Business
Stocks fall as selling pressure persists | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) endured another volatile session on Tuesday, where the benchmark KSE-100 index shed 1,579 points, or 0.94%. After opening on a positive note, the index touched the intra-day high of 168,519, but selling pressure emerged immediately, dragging the market down.
The index hit the intra-day low of 165,997 towards the end of trading. Tuesday’s decline marked the second consecutive session of losses, following a 0.73% drop on Monday. Despite early optimism, investors remained cautious, leading to profit-taking in key sectors. The index appears to be in a consolidation phase, hovering around key support zones.
Arif Habib Limited (AHL) remarked that selling pressure persisted for the second session, when the KSE-100 traded down to Monday’s low of 166k. Some 26 shares rose while 73 fell with HBL (+3.56%), Engro Fertilisers (+1.54%) and Askari Bank (+3.85%) contributing the most to index gains. On the flip side, Hub Power (-3.75%), Engro Holdings (-2.7%) and Lucky Cement (-3.09%) were the biggest drags, it said.
Among economic news, AHL mentioned, the State Bank of Pakistan (SBP) governor sees inflation holding steady, although further interest rate cuts will depend on the impact of recent floods and the outcome of ongoing International Monetary Fund (IMF) review. For the index, 166k is emerging as a key level and it will need to immediately regain 167.2k to target the 170k mark, AHL added.
KTrade Securities, in its market wrap, noted that the PSX concluded another volatile session in negative territory as the benchmark KSE-100 index lost 1,579 points (-0.94%) to close at 166,174. The decline was driven by rising geopolitical tensions with India and ongoing economic concerns, particularly in the context of IMF review and fiscal scrutiny.
Heavyweight stocks from sectors such as power, energy, cement, fertiliser and oil & gas exploration were among the major contributors to the downside. Despite the market-wide sell-off, investor sentiment remained cautiously optimistic, with many participants staying engaged in anticipation of clarity on macroeconomic developments, KTrade said.
Topline Securities commented that following Monday’s downbeat momentum, bears kept their firm control in Tuesday’s session as well. The KSE-100 index opened on a positive note, with bulls charging ahead to push the market up by 766 points. However, the optimism was short-lived as selling pressure intensified midway through the day.
The index nosedived to the intra-day low of 1,755 points before eventually settling at 166,174, down 1,579 points. It attributed the negative close mainly to heavy profit-taking by local institutions, which overshadowed early gains and dragged the market into the red.
The decline was driven by losses in Hub Power, Engro Holdings, Lucky Cement, Mari Energies and UBL, which pulled the index down by 986 points. Partial support came from HBL, Engro Fertilisers, Askari Bank and Allied Bank, which contributed 380 points, Topline stated. JS Global analyst Mohammed Waqar Iqbal said that the benchmark index remained under pressure and faced volatility as profit-taking continued to impact the market.
Overall trading volumes slightly decreased to 1.266 billion shares from Monday’s tally of 1.274 billion. The value of shares traded stood at Rs54.2 billion. The PSX announced on X that on Tuesday, 54% of the total traded value was in Shariah-compliant stocks.
Shares of 487 companies were traded. Of these, 183 closed higher, 267 fell and 37 remained unchanged.
PTCL was the volume leader with trading in 180.6 million shares, falling Rs0.27 to close at Rs31.14. It was followed by The Bank of Punjab with 134.7 million shares, rising Rs0.62 to close at Rs35.08 and Cnergyico PK with 90.7 million shares, edging down Rs0.03 to close at Rs8.76. Foreign investors sold shares worth Rs614 million, the National Clearing Company reported.
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Waitrose is set to remove mackerel from its shelves amid escalating concerns over unsustainable fishing practices.
The retailer said that it is the first major UK supermarket to suspend sourcing of the popular fish.
It said that fresh, chilled, and frozen mackerel, primarily sourced from Scottish waters, will be unavailable to shoppers by 29 April. Tinned varieties will follow once the current stock is depleted.
Conservationists are welcoming the move and urging other supermarkets to follow suit.
The measure comes as governments have repeatedly failed to implement catch limits recommended by scientists, jeopardising the long-term viability of mackerel stocks.
The International Council for Exploration of the Sea (ICES) has issued stark warnings, advising a 70 per cent reduction in catches for 2026 across all regional mackerel stocks compared to 2025’s recommended levels.
With the stock consistently fished above sustainable thresholds, this translates to a 77 per cent cut on the 755,143 tonnes scientists estimated would be caught in 2025.
Overfishing has resulted in depleting mackerel stocks in the north-east Atlantic, with Ices saying the species, and the wider fishing industry, could face long-term risks unless countries stick to recommended catch limits.
Waitrose said the decision in December by four of the coastal states which fish mackerel to cut catches by 48 per cent was a step forward, but did not meet Ices advice.
