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PSX drops over 6,000 points on foreign selling, weak earnings – SUCH TV

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PSX drops over 6,000 points on foreign selling, weak earnings – SUCH TV



Stocks slid on Monday as persistent foreign selling and underwhelming corporate earnings kept investors risk-averse, with political noise and uncertainty around IMF-linked policy direction adding to the pressure.

The Pakistan Stock Exchange’s benchmark KSE-100 Index traded between a high of 179,969.22 (up 365.49 points, or 0.20%) and a low of 173,574.26 (down 6,029.47 points, or -3.36%) against the previous close of 179,603.73.

“The market remained under pressure due to persistent foreign selling and corporate earnings that failed to justify elevated valuations,” said Huzaifa Riaz, Director, Mayari Securities (Pvt) Limited.

“Ongoing domestic political developments further dampened sentiment, keeping investors cautious and adding to the weakness,” he added.

Analysts expect measured activity in the coming week as Ramazan begins, with shorter sessions and subdued participation likely to cap momentum.

The corporate results season could still offer support if earnings surprise on the upside, while upcoming trade and current account data will be watched for any sign of stabilisation that could limit further downside.

“Stocks staged a massive selloff as investors weigh the impact of the super tax on high-earning corporates, projections for higher inflation and US India trade deal on Pakistan exports,” added Ahsan Mehanti, Managing Director and CEO, Arif Habib Commodities.

He further added: “Political noise, uncertainty over outcome of IMF [International Monetary Fund] talks and concerns for fiscal impact of aligning SOEs losses played a catalyst role in bearish activity at PSX.”

Remittances rose 15% YoY to $3.5 billion in January 2026, though they slipped 4% month-on-month.

Automobile sales rebounded to about 23,000 units in January, according to the Pakistan Automotive Manufacturers Association.

Meanwhile, changes in Morgan Stanley Capital International’s (MSCI) February review led to removals and inclusions of Pakistani equities, triggering portfolio adjustments.

On Friday, the KSE-100 fell 908.92 points (0.50%) to close at 179,603.73, after moving between 180,832.66 and 178,237.14.



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RIL, banks lift Sensex even as FPIs sell – The Times of India

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RIL, banks lift Sensex even as FPIs sell – The Times of India


MUMBAI: Strong buying in a host of bank stocks and Reliance Industries lifted the Sensex by 650 points on Monday to close at 83,277 points. However, nearly a Rs 1,000-crore net selling by foreign funds raised doubts about the sustainability of the rally. IT stocks had been under pressure over the past few sessions amid doubts surrounding their business models in the age of AI, but their losses were contained on Monday. The session also saw a host of stock of companies that have their businesses closely linked to the stock exchange slide on the back of RBI’s recent rule changes that made it stricter for banks to lend for stock-related usage. This led to sharp fall in stock prices of BSE, MCX, Angel One and Groww in early trades but closed mixed.



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Investment in subsea cable network to create thousands of green jobs

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Investment in subsea cable network to create thousands of green jobs



A power firm has announced a multimillion-pound investment in the subsea cable network serving Scotland’s islands, in a move expected to create “thousands of high-quality green jobs”.

SSEN Distribution is set to upgrade its network of 113 subsea electricity cables, which provide power to 60 islands, saying it will improve resilience and increasing capacity to meet growing demand.

The work is set to support more than 450 specialised jobs each year for up to eight years – which the company said equates to or more than 3,500 fixed-term roles in and around installation sites and at company bases.

SSEN said the investment – worth up to £950 million – will enable islanders to connect new technologies like electric vehicle (EV) chargers, solar panels and heat pumps to the network.

It is also expected to benefit local energy generators looking to produce and export green power, and to support the decarbonisation of island-based industries such as distilleries.

The announcement was welcomed by Energy Secretary Gillian Martin, who said it would help the country achieve its net zero target.

“This welcome investment by SSEN Distribution will help upgrade the subsea network serving Scotland’s islands, improving its resilience and supporting Scotland’s net zero ambitions,” she said.

“It will also support thousands of high-quality green jobs and drive new growth across the local, regional and national economies as part of our net zero transformation.”

Kevin Galbraith, SSEN Distribution’s subsea project director (large capital delivery), said: “Subsea connections are becoming ever more important as Scotland’s island communities seek to invest in EV charging, heat pumps, and the decarbonisation of their industries.

“In addition to providing the networks fit for supporting this growth in the use of clean power, these framework agreements will also underpin the ambitions of islanders to generate, store, and export more renewable energy.”

The work of upgrading the network will be delivered by five “contract partner” companies, with a “strong focus” on using locally-based supply chains.

The firms are Burntisland-based Briggs Marine; DOF Subsea UK and N-Sea, both of which have bases in Aberdeen; and Enshore Subsea and Jan De Nul.

Specific projects will be allocated according to each contract partner’s specialisms and resources.

SSEN said working with multiple companies will enable multiple subsea cables to be upgraded at the same time during the relatively narrow summer window, when weather conditions are more favourable.

Mr Galbraith went on: “The agreements themselves will ensure delivery of this investment will be rolled out in a seamless, co-ordinated way, and this will provide both customers and supply chains with the certainty they’re looking for.

“This multi-year investment will also provide greater job security and new opportunities for employment in this growing sector.”



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Six of Sarah Ferguson’s companies are being dissolved

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Six of Sarah Ferguson’s companies are being dissolved


Ferguson is listed as an active director for three other businesses registered with Companies House: Ginger and Moss, set up as a lifestyle brand to sell tea, jewellery and housewares, a “motion picture production activities” business called Coat, and Librasol, classified under “artistic creation” on the official register for private companies.



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