Business
PSX dips on sell-off, geopolitical concerns | The Express Tribune

KARACHI:
The Pakistan Stock Exchange (PSX) closed Friday’s session on a bearish note, with the KSE-100 index falling over 1,430 points to settle at almost 163,100.
Persistent profit-taking and heightened geopolitical tensions weighed on investor sentiment, as reports surfaced of alleged strikes by Pakistan’s armed forces targeting a TTP leader in Afghanistan.
Market activity remained volatile, with 1.40 billion shares traded, valuing at Rs47.79 billion. Major laggards included Engro Holdings, Systems Ltd, MCB Bank, HBL and Engro Fertilisers, collectively dragging the index down by 732 points.
According to Arif Habib Limited (AHL), the benchmark index posted losses in every session this week, down 3.49% week-on-week, amid weak investor confidence.
On the macro front, the inflation measured by the Sensitive Price Indicator (SPI) rose 4.34% year-on-year (YoY), while car sales increased 20% month-on-month (MoM) in September. Analysts now eye key support between 160,000 and 162,000 and resistance near 167,000.
Out of the actively traded stocks, AHL said, 18 advanced while 81 declined, with Fauji Fertiliser Company (+1.24%), Maple Leaf Cement (+2.84%) and Askari Bank (+3.27%) contributing the most to index gains. In contrast, Engro Holdings (-2.88%), Systems Ltd (-3.21%) and MCB Bank (-2.32%) were the major drags.
Geopolitically, tensions flared as Afghanistan’s Taliban government accused Pakistan of bombing a civilian market in Paktika province. Technically, the benchmark index has now fallen 4.5% from its early October peak, with the next support seen around 160,000-162,000 and resistance near 167,000, AHL added.
At the close of trading, the benchmark KSE-100 index declined by 1,432.62 points, or 0.87%, and settled at 163,098.19.
Topline Securities, in its market review, highlighted that the KSE-100 extended losses, as the index declined 0.87%. “This pressure can be attributed to alleged strikes by Pakistan’s armed forces on the leader of the banned terror outfit Tehreek-e-Taliban Pakistan (TTP) in Afghanistan,” wrote Topline.
Top negative contribution to the index came from Engro Holdings, Systems Ltd, MCB Bank, HBL and Engro Fertilisers, as they erased 732 points. Traded value-wise, PTCL (Rs3.1 billion), The Bank of Punjab (Rs2.96 billion), PSO (Rs2.89 billion), NBP (Rs2.77 billion) and Hubco (Rs1.85 billion) dominated trading activity, it added.
Ismail Iqbal Securities mentioned that the KSE-100 index closed on a negative note, exhibiting immense volatility throughout the session as profit-taking persisted amid the absence of any major fresh triggers.
Commercial banks, oil & gas exploration companies and technology & communication sectors were the major laggards in Friday’s session, cumulatively shedding 784 points from the index, it said.
Overall trading volumes were recorded at 1.40 billion shares compared with the previous session’s tally of 1.57 billion. The value of shares traded during the day was Rs47.79 billion.
Shares of 479 companies were traded. Of these, 145 stocks closed higher, 302 fell and 32 remained unchanged.
K-Electric was the volume leader with trading in 199.99 million shares, gaining Rs0.21 to close at Rs7.13. It was followed by WorldCall Telecom with 143.93 million shares, losing Rs0.04 to close at Rs1.73 and The Bank of Punjab with 90.24 million shares, losing Rs0.80 to close at Rs32.07.
During the day, foreign investors sold shares worth Rs720.4 million, the National Clearing Company of Pakistan reported.
Business
Maruti Suzuki targets mini-car surge: Alto and S-Presso prices cut 11-13%; 2-wheeler buyers lured by festive finance – The Times of India