North-east Atlantic mackerel will no longer meet the supermarket’s responsible sourcing requirements in line with the Sustainable Seafood Coalition codes of conduct, the retailer said.
Jake Pickering, head of agriculture, aquaculture and fisheries at Waitrose, said: “By suspending sourcing of mackerel at Waitrose we are reinforcing our ethical and sustainable business commitments, acting to tackle overfishing and protect the long-term health of our oceans and this crucial fish.
“Our customers trust us to source responsibly, and we are closely monitoring the fishery.
“We look forward to bringing mackerel back to our shelves once it meets our high sourcing standards.”
As alternatives, Waitrose is launching a new range of fish products including hot smoked herring, hot smoked peppered herring and hot smoked sweetcure seabass, all of which are Marine Stewardship Council (MSC) certified.
The retailer said it would also introduce MSC-certified frozen sardines from May as a sustainable replacement for frozen mackerel, and plans to become the first retailer to sell 100 per cent MSC tinned sardines.
Waitrose said it would maintain its relationship with its mackerel suppliers and its new supply of herring, seabass, sardines and trout will be sourced through current supplier partnerships.
But there is currently no predetermined time-frame as to when Waitrose will start sourcing mackerel again.
Marija Rompani, director of ethics and sustainability at the John Lewis Partnership, said: “We believe sustainable food production must balance climate action, nature protection and responsible fish sourcing is fundamental to protecting our oceans.
“We will continue to work closely with suppliers and industry partners to support the recovery and responsible management of fish stocks.”
Charles Clover, co-founder of conservation charity Blue Marine Foundation, said mackerel – one of the largest remaining commercial fish stocks in the north-east Atlantic – had declined 75 per cent in the last 10 years because fishing nations, including the UK, had overfished it.
“They have put too little effort into the task of reaching agreement on a sharing arrangement – and some countries have been awarding themselves more quota than is justified by science,” he said.
“This crisis has been ignored for too long.
“We hope that this action by Waitrose sends it to the top of the political agenda. We call on other retailers to follow Waitrose’s example.”
The arrival of a salary credit message at the beginning of the month often brings a sense of relief and optimism, with many planning to save money or make long-delayed purchases. However, for a large number of salaried individuals, that confidence fades quickly as expenses begin to pile up. Rent, electricity bills, EMIs, online purchases, dining out and everyday spending gradually reduce bank balances, leaving many struggling by the third week of the month. (News18 Hindi)
Financial experts say that recurring cash shortages are often not caused by insufficient income but by poor money habits. Small and unnoticed mistakes in managing personal finances can gradually weaken long-term financial stability. The good news, experts note, is that these habits can be corrected with simple changes and better planning. (News18 Hindi)
1. One of the most common mistakes is the absence of a proper budget. Many people begin spending as soon as their salary is credited without deciding in advance how the money will be used. Without a clear spending plan, expenses tend to rise uncontrollably. Experts recommend allocating money for essential needs such as rent, groceries, utility bills and savings immediately after receiving a salary. Preparing a simple budget by listing fixed monthly expenses in a notebook or mobile app can help maintain financial discipline. (News18 Hindi)
2. Frequent small online purchases also contribute significantly to unnecessary spending. With doorstep deliveries and frequent discounts, cashback offers and flash sales, consumers often buy items that are not essential. While individual purchases may seem minor, repeated spending of a few hundred or thousand rupees can add up to a substantial amount by the end of the month. Financial planners advise clearly distinguishing between needs and wants before making purchases. (News18 Hindi)
3. Another major mistake is the absence of an emergency fund. Unexpected expenses such as medical bills, urgent travel or home repairs can disrupt monthly budgets. Without savings set aside for emergencies, many individuals rely on credit cards or loans, which can lead to debt and reduce the following month’s disposable income. Experts suggest building an emergency fund gradually, ideally covering at least three months of essential expenses. (News18 Hindi)
4. Saving only what remains at the end of the month is another common but ineffective approach. In most cases, little or no money is left after regular spending. Financial advisers recommend setting aside savings as soon as the salary is credited, a strategy often referred to as the “pay yourself first” principle. This method helps create a consistent saving habit. (News18 Hindi)
5. Spending to maintain a certain lifestyle is also a growing concern, particularly in the age of social media. The desire to match others’ lifestyles often leads to purchases such as expensive gadgets, branded clothing or frequent dining out, even when these expenses exceed one’s income. Experts warn that such spending patterns can increase financial stress and recommend aligning lifestyle choices with income and financial priorities. (News18 Hindi)
To improve financial discipline, experts advise reviewing expenses from the previous three months to understand spending patterns. Based on this assessment, individuals can create a simple plan that divides income into spending, saving and investing. Automated savings options such as Systematic Investment Plans (SIPs) or recurring deposits can help ensure consistent saving. Even small financial changes, experts say, can lead to significant long-term benefits. (News18 Hindi)
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