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SX soars past 183,000 milestone as rally extends on asset-allocation flows – SUCH TV
The equity market rose on Monday, extending the New Year rally as investors leaned into asset-allocation flows and easing macro signals, with the benchmark adding 8,353.92 points (4.80%) across the first three sessions of 2026.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 182,408.23 points, up 3,373.3 points, or 1.88%, from 179,034.93. The session witnessed a low of 179,535.46, up 500.53 points, or 0.28%.
During the session, the index touched a new all-time intraday high of 183,964.37, gaining 4,929.44 points, or 2.75%, from the previous close of 179,034.93. The session witnessed a low of 179,535.46, up 500.53 points, or 0.28%.
The session witnessed a low of 179,535.46, up 500.53 points, or 0.28%. The day’s peak marked a fresh all-time intraday high.
“Overall positive start of the year is witnessed as investors pour in massive liquidity to target year asset allocation,” said AAH Soomro, an independent investment and economic analyst. “Going too fast too soon,” he added.
Research houses flagged a constructive near-term setup. AKD Research said sentiment should strengthen on prospects of foreign portfolio and direct investment inflows.
They added that the KSE-100 Index could extend its uptrend towards 263,800 by December 2026, supported by easing monetary conditions, improving external accounts and steady reform momentum.
The index advanced 6,634 points (3.8% WoW) last week to a record 179,035, aided by a softer-than-expected December 2025 Consumer Price Index (CPI) at 5.6%, reinforcing expectations of further monetary easing.
On Friday, the benchmark jumped 2,679.44 points (1.52%) to 179,034.93, trading between 179,467.84 and 176,709.52.
Over the past week Pakistan’s trade deficit widened 24% year-on-year to $3.7 billion in December 2025, while GDP growth printed 3.7% YoY in 1QFY26.
State Bank of Pakistan (SBP) foreign-exchange reserves rose $13 million week-on-week to $15.9 billion as of December 26, and the rupee appreciated 0.02% to 280.11 per US dollar.
The central bank purchased $6.9 billion from the currency market over the past 12 months, according to official updates. Separately, the Federal Board of Revenue (FBR) collected Rs6.2 trillion in 1HFY26, missing the target by Rs338 billion.
Authorities also explored a $1 billion liability settlement via UAE investment in Fauji Group, the United States signalled renewed interest in partnerships spanning locomotive sales and mineral exploration, and officials outlined plans to launch Pakistan’s first Panda bond in China.
Weekly inflation, measured by the Sensitive Price Indicator (SPI), fell 0.67% in the week ended January 1, 2026, to 333.96 from 336.22; on a year-on-year basis, SPI rose 2.41%, the Pakistan Bureau of Statistics (PBS) said.
By consumption group, the SPI declined 0.62% for the lowest band (up to Rs17,732) and 0.61%–0.73% across higher brackets.
ChatGPT developer OpenAI has halted plans for a significant UK data centre project, citing high energy costs and regulatory challenges as barriers to investment.
The US technology giant had intended to establish its “Stargate” data centre initiative within a new artificial intelligence growth zone in the north-east of England.
The venture was slated for multiple sites, including Cobalt Park near Newcastle and Blyth.
However, OpenAI said the plans are now on hold, awaiting “the right conditions” to facilitate long-term infrastructure investment across the UK.
A spokesman for OpenAI said: “We see huge potential for the UK’s AI future. London is home to our largest international research hub, and we support the Government’s ambition to be an AI leader.
“AI compute is foundational to that goal – we continue to explore Stargate UK and will move forward when the right conditions such as regulation and the cost of energy enable long-term infrastructure investment.”
The reference to energy costs come at a time when prices are being pushed higher by the US and Israel’s war with Iran.
The International Monetary Fund (IMF) said in March that the UK was one of the nations particularly exposed to soaring wholesale costs because of its reliance on gas-fired power, as opposed to sources such as nuclear and renewable energy.
Data centres are powered by very large amounts of energy so are more likely to be exposed to volatile prices.
OpenAI added: “In the meantime, we are investing in talent and expanding our local presence, while also delivering on the commitments under our MOU (memorandum of understanding) with the Government to adopt frontier AI in UK public services.”
Its Stargate project aims to invest billions of dollars into AI infrastructure in the US, with funding from OpenAI, SoftBank, Oracle and MGX and partnering with tech giants including Nvidia and Microsoft.
Building it into the UK came as part of a landmark tech deal between Britain and the US, announced last September amid President Donald Trump’s second state visit.
The deal also included a 30 billion US dollar (£22.3 billion) pledge from Microsoft, the largest ever made by the company in the UK, to fund the expansion of Britain’s AI infrastructure.
Conservative MP and shadow science minister Ben Spencer said: “When global firms cite high energy costs and regulatory uncertainty as reasons to walk away, it tells you everything about the direction of travel.
“For too long, Labour have prioritised courting big tech headlines while neglecting our domestic start-ups, but also the fundamentals that actually attract investment at home.”
Importers are in line for tariff refunds. But whether everyone who paid the for the tariffs will get money back is a trickier question.
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Somerset councillor Heather Shearer said: “One thing the Crisis Resilience Fund wants us to do is not just support people in crisis, it also wants us to work in our community, give more strength and support for the organisations who already support our families.”
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