Business
PSX plunges over 2,750 points as profit-taking erupts | The Express Tribune
KSE-100 hits intra-day low of 168,828 after aggressive selling wipes out early gains
KARACHI:
The Pakistan Stock Exchange (PSX) witnessed a major sell-off during Thursday’s session, with the benchmark KSE-100 index plunging by over 2,400 points to close at above 169,170 points.
The KSE100 closed at 169,173 points, registering a decline of 2,405 points (-1.40% DoD), as selling pressure dominated throughout the session. Early stability proved short-lived, with the market drifting lower as sentiment weakened amid persistent external uncertainties.
Activity remained moderate, with KSE-100 volumes recorded at 310 million shares, where YOUW led with 58m shares traded, followed by CNERGY (48m) and KEL (36m). The downturn was largely driven by renewed concerns over rising global oil prices and escalating geopolitical tensions between Iran and the United States.
Read More: Governance gap costs billions
With Brent crude hovering in the $102–104 per barrel range and no clarity on potential negotiations or diplomatic engagement, investor confidence remained fragile, prompting a risk-off stance across the board, according to Ahmed Sheraz, KASB KTrade.
Heavyweight sectors bore the brunt of the decline, particularly commercial banks and oil & gas stocks. Key index laggards included FFC, UBL, MEBL, PPL, BAFL, MARI, ENGROH, and EFERT, all contributing significantly to the negative close as broad-based selling persisted in blue-chip names.
Looking ahead, near-term direction remains tied to external developments, especially movements in oil prices and any progress on geopolitical fronts. With Friday’s session approaching, typical end-of-week caution may keep sentiment subdued, while investors are likely to stay on the sidelines awaiting clearer signals over the weekend.
Business
Top stocks to buy today: Stock recommendations for April 24, 2026 – check list – The Times of India
Stock market recommendations: Bharat Electronics, and Colgate-Palmolive (India) have been recommended as the top stocks to buy today (April 24, 2026) by Bajaj Broking Research. Take a look at the target prices and expected returns:Bharat ElectronicsBuy in the range of ₹ 440.00-450.00
The stock is in structural up trend forming higher high and higher low in all time frame signaling strength and continuation of the uptrend. The entire up move of the last 8 months is in a rising channel as can be seen in the chart highlighting sustained demand at an elevated level.On the smaller time frame, the stock is at the cusp of generating a breakout above the bullish Flag like formation as post a sharp up move in the first 3 weeks of April the stock went into a consolidation phase in the last four sessions. It is seen resuming up move and is at the cusp of generating a breakout above the bullish Flag formation highlighting continuation of the up move and offers fresh entry opportunity.We expect the stock to extend the up move and head towards 495 levels in the coming months being the confluence of the 123.6% external retracement of the previous decline 473 – 400 and the upper band of the rising channel of the last 8 months.Colgate-Palmolive (India)Buy in the range of 2120-2160
The share price of Colgate-Palmolive has generated a breakout above bullish Flag pattern signaling continuation of the up move and offers fresh entry opportunity.We expect the stock to head higher towards 2330 levels in the coming months being the measuring implication of the bullish flag breakout.The daily 14 periods RSI is in buy mode thus supports the positive bias in the stock.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
It is unusual for a senior figure at the Bank to be so forthright on market movements.
Source link
Consumer confidence has fallen for the third consecutive month amid household “jitters” over rapid price rises, figures show.
GfK’s long-running consumer confidence index fell four points to minus 25 in April, following falls of two points and three points in March and February respectively.
The deepening concern was driven by perceptions of the UK economy, with a six-point slide in confidence for the next 12 months to minus 43, its lowest level since February 2023.
Confidence in personal finances over the coming year fell five points to minus four – one point lower than this time last year.
The major purchase index – an indicator of confidence in buying big ticket items – held steady, albeit at minus 18 but one point better than last April.
The only measure to improve was the savings index – often an indication that households are concerned about their finances and looking to build contingency funds – which is up five points to 32.
Neil Bellamy, consumer insights director at GfK, said: “Consumers really do have the jitters now.
“It is a year since we last saw a monthly drop of this size, and we have to go back to October 2023 to find the last time consumer confidence was lower.
“Everyone is grappling with rapid price rises, especially at the fuel pumps, which are taking a dent out of household budgets, and people know further price hikes are coming.
“Consumer confidence is deteriorating sharply, with fuel prices and threats of more energy price increases acting as constant reminders of inflation.
“While the Gulf crisis is intensifying pressures, much of the current strain reflects earlier domestic cost increases.
“How long can all this disruption and pain continue?”
Vietnam-India seminar boosts textile, leather ties
22 India-backed terrorists killed in Khyber intelligence-based operation, says ISPR
Former Giants co-owner Steve Tisch seen in team’s draft room
-
Fashion1 week agoFrance’s LVMH Q1 revenue falls 6%, shows resilience amid Iran war
-
Entertainment1 week agoIs Claude down? Here’s why users are seeing errors
-
Sports1 week agoPSL 11: Peshawar Zalmi win toss, opt to field first against Quetta Gladiators
-
Tech1 week agoThe Deepfake Nudes Crisis in Schools Is Much Worse Than You Thought
-
Business1 week agoStandard Life buys rival in £2b deal to create savings giant
-
Tech1 week agoCYBERUK ’26: UK lagging on legal protections for cyber pros | Computer Weekly
-
Fashion1 week agoRaymond unveils luxury Chairman’s Collection Store in Mumbai
-
Sports4 days agoNCAA men’s gymnastics championship: All-time winners list