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PSX rises on IMF tranche hopes, earnings momentum

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PSX rises on IMF tranche hopes, earnings momentum


A broker is busy in trading at the Pakistan Stock Exchange (PSX) in Karachi on Thursday, December 5, 2024. — PPI

The stock market rose on Monday as investors priced in an imminent International Monetary Fund (IMF) tranche and a stabilising regional backdrop amid earnings season momentum, with rupee steadiness and firming oil prices supporting risk appetite.

During the session, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 163,935.02, gaining 2,303.29 points, or 1.43%, and registered a low of 161,892.59, reflecting a gain of 260.86 points, or 0.16%.

“Bullish activity witnessed on strong earnings outlook and imminent receipt of IMF tranche. Rupee stability and surging global crude oil prices played a catalyst role in bullish activity at PSX,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.

The International Monetary Fund’s board is expected to approve a $1.2 billion disbursement for Pakistan, with State Bank of Pakistan (SBP) Governor Jameel Ahmad telling analysts last week that a board meeting is likely by December to release funds under both the Extended Fund Facility and the Resilience and Sustainability Facility. 

On the macro front, weekly inflation measured by the Sensitive Price Indicator rose 0.12% in the week to October 30, taking the SPI to 335.53 from 335.14; on a year-on-year basis, the SPI was up 5.05%, according to the Pakistan Bureau of Statistics. 

After a losing streak earlier in the week, the market turned higher on Friday, gaining 4,898.86 points (3.13%) to close at 161,631.73 from 156,732.87. Analysts expect range-bound trade in the near term as investors track IMF timing, earnings releases, and developments on the Pakistan-Afghanistan ceasefire.





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Cardi B makes game-day debut cheering on boyfriend Stefon Diggs

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Cardi B makes game-day debut cheering on boyfriend Stefon Diggs


Cardi B supports boyfriend Stefon Diggs at Patriots match

Cardi B made her first in-person appearance at boyfriend Stefon Diggs’ New England Patriots game on Sunday.

The rapper, 33, could be seen proudly cheering him on from the stands at Gillette Stadium in Foxborough, Massachusetts.

During the game, Cardi sat beside Patriots owner Robert Kraft as cameras repeatedly panned to her throughout the game.

Cardi also took to Instagram with a glimpse of her outfit, calling her look “WAG material” as she was dressed in a merlot Bottega Veneta trench coat, matching gloves, and Hermès Birkin bag.

The Up hitmaker, who’s pregnant with her and Diggs’ first child, also joined in on the fun by mimicking her boyfriend’s touchdown dance, covering her face with one hand and waving the other.

“Nah, she picked it up on her own,” Diggs joked with reporters after the game. “Dance moves are a little shaky though, so I’ll look into that for y’all.”

After the Patriots’ win over the Falcons, the couple celebrated together on the field. “Am I doing it good?” Cardi asked while repeating the move. Diggs laughed, replying, “It’s decent.”

Diggs is Cardi’s first major relationship since her split from Offset, with whom she shares three children: Kulture, 7, Wave, 4, and Blossom, 14 months.





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Newly-married Carly Rae Jepsen expecting first baby with Cole M.G.N.

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Newly-married Carly Rae Jepsen expecting first baby with Cole M.G.N.


Newly weds Carly Rae Jepsen and Cole M.G.N. expecting first baby

Carly Rae Jepsen and her husband, producer Cole M.G.N., are expecting their first child together, the singer confirmed Friday.

The Call Me Maybe singer, 39, confirmed the news on Friday via an Instagram post.

“Oh hi baby,” Jepsen captioned a set of black-and-white photos showing her sitting beside Cole and cradling her baby bump.

Her husband replied with three heart-eyed emojis.

Jepsen and Cole got married on October 4 at New York City’s historic Chelsea Hotel. The intimate ceremony, held in the Bard Room, was attended by about 100 guests, according to Vogue.

The couple first announced their engagement on September 23, when Jepsen shared a series of romantic outdoor photos on Instagram, writing, “Very engaged over here.”

Jepsen and Cole first met while collaborating on her 2023 album The Loveliest Time. In a past interview, she revealed their song So Right captured their “meet-cute.” The track even opens with a skit about whether or not it’s a “good idea” for them to hang out together after-hours.





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Buckingham Palace gets chills running down its spine as it announces DEFCON-1

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Buckingham Palace gets chills running down its spine as it announces DEFCON-1


Buckingham Palace announces DEFCON-1 as Parliament preps action

Buckingham Palace has recently seen DEFCON-1 being announced, and according to sources, there is a frenzy going on in the Firm as a result.

For those unversed, this is all due to the public calls for Andrew to be stripped of not just his dukedom or military honors, but also the title of prince that he enjoys as the younger brother of the reigning monarch, and son of the late Queen Elizabeth II.

A warning about the Firm’s state has been shared by a Whitehall source. According to their findings, the reason for DEFCON-1 was Andrew’s title fiasco that rocked the Firm, reason being Parliament “was sniffing around” according to celebrity news reporter Rob Shuter.

On his substack he explained that, behind closed doors, senior MPs has begun talks about Andrew’s behavior and conduct, and there were even plans to have him summoned “to testify under oath.”

According to the reporter, “the moment lawmakers start treating a royal like a cabinet minister, everything collapses. That’s DEFCON-1 at the Palace.”

For those unversed, should Parliament step in once into the Firm’s ‘jurisdiction’, they “can do it again. And if they tug the Andrew thread, more follows: private security, foreign dealings, royal finances, Queen Elizabeth’s decisions. The mere specter of hearings sent chills down centuries of royal precedent,” he added too.

According to Mr Shuter, that is why Andrew’s title was handled as swiftly as it was, and “we have never seen royal paperwork move that quickly,” he even added.

A big reason for that though, is because “the King had leverage — Prime Minister Keir Starmer owes him for discreet whispering in Donald Trumps ear. Lammy didn’t blink.”

However, before the news signed off a senior advisor was also quoted saying that King Charles’ reasons for going this route were not because “for shame,” instead Andrew “was sacrificed to protect the system.”





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