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PSX hits historic 156,000 mark as investor confidence surges | The Express Tribune
Pakistan Stock Exchange (PSX) continued its remarkable momentum on Monday as the benchmark KSE-100 index crossed the 156,000 mark for the first time in history, which represented robust investor confidence and chances of high growth in Pakistan’s economy.
At the close of trading, the index registered a surge of 1,810.11 points, or 1.17%, at 156,087.31.
The unprecedented milestone was hailed as a moment of national celebration and Prime Minister Shehbaz Sharif himself expressed profound satisfaction over the PSX’s performance. In a statement, the premier lauded the efforts of his economic team, emphasising that the landmark performance reflects the business community’s growing confidence in the government’s reform-driven economic policies.
“The PSX’s record performance showcases the resilience of our economy and the trust of investors in our forward-looking policies,” the PM remarked.
Arif Habib Limited Head of Research Sana Tawfik told The Express Tribune that multiple factors were driving the bullish sentiment. First of all, investor enthusiasm grew following news that the government was actively working to resolve the longstanding circular debt issue in the energy sector, a key challenge afflicting Pakistan’s economy.
Market performance improved as stakeholders widely anticipated the announcement of the status quo in the upcoming State Bank of Pakistan’s (SBP) monetary policy committee meeting. A stable policy rate is believed to support business activity and investment, she said.
Additionally, expectations of growth in the construction and cement sectors, particularly in the wake of post-flood reconstruction, attracted significant buying interest in attractive stocks.
Besides, projections of handsome, and in some cases better-than-expected, quarterly earnings from key sectors added to investor optimism, which reinforced the bullish outlook.
“Given the confluence of macroeconomic stability, policy clarity and sector-specific triggers, the bullish trend is expected to continue unabated in the near term,” Tawfik said.
Overall trading volumes increased to 1.13 billion shares compared to 1.08 billion in the previous session. Traded value stood at Rs62.3 billion.
Shares of 482 companies were traded. Of these, 229 stocks closed higher, 228 fell and 25 remained unchanged. K-Electric was the volume leader with trading in 93.7 million shares, rising 28 paisa to close at Rs5.62.
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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India
Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.
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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India
Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.
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