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Peace hopes trigger robust PSX rally | The Express Tribune

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Peace hopes trigger robust PSX rally | The Express Tribune


PSX witnessed a strong trend-reversal session as the KSE-100 Index surged 1,836 points (+1.01%) to close at 184,175. Photo: Express


KARACHI:

Trading halted at the Pakistan Stock Exchange (PSX) on Wednesday in a massive show of strength as Middle East de-escalation hopes brought investors back into a vibrant mood. Equities surged sharply in broad-based buying across multiple sectors, which sent the KSE-100 index soaring by over 6,750 points. PSX, in its official notice, confirmed that the market halt was triggered after the KSE-30 index rose 5% from the previous day’s close, activating the exchange’s circuit breaker mechanism. Following this, all equity markets were suspended at 12:03 pm and all outstanding orders were automatically cancelled.

The KSE-100 initially climbed to 153,615, marking a gain of 3.28%, and by 12:03 pm, it was hovering around 156,205, up 7,462 points, or 5.02%. When trading resumed, the benchmark index reached the intra-day high of 157,347. Though some volatility emerged later, the index closed on a strong note at 155,511.57, reflecting a jump of 6,768.25 points, or 4.55%.

KTrade Securities noted that the KSE-100 staged a powerful rebound, closing up 6,768 points and marking a sharp reversal after the recent prolonged weakness. The session opened strong and maintained a firm upward trajectory, with broad-based buying indicating a decisive shift in sentiment.

The rally was largely driven by improving global cues as easing geopolitical tensions lifted the risk appetite. Overnight developments, including conciliatory signals from both the US and Iran, triggered a sharp pullback in international oil prices, while global equities across the US and Asia closed in the green. This external tailwind set the stage for aggressive buying at the local bourse, KTrade remarked.

Heavyweight stocks across commercial bank, cement, fertiliser and E&P sectors drove the index’s performance. The latest Consumer Price Index (CPI) reading of 7.3%, coming in below expectations, reinforced investor confidence by supporting the case for a stable monetary policy outlook. The combination of easing inflation and softer oil prices provided a strong base for sentiment recovery, it added.

Arif Habib Limited (AHL) observed that stocks registered a strong surge back above 150k with the KSE-100 gaining 4.55% day-on-day. A total of 91 shares rose while eight fell with United Bank (+6.36%), Lucky Cement (+9.17%) and Fauji Fertiliser (+2.89%) contributing the most to the index gains. “Wednesday’s surge is the second biggest move that has come from below 150k since the KSE-100 broke below the Oct 2025 lows, underscoring its attractiveness for long-term capital deployment.”

AHL mentioned that China and Pakistan issued a joint call for an immediate ceasefire in the Gulf war and for safeguarding shipments through the Strait of Hormuz. Additionally, US President Trump was scheduled to address the nation, which follows addresses already made by the prime ministers of the UK and Australia. Domestically, the CPI for March rose 7.3% year-on-year and 1.2% month-on-month, which were broadly in line with expectations. AHL anticipated that index levels below the 200-day moving average would remain attractive for long-term accumulation.

Topline Securities wrote that gains of 6,768 points in the KSE-100 index signalled a strong rebound in market sentiment. During the session, the index traded within a wide range, touching the intra-day high of 157,347 and low of 151,263. Trading was briefly halted after the KSE-30 index surged more than 5% from the previous day’s close, activating the market-wide circuit breaker.

Overall trading volumes increased to 670.9 million shares against Tuesday’s tally of 435 million. The value of traded shares stood at Rs44 billion. Foreign investors sold shares worth Rs170.6 million, the National Clearing Company reported.



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Oven Pride firm McBride sees ‘first signs’ of supply shortages due to Iran war

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Oven Pride firm McBride sees ‘first signs’ of supply shortages due to Iran war



Oven Pride household goods group McBride has revealed “temporary” price hikes to cover increased costs from the Iran war and warned it was seeing the first signs of supply shortages caused by the conflict.

The group, which makes branded and white label household and cleaning products for the likes of Tesco and Sainsbury’s, said until now it had only seen a small impact from higher haulage costs due to fuel price rises, but said “these conditions have now started to change”.

It said the “most heavily impacted” chemical and packaging suppliers are pushing through price increases as they face rising costs for petrochemical-derived feedstocks and higher energy costs in chemical and packaging production.

“The first signs of possible shortages in supply chains around the world are beginning to emerge,” it added.

McBride said its costs are increasing this month and will rise further due to the war, and is set to lift prices to offset the hit.

“The group has already informed all customers about temporary price adjustments, or surcharges to current pricing, to recover these higher, beyond our control, cost impacts from the Middle East conflict,” McBride said.

The warnings come amid mounting worries over the impact of the conflict on supply and costs, having sent oil prices surging above 100 US dollars a barrel and causing widespread disruption to global shipping.

Supermarkets met with Chancellor Rachel Reeves and Energy Secretary Ed Miliband at No 11 on Wednesday to look at issues caused by the war and agreed to explore together how to ease the cost-of-living impact for consumers.

McBride’s comments came in an update as it also announced a £34.5 million deal to buy Eurotab – a French-based specialist in cleaning tablets, such as for dishwashers.



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Tiger Woods won’t captain 2027 Ryder Cup team as golf future remains uncertain

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Tiger Woods won’t captain 2027 Ryder Cup team as golf future remains uncertain


Tiger Woods of Jupiter Links Golf Club looks on before the match against the Los Angeles Golf Club at SoFi Center in Palm Beach Gardens, Florida, March 24, 2026.

