 143.

Gold prices in Kolkata today

Gold prices in Kolkata also moved higher. The price of 24-carat gold was Rs 14,569 per gram, up by Rs 191. The rate for 22-carat gold stood at Rs 13,355 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,927 per gram, up by Rs 143.

Gold prices in Jaipur today

In Jaipur, 24-carat gold was priced at Rs 14,584 per gram, up by Rs 191. The price of 22-carat gold stood at Rs 13,370 per gram, up by Rs 175, while 18-carat gold was trading at Rs 10,942 per gram, up by Rs 143.

Gold prices in Lucknow today

Gold prices in Lucknow rose on Monday, with 24-carat gold at Rs 14,584 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,370 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,942 per gram, up by Rs 143.

Gold prices in Bengaluru today

In Bengaluru, gold prices were higher, with 24-carat gold trading at Rs 14,569 per gram, up by Rs 191. The price of 22-carat gold stood at Rs 13,355 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,927 per gram, up by Rs 143.

Gold prices in Patna today

Gold prices in Patna also edged higher. The price of 24-carat gold stood at Rs 14,574 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,360 per gram, up by Rs 175, while 18-carat gold was priced at Rs 10,932 per gram, up by Rs 143.



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