Maruti Suzuki India is intensifying efforts to boost sales of its entry-level cars, aiming to achieve record volumes for the Alto and S-Presso in the ongoing fiscal 2026. The company is relying on aggressive price reductions, festive finance schemes, and a focused push to attract two-wheeler riders into the four-wheeler segment.According to sources familiar with the matter told ET, Maruti has set a target to sell between 220,000 and 250,000 mini cars this fiscal year. The previous record for the segment was around 247,000 units in FY20.The renewed focus on small cars is part of Maruti’s broader strategy to arrest declining market share, which has been under pressure due to a slump in small-car sales alongside rising SUV demand. In FY25, the overall passenger vehicle market grew only 2% in cumulative wholesale dispatches, while Maruti’s market share fell to 40.9%, the lowest since FY13 when it stood at 39%. The company had commanded over 51% market share in FY19 and FY20.Maruti’s optimism is reinforced by a GST rate cut on small cars, which has effectively lowered prices by 11-13%. The company has also introduced a festive Rs 1,999 EMI scheme for entry-level models, launched during Navratri and extending through Diwali, to appeal to two-wheeler owners.

Dealers reported a surge in showroom footfalls and enquiries, particularly from rural and small-town buyers, though actual conversions remain limited. “The offer is very attractive and has brought new buyers into showrooms. We expect a major pickup during Dhanteras and Diwali,” said a Maruti dealer in western India.Partho Banerjee, Senior Executive Officer (Sales and Marketing) at Maruti Suzuki, said the entry-level segment is showing early signs of revival. “The response to the Rs 1,999 EMI offer has been very positive. Many two-wheeler customers who earlier did not consider buying a car are now visiting our showrooms. We are literally seeing helmets on discussion tables – that’s a very good indicator,” he told ET.Banerjee added that overall festive-period booking momentum has been strong. “Just to give you a perspective, the Alto bookings in October (till date) were up around 60% compared to the same month last year.” He noted that bookings for cars in the 18% GST bracket, including small cars, have risen sharply, though it is still early to quantify their full impact on overall sales.Industry observers, however, expressed caution over Maruti’s ambitious targets. “It’s a very tall target. Over the last five years, the car buyer has become a lot more aspirational. Even a first-time buyer is not keen on an entry-level model and prefers a second-hand premium hatchback like a Baleno,” said an industry executive, requesting anonymity.Analysts believe that while the push on affordability may come at the cost of average selling price and near-term margins – potentially around 100 basis points – it could expand market share and improve operating leverage if consumer response remains positive. Kapil Singh of Nomura Research noted that the initiative may strengthen Maruti’s base.According to Puneet Gupta, Director, S&P Global Mobility, the GST reduction could reignite demand in the mini-car segment. “Expect a wave of innovation in financing, product offerings, and ownership schemes aimed at reviving this category,” he said. With only 36 cars per 1,000 people, India’s vehicle ownership remains among the lowest globally, and this push could serve as a catalyst for two-wheeler users to transition to four-wheelers.Maruti has reduced prices across its lineup by 2-21%, with the steepest cuts on the Alto, S-Presso, and Celerio (13-22%). Larger models, including the Brezza, Grand Vitara, and Invicto, have seen reductions of 2-8%.Banerjee emphasised that Maruti is committed to maintaining a balanced presence across all segments. “As a market leader, we must have a play across all segments – hatchbacks, SUVs, MPVs, CNG, hybrids, and EVs. That’s what leadership means,” he said.
Business
Video: The N.B.A. Returns to China After Six Years

