Business
T-bill auction boosts investors confidence, propels KSE-100 to record high | The Express Tribune
KARACHI:
Pakistan’s stock market extends record run
KSE-100 index nears 153,000; liquidity boost, heavyweights lift index to new peak
OUR CORRESPONDENT
KARACHI
The Pakistan Stock Exchange (PSX) continued its north-bound march on Thursday, with the benchmark KSE-100 index scaling another all-time high. The index added 464 points, or 0.30%, to settle at 152,666, as bullish momentum showed little sign of slowing.
“The session kicked off on a strong note, with investors doubling down on fertiliser, cement, technology, and E&P stocks,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. Heavyweights such as Fauji Fertiliser Company (FFC), cement major Lucky Cement (LUCK), tech leader Systems Ltd (SYS), and Mari Petroleum (MARI) were the standout performers, together contributing 434 points to the day’s gains.
Market sentiment was further buoyed by the government’s latest Treasury Bill auction, which raised Rs491 billion against a target of Rs400 billion. Analysts noted that steady yields, with only the one-month tenor easing by 14 basis points, highlighted robust liquidity in the system and reinforced investor confidence.
Despite a slight dip in volumes compared to the previous session, overall activity remained strong. Turnover stood at 954 million shares, worth Rs46 billion. The Bank of Punjab (BOP) once again dominated the volume charts, with 99.5 million shares changing hands, underscoring sustained retail and institutional interest.
Market watchers see 150,000 points as a solid support level, with the index now within striking distance of the much-anticipated 153,000 milestone. Analysts believe abundant liquidity and risk-on sentiment will continue to drive fresh highs, as the bulls maintain their grip on the market.
Last Updated:
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.
Click here to add News18 as your preferred news source on Google.
Follow News18 on Google. Join the fun, play games on News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
March 08, 2026, 10:03 IST
Read More
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.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
Gold On Sale In Dubai? Here’s Why Prices Have Dropped By $30 Per Ounce
King Charles crucial trip comes to screeching halt amid new conflict
Removing NTBs could boost trade with US: Bangladesh commerce minister
LPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
Pakistan’s semi-final qualification scenario after England defeat New Zealand
-
Sports1 week agoLPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’
-
Business1 week ago
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
-
Fashion1 week agoSouth Korea’s Misto Holdings completes planned leadership transition
-
Entertainment1 week agoPakistan’s semi-final qualification scenario after England defeat New Zealand
-
Entertainment1 week agoBobby J. Brown, “The Wire” and “Law & Order: SUV” actor, dies of smoke inhalation after reported fire
-
Business1 week agoCNBC To Merge TV And Digital News Operations, Nearly A Dozen Jobs To Be Cut: Report
-
Business1 week agoGreggs to reveal trading amid pressure from cost of living and weight loss drugs
-
Entertainment1 week agoWhat’s new in Pokémon? Every game, update, surprise from 30th anniversary event