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PSX continues to extend losses as KSE-100 closes 1,300 points lower | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) extended its downturn on Tuesday, with the benchmark KSE‑100 index falling 1,303.52 points to settle at 173,150.42, as persistent foreign corporate selling exacerbated bearish sentiment across key sectors.
After opening higher and briefly reaching 176,131.35, early gains were short‑lived as investors booked profits and reversed course. A modest midday rebound failed to sustain momentum, and renewed selling in the final hour dragged the index toward an intra‑day low of 171,693.40 before the close.
Market breadth remained weak, with declines evident in heavyweight sectors such as autos, banking, cement, oil and gas exploration, OMCs, and power generation. Analysts said persistent foreign corporate selling and a fragile investor outlook continued to weigh on sentiment, mirroring volatility seen in recent sessions.
Also Read: PSX plunges 2.9% on sharp sell-off
On Monday, the bourse experienced a broad‑based sell‑off that saw the KSE‑100 plunge sharply amid institutional liquidation and weak corporate results, highlighting ongoing market fragility.
Topline Securities noted that extended offloading in blue‑chip names kept upward momentum in check.
Pakistan State Oil (PSO), Habib Bank, Engro Holdings, United Bank, Fauji Fertiliser, and National Bank collectively eroded 892 points from the benchmark, while Oil & Gas Development Company, Pakistan Petroleum, Millat Tractors, and Bank of Punjab provided limited support, adding 359 points.
In corporate earnings news, PSO posted an unconsolidated profit of Rs2.7 billion in 2QFY26, with an earnings per share (EPS) of Rs5.82, below industry expectations due to inventory losses and a higher effective tax rate, according to Topline Securities.
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Overall trading activity declined as volumes fell to 716 million shares from Monday’s 773.2 million, with the total traded value at Rs40.4 billion. Of the 477 companies traded, 128 advanced, 293 declined and 56 ended unchanged. K‑Electric topped the volume chart with 122.6 million shares, closing at Rs7.82, down Rs0.31.
Investors will be watching macroeconomic cues and corporate results closely after recent volatility, as the market absorbed both external selling and domestic pressures that have kept confidence tentative.
India-Europe Flight Network: Air India and the Lufthansa Group recently signed a Memorandum of Understanding (MoU) to form a joint business partnership. The agreement establishes a framework for cooperation between Air India, its subsidiaries such as Air India Express, and Lufthansa Group carriers, including Austrian Airlines, Brussels Airlines, ITA Airways, Lufthansa, and SWISS.
Through this partnership, the two companies aim to enhance flight connections and travel experiences between India and Europe on a single ticket. The move follows the recent completion of the India-European Union Free Trade Agreement. The airlines plan to collaborate on route planning, flight schedules, and marketing to make travel more convenient. They also intend to coordinate frequent flyer programs and IT systems.
Carsten Spohr, Chairman and CEO of the Lufthansa Group, said the agreement marks a new phase in aviation between the two regions. He stated, “Together with Air India, we will strengthen our access to the aviation market with the highest growth rates worldwide.”
Air India, in a statement, said it is expanding its fleet and services following its privatisation in 2022. The airline views this cooperation as a way to support growing trade and travel ties. Campbell Wilson, CEO and Managing Director of Air India, noted that the framework allows both companies to explore closer cooperation on multiple levels. He said, “This would unlock greater value for our common customers and respective shareholders, and we look forward to progressing these initiatives together with the Lufthansa Group.”
The two airline groups already collaborate through the Star Alliance and existing codeshare agreements. Currently, they operate 145 routes connecting 15 cities in India with 29 cities in Europe. The new agreement will initially focus on traffic between India and the Lufthansa Group’s home markets of Germany, Austria, Belgium, Italy, and Switzerland, with plans to expand to the rest of Europe and the Indian subcontinent later.
Economic data shows that the EU is India’s largest trading partner for goods, with bilateral trade exceeding 120 billion euros in 2024. Together, India and the European Union represent nearly 25 percent of global Gross Domestic Product. The airlines believe that improved aviation links will further strengthen these economic relations. Final details of the partnership, including specific routes, will be announced after the companies obtain the necessary regulatory and anti-trust approvals.
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Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD
One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. (representative image)
A tax-saving fixed deposit (FD) continues to be a popular investment option for individuals seeking a safe avenue to grow their money while reducing their tax burden. The scheme offers dual benefits, capital protection along with tax deductions under the Income Tax Act.
Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD. In addition to the tax benefit, these deposits currently offer interest rates of up to around 7%, making them an attractive choice for those looking for stable and assured returns without exposure to market risks.
However, the tax advantage applies only to those who file their income tax returns under the old tax regime. Individuals opting for the new tax regime cannot claim deductions under Section 80C for investments made in tax-saving FDs. Financial planners advise investors to assess their tax planning strategy before committing funds.
One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. During this period, the deposited amount cannot be withdrawn. The restriction is often viewed as a discipline-enforcing feature for long-term savers.
Premature withdrawal is not permitted; if the deposit is broken before completing 5 years, the investor may face penalties and will also lose the tax benefits. The withdrawn amount would then be treated as income in that financial year and taxed accordingly.
Tax-saving FDs also do not offer loan or overdraft facilities against the deposit. In case the account holder passes away, the nominee is allowed to withdraw the amount before maturity.
While the principal investment qualifies for tax deduction, the interest earned is not fully tax-free. If the annual interest exceeds Rs 40,000 or Rs 1 lakh in the case of senior citizens, banks deduct tax at source (TDS) at the time of payment. Despite this, the scheme remains appealing to conservative investors because it guarantees returns at maturity and shields savings from market volatility.
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