new video loaded: The N.B.A. Returns to China After Six Years
transcript
transcript
The N.B.A. Returns to China After Six Years
The N.B.A, returns to China this week, after a hiatus sparked by a controversial 2019 tweet. In Macau, New York Times business reporter Tania Ganguli reveals the behind-the-scenes stakeholders who orchestrated the league’s return.
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I’m in Macau, the gambling capital of the world. I’m here for the NBA’s return to China for the last six years, there haven’t been any NBA games here. looking at these big banners that are draped over buildings. Reminds me of being back here in 2019. the players were sitting in their hotel and they could see workers tearing those same types of banners down, peeling their faces off the building. A few days before, the Houston Rockets general manager, Daryl Morey, had sent a tweet in support of protesters in Hong Kong. Well, this made the Chinese government very upset. The NBA backed him. We are not apologizing for Daryl exercising his freedom of expression. And then chaos enveloped. That whole week. Sponsors pulled out. And a lot of the players were worried about if they would even be allowed to go home if things got worse. It was it was that surreal. they lost about $400 million. Just from that one situation The Chinese market is huge for the NBA. There are a lot of basketball fans here…. and the league has been working on cultivating them for decades. And so coming here to Macao and playing a game in China again is a very big deal for the league. when you ask anybody with the league how did these games come together? The name that they mentioned is Patrick Dumont. He’s a top executive with the Sands Casino. And owner of the Dallas Mavericks. in 2021, the Chinese government was renegotiating what’s called concessions with the casinos here in Macau. In those concession agreements, the government required that the casinos spend a certain amount on non-gaming activities like entertainment, like sports. And Sands had this arena at the Venetian, so Dumont saw bringing the NBA here as an opportunity to satisfy that requirement. One of the other main players here was Joe Sy, the owner of the Brooklyn Nets. Joe tsai is the chairman of Alibaba Group, which is a Chinese tech giant. he has a lot of deep ties to the Chinese government, the nets, and spent a lot of time over the last few years meeting with Chinese officials, having events that celebrate Chinese culture. they have spoken to Chinese media outlets and said, this market is so important to us. We care about this market more than any other NBA team. They even launched a reality show. That’s a dance team competition to choose dancers for their games here in Macao Sound up: “The brooklyn nets will find the best dancers in china” There’s a tremendous amount at stake for these teams because. The league saw what happened when something went wrong and they lost this market even briefly. there is a feeling that this has to go right, and that this is a big opportunity to get back something that they lost.
By Tania Ganguli, Christina Shaman, Kassie Bracken and Christina Thornell
October 11, 2025
Business
Finance Minister Aurangzeb departs for US to attend IMF, World Bank meetings – SUCH TV

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has departed for the United States to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank.
According to a statement issued by the Ministry of Finance in Islamabad on Saturday, the minister will represent Pakistan at the plenary sessions of both institutions.
During his six-day visit, Senator Aurangzeb is scheduled to hold meetings with senior officials of the IMF, World Bank, International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
He will also hold a one-on-one meeting with World Bank President Ajay Banga and attend a dinner hosted by him for finance ministers of selected countries.
Additionally, the minister will meet IMF Managing Director Kristalina Georgieva during sessions of the G24 and MENAP (Middle East, North Africa, and Pakistan) groups, where he is expected to deliver a keynote address.
Aurangzeb will also participate in a World Bank regional roundtable on the digital transformation of the Federal Board of Revenue (FBR), alongside tax authorities from other nations.
Moreover, he will attend two major events hosted by the World Economic Forum (WEF) and hold bilateral meetings with finance ministers from China, the United Kingdom, Saudi Arabia, Türkiye, and Azerbaijan.
The finance minister’s schedule also includes meetings with senior White House officials, the Chairman of the U.S. Congress Financial Services Committee, and representatives from the U.S. State and Treasury Departments and the International Development Finance Corporation (DFC).
He will engage with office bearers and members of the U.S.-Pakistan Business Council to discuss tax proposals and investment opportunities in Pakistan.
The minister will also meet with representatives of global credit rating agencies, commercial banks particularly investment banks from the Middle East and address various investment forums and seminars to highlight Pakistan’s economic outlook.
Aurangzeb will visit leading U.S. think tanks, including the Atlantic Council and the Peterson Institute for International Economics (PIIE), and meet prominent members of the Pakistani community.
He will also give interviews to selected international and American media outlets during his visit, which includes over 65 events, forums, meetings, and official engagements.
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