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PSX rebounds as retail investors return | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) staged a significant rebound on Tuesday, marking a reversal of the recent corrective sessions, as investors returned to build fresh positions. The benchmark KSE-100 index closed near 184,000, with a gain of over 1,500 points.
Earlier, trading opened on a cautious note, when the index edged higher briefly before coming under pressure. Ahead of midday, profit-taking pushed the index down to the intra-day low of 180,590. Market momentum improved in the latter half as buying interest strengthened across the board. The index moved steadily higher, touching the intra-day peak of 184,305, before settling slightly lower.
KTrade Securities mentioned that the PSX staged a strong rebound, with the KSE-100 index closing at 183,952, up 1,567 points (+0.86%), marking a clear reversal after recent corrective sessions. Early-session selling pressure was effectively absorbed by retail and selective institutional buying, allowing momentum to build decisively in the second half, it said.
The index traded within a range, hitting the intra-day low near 180,590 and the high of 184,305, while volumes clocking in at 437 million shares. Sector-wise, the rally was broad-based, led overwhelmingly by commercial banks, which contributed most points to the index.
Support also came from oil & gas, cement and technology stocks, reinforcing the strength of the move. Among individual shares, UBL, National Bank, MCB Bank, Lucky Cement, Meezan Bank, PTCL, OGDC and Pakistan Petroleum were the major gainers. The momentum is expected to continue, subject to developments on the geopolitical front, particularly the Iran-US tensions. Barring any external shocks, the outlook for the PSX remains positive, KTrade remarked.
Arif Habib Limited Deputy Head of Trading Ali Najib wrote that consolidation continued at the PSX on Tuesday as the KSE-100 closed at 183,952, up 1,567 points. The market experienced notable intra-day volatility, hitting a high of 184,305 and a low of 180,590. However, value buying emerged at lower levels, enabling the index to settle in the positive territory, he said.
On the diplomatic front, Indonesia’s defence minister met Pakistan’s air force chief in Islamabad to discuss a potential defence deal, including the sale of combat jets and drones. This follows reports of growing international interest in Pakistan’s defence exports, a major positive for the overall economy and the perception.
The PSX recovery was led by banks and cement stocks, which collectively added 938 points, while Fauji Fertiliser, Sazgar Engineering and Haleon Pakistan weighed on the performance, erasing 157 points. The consolidation phase may persist within the 180-187k range amid geopolitical uncertainty, while any pullback is likely to be treated as a buying opportunity, given strong underlying fundamentals, Najib said.
Goldman Sachs CEO David Solomon speaks during an interview at the Economic Club of Washington in Washington, D.C., U.S., Oct. 30, 2025.
Kevin Lamarque | Reuters
Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Thursday.
Here’s what Wall Street expects:
- Earnings: $11.67 per share, according to LSEG
- Revenue: $13.79 billion, according to LSEG
- Trading revenue: Fixed income of $2.93 billion, equities of $3.70 billion, per StreetAccount
- Investing banking fees: $2.58 billion, per StreetAccount
Goldman Sachs is set up to be a beneficiary of several trends in the fourth quarter.
Trading desks across Wall Street have benefited in the last year as President Donald Trump’s policies have roiled markets for bonds, currencies, commodities and stocks.
For instance, rival JPMorgan Chase topped expectations for fourth-quarter results on equities and fixed income trading revenue that exceeded the StreetAccount estimate by a combined $460 million.
Global investment banking revenue in the quarter was 12% higher than a year ago, according to Dealogic, which should provide a boost to Goldman’s advisory business.
The firm’s asset and wealth management division should also see gains as stock market levels remained buoyant in the quarter.
Finally, the bank said last week that its deal to offload its Apple Card business to JPMorgan would result in a 46-cents-per-share boost to quarterly results.
This story is developing. Please check back for updates.
Last Updated:
X decision came after facing outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of real people.
Elon Musk’s Grok can no longer undress images of real people on X. (Representative Image)
Amid the rising concerns over the sexualised AI deepfakes in countries including the UK and US, Elon Musk’s Grok artificial intelligence chatbot will no longer edit “images of real people in revealing clothing” on X, the company confirmed Wednesday evening.
The company’s decision came after facing global outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of adults and, in some cases, children.
“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis. This restriction applies to all users, including paid subscribers,” X wrote via its Safety team account.
Within the last week xAi, which owns both Grok and X, restricted image generation for Grok on X to paying X premium subscribers
CNN reported that it has been observed that in the last few days, Grok’s X account had modified how it responded in general to users’ image generation requests, even for those subscribed to X premium.
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United States of America (USA)
January 15, 2026, 08:34 IST
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Elon Musk’s AI model Grok will no longer be able to edit photos of real people to show them in revealing clothing, after widespread concern over sexualised AI deepfakes in countries including the UK and US.
“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis.
“This restriction applies to all users, including paid subscribers,” reads an announcement on X, which operates the Grok AI tool.
The change was announced hours after California’s top prosecutor said the state was probing the spread of sexualised AI deepfakes, including of children, generated by the AI model.
The update expands measures that stop all users, including paid subscribers, editing images of real people in revealing outfits.
X, formerly known as Twitter, also reiterated in a statement on Wednesday that only paid users will be able to edit images using Grok on its platform.
This will add an extra layer of protection by helping to ensure that those who try and abuse Grok to violate the law or X’s policies are held accountable, it said.
Users who try to generate images of real people in bikinis, underwear and similar clothing using Grok will be stopped from doing so according to the laws of their jurisdiction, X’s statement said.
In a statement on Wednesday, California Attorney General Rob Bonta said: “This material, which depicts women and children in nude and sexually explicit situations, has been used to harass people across the internet.”
Malaysia and Indonesia have blocked access to the chatbot over the images and UK Prime Minister Sir Keir Starmer warned X could lose the “right to self regulate” amid outrage over the AI images.
Britain’s media regulator, Ofcom, said on Monday that it would investigate whether X had failed to comply with UK law over the sexual images.
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