Business
PSX sheds 1,382 points amid heightened global tensions | The Express Tribune
Trading at the Pakistan Stock Exchange (PSX) slumped sharply on Wednesday as caution gripped investors amid escalating geopolitical tensions, particularly between the United States and Iran, and fears of a potential US strike on Tehran that have rattled markets and lifted oil prices.
The benchmark KSE-100 index fell 1,381.69 points, or 0.75% to close at 182,569.82, after swinging between an intraday high of 184,726.60 and a low of 182,369.87. Profit booking after recent gains, coupled with persistent selling, kept market sentiment subdued throughout the session.
Analysts believe the cautious mood reflected investors locking in gains and shying away from fresh exposure as regional uncertainty deepened, keeping the local bourse under pressure for most of the day.
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• KMI-30: Pullers & Draggers pic.twitter.com/CCrZgffXPU— PSX (@pakstockexgltd) January 14, 2026
KTrade equities trader Ahmed Sheraz observed that PSX closed the session under pressure, with the benchmark KSE-100 index settling at 182,569 points, down 1,381 points or 0.75% on a day-on-day basis.
Market sentiment remained cautious throughout the session, primarily due to escalating geopolitical tensions between Iran and the US. Uncertainty surrounding a potential strike kept investors on the sidelines, while regional Asian markets also remained under pressure, with PSX following the broader trend.
Read: Exports dip 20% despite high inflows
Total volumes clocked in at 444 million shares. Sector-wise, selling was broad-based across banks, cements, fertilisers, technology, power, and pharma stocks. On a scrip-wise basis, notable pressure was observed in United Bank, MCB Bank, Fauji Fertiliser, Lucky Cement, Hub Power, Habib Bank, Pakistan Telecommunication, National Bank, and Systems Limited, he added.
Oil and gas stocks were the sole exception, supported by expectations of higher global oil prices, which helped Oil and Gas Development Company and Pakistan Petroleum to close in positive territory.
Looking ahead, the market is expected to remain range-bound and volatile in the near term until greater clarity emerges on the geopolitical front. From a longer-term perspective, Sheraz anticipated the overall market outlook to remain intact and advised investors to remain cautious while gradually accumulating quality blue-chip stocks on dips.
Overall trading volume remained nearly flat at 1.034 billion, compared with Tuesday’s 1.037 billion. The value of traded shares stood at Rs65.9 billion.
Shares of 483 companies were traded. Of these, 90 rose higher, 352 fell, and 41 remained unchanged. K-Electric was the volume leader with trading in 56.3 million shares, losing Rs0.02 to close at Rs6.33.
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Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
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March 08, 2026, 10:03 IST
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Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
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