Adam Glanzman | TGL Golf | Getty Images

Tiger Woods’ future in professional golf remains unclear as he seeks treatment after a rollover car crash last week.

Woods was arrested for a DUI after the accident in Jupiter Island, Florida, his second rollover in five years, and said in a statement on X that he would be stepping back from golf “to return to a healthier stronger, and more focused place.”

Woods did not provide a timeline for his return, only that he would be stepping away for a “period of time.”

On Wednesday, the PGA of America announced that Woods will no longer serve as captain of the 2027 U.S. Ryder Cup Team.

“We support his decision,” the PGA of America said in a statement on X. “We commend Tiger for prioritizing his long-term health and deeply respect the courage it takes to make such a personal decision.”

The latest developments leave Woods at least temporarily at the fringes of the sport that made him a household name. The golf community has rallied around the sport’s biggest star as he vows to “focus on his health,” and the PGA Tour said in a statement that Woods has the organization’s full support.

“Tiger Woods is a legend of our sport whose impact extends far beyond his achievements on the course. But above all else, Tiger is a person, and our focus is on his health and well‑being,” the tour said.

Off the course, Woods has been serving as chairman of the PGA Tour’s Future Competition Committee since August. That group has been responsible for creating a vision for the future of professional golf.

A PGA Tour spokesperson said that Woods will return to that role when he is ready to do so.

Golf Channel analyst and former tour pro Brandel Chamblee suggested it could be time for Woods to consider retirement following his latest accident. Woods, 50, has been recovering from various injuries sustained in his car crash in 2021.

“Why would he need to play golf anymore?” Chamblee asked Friday on the Golf Channel’s “Golf Central.” “I think he should probably ask himself that. Consider not playing golf anymore.”

Until Friday’s accident, Woods held onto hope that he would compete in the upcoming Masters Tournament this month.

Augusta National Golf Club Chairman Fred Ridley confirmed this week that Woods would not play.

“Although Tiger will not be joining us in person next week, his presence will be felt here in Augusta,” Ridley said. “Augusta National Golf Club and the Masters Tournament fully support Tiger Woods as he focuses on his well-being.”

TGR, Woods’ education foundation, said it remains committed to serving its students and communities.

“Our thoughts are with our founder as he takes the time needed to focus on his health,” its CEO Hrag Hamalian said in a statement.

Woods’ apparel brand, Sun Day Red, also voiced its support this week.

“He is not just our partner, he is our friend. We are here for him and we remain focused on the work we are building together,” the company said in a post on the Meta-owned Threads platform.

TGL, the indoor golf league founded by Woods and Rory McIlroy, declined to comment about Woods’ hiatus and potential return.

Woods made his first TGL playing appearance of the season for the Jupiter Links team last week in front of a notable audience. ESPN said nearly 1 million viewers tuned in to watch Woods’ return, making it the largest audience this season.

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Walmart-owned Sam’s Club raises its annual membership fee to $60

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Walmart-owned Sam’s Club raises its annual membership fee to


A Sam’s Club in Miami, July 7, 2025.

Joe Raedle | Getty Images

Walmart-owned Sam’s Club said Wednesday it will raise its annual membership fee by $10.

Starting on May 1, the warehouse club — which directly competes with Costco and BJ’s Wholesale Club — will charge $60 per year for basic membership and $120 for its higher-tier option. It currently charges $50 for club members and $110 for Plus members and last raised annual fees in October 2022.

In a statement, Sam’s Club said it has “adjusted our membership pricing to support the things our members love,” citing perks including its assortment, expanded hours and better curbside pickup and delivery options.

Still, those new fees will be below those of rival Costco, which charges $65 per year for its basic membership and $130 per year for its higher-tier option. Costco hiked its fees in 2024. The fees bring Sam’s Club in line with BJ’s, which charges $60 per year for its basic membership and $120 per year for its higher-tier membership.

Sam’s Club is hiking membership fees as its annual sales and membership grow. Net sales for Sam’s Club in the U.S. grew by about 3.1% to $93 billion last fiscal year, according to Walmart’s fourth-quarter earnings report. That growth has come in part from an expanding digital business: In the holiday quarter, the warehouse club’s e-commerce sales increased by 23% year over year. Store and website visits increased, too, with transactions rising 5.3% year over year in the same quarter.

Higher gas prices, driven by the Iran war, have drawn more attention to one of warehouse clubs’ key perks: cheaper prices at the pump. Gas prices hit a nationwide average of $4.018 this week, according to travel association AAA. That’s the highest price since August 2022, when the Russia-Ukraine war drove up energy prices.

Sam’s Club does not disclose its membership count, but said that it hit a record high in the three-month quarter that ended Jan. 31. Membership for the retailer is estimated to be more than 30 million, with a similar proportion of members opting into the higher-tier level as at Costco, according to David Bellinger, a retail analyst for Mizuho Securities.

Based on the equity research firm’s estimate, the membership fee increase could bump up annual income from the subscriptions by more than $200 million. That would translate to a 2 cent annual earnings per share lift for parent company Walmart.

Membership fee increases for current members will take effect when they renew at the end of their billing cycle. Sam’s Club said it emailed members about the fee increase on Tuesday.

As part of the fee change, Sam’s Club said members of its higher-tier level, called “Plus,” will be able to earn up to $750 per year in Sam’s Cash rewards on eligible purchases, up from $500 per year.

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