Despite early volatility, the Pakistan Stock Exchange (PSX) managed to notch up significant gains on Tuesday, surpassing the 64,000 barrier in a rally powered by the strengthening rupee and foreign corporate inflows. In the morning, the bourse made a bearish start and dropped to its intra-day low at 63,549.60 points. The dip came on the back of selling pressure, which emerged following the Mini
Bullish sentiments prevailed in the stock market for the second consecutive session as trade activities through the Torkham border resumed with Afghanistan after remaining suspended since Jan 13, propelling the KSE-100 index above the 64,000-point level on Tuesday. Topline Securities Ltd said equities experienced significant volatility as the benchmark KSE 100-share index hit an intraday low
The government is anticipated to implement another significant hike in gas prices, averaging up to 41%, by mid-February, as part of the ongoing $3 billion loan programme with the International Monetary Fund (IMF). This move is expected to trigger a new wave of inflation in a market already grappling with persistent price pressures. The IMF asserts that increasing gas prices is essential to curb
Oil prices inched up Tuesday, as traders weighed production outages in the US and tensions in the Middle East and Europe against rising crude supply in Libya and Norway. Brent crude futures were up 30 cents, or 0.4%, to $80.36 a barrel at 1618 GMT. US WTI crude futures gained 46 cents, or 0.6%, to $75.22 a barrel. In the ME, tensions rose the morning after US and British forces carried out a
Pakistani currency maintained its uptrend for the fifth successive working day on Tuesday, appreciating to a new three-month high above Rs279.50 against the US dollar in the inter-bank market in the wake of improved inflows of the foreign currency compared to its demand. According to State Bank of Pakistan’s (SBP) data, the rupee improved 0.02%, or Rs0.06, and closed at Rs279.79 against the gre