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PSX extends rally as KSE-100 jumps nearly 1,500 points

ByJustpaste.in

The Pakistan Stock Exchange (PSX) maintained its strong upward momentum on Thursday, with investors continuing aggressive buying across major sectors, pushing the benchmark KSE-100 Index higher by nearly 1,500 points during intraday trading.

By 2:40pm, the KSE-100 Index was trading at 181,488.61 points, reflecting an increase of 1,473.68 points, or 0.82%, compared with the previous session’s close. The latest gain extended the market’s recovery after Wednesday’s sharp rally, indicating renewed investor confidence amid improving domestic and international market conditions.

Market participants said buying activity remained broad-based, with investors accumulating shares in several heavyweight sectors. Strong demand was witnessed in automobile assemblers, cement manufacturers, chemical companies, commercial banks, fertiliser producers, oil and gas exploration firms, oil marketing companies (OMCs), and power generation stocks.

Among the index-heavy companies contributing to the rally were Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Energies (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), MCB Bank, Meezan Bank (MEBL), and National Bank of Pakistan (NBP), all of which traded in positive territory during the session.

The bullish sentiment follows Wednesday’s impressive recovery, when the benchmark KSE-100 Index climbed 2,931.71 points, or 1.66%, to settle at 180,014.93 points. The surge enabled the index to reclaim the important 180,000-point milestone for the first time in 16 trading sessions, signaling renewed optimism among investors.

Analysts attributed the recent gains to easing geopolitical concerns in the Middle East, which have reduced fears of supply disruptions in global energy markets. The decline in international crude oil prices has also helped improve investor sentiment by easing inflationary concerns and strengthening expectations for economic stability.

The recovery has encouraged investors to return to the equity market, particularly in sectors expected to benefit from lower energy costs and improving macroeconomic indicators. Banking and energy stocks remained among the biggest contributors to the benchmark index’s advance.

Meanwhile, global financial markets presented a mixed picture on Thursday. Asian stock markets paused after a technology-led rally in the previous session, while crude oil prices traded within a narrow range as investors monitored developments surrounding potential diplomatic progress between Iran and the United States.

MSCI’s broad index of Asia-Pacific shares excluding Japan declined by 0.69%, weighed down primarily by losses in technology stocks. South Korea’s benchmark index fell 3.64%, while Japan’s Nikkei 225 dropped 1.57%.

Major technology companies also came under pressure. In South Korea, Samsung Electronics slipped 2.44%, while semiconductor manufacturer SK Hynix fell 6.95%. In Japan, memory chip producer Kioxia plunged 9.61%, and Tokyo Electron declined 4.61%.

The cautious mood in Asia followed a weaker overnight performance on Wall Street, where the Nasdaq Composite ended its recent winning streak. Investors reacted to quarterly earnings from major technology companies, including SpaceX and Advanced Micro Devices (AMD).

Although companies continued to highlight strong demand for artificial intelligence-related investments, market participants remained cautious about the sustainability of heavy spending on AI infrastructure. Investors also questioned whether profitable businesses such as satellite internet services could continue financing expensive data centre expansion over the long term.

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    Bilawal urges Kashmiris to shape their own future

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    OPEC+ expected to approve another oil output increase for September

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    OPEC+ is widely expected to approve another increase in oil production when its members meet virtually on Sunday, as the alliance continues to adjust supply while global energy markets remain affected by ongoing geopolitical tensions. According to market analysts, Saudi Arabia, Russia and several other key members of the alliance are likely to raise their combined production target by around 188,000 barrels per day for September. If approved, the increase would continue a series of monthly production hikes introduced this year and is expected to mark the final step in the group’s current plan to gradually restore previously reduced output. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries and allied producers, introduced major production cuts between late 2022 and 2023 after concerns that falling oil prices could weaken global energy markets. Those reductions removed nearly six million barrels of oil per day from the market in three separate phases. As demand gradually recovered, the group shifted its strategy by slowly increasing production, beginning in 2025, to balance supply while supporting market stability. A September increase would complete the reversal of the second package of production cuts introduced during that period. However, analysts note that higher production targets do not necessarily mean actual oil output will increase by the same amount. Several member countries are currently unable to reach their assigned quotas because of declining production capacity, ageing infrastructure or operational challenges. Energy analyst Giovanni Staunovo of UBS said many producers are already pumping below their official targets, making further quota increases less significant in practical terms. He noted that production capacity has declined in several member states, limiting their ability to take full advantage of higher output allowances. Regional tensions have also affected oil exports. Gulf producers continue to face challenges because shipping through the Strait of Hormuz has been disrupted during the conflict involving Iran. Although maritime traffic briefly improved after a memorandum of understanding between the United States and Iran was signed in June, transport through one of the world’s busiest oil routes remains uncertain. Russia is also dealing with production difficulties as repeated Ukrainian drone attacks have targeted parts of its energy infrastructure. Current Russian oil production remains close to nine million barrels per day, well below its official production target of 9.8 million barrels per day, highlighting the gap between quotas and actual output. Some OPEC+ members, including Iraq, have indicated they want to increase production significantly once conditions allow. At the same time, the alliance is reviewing the maximum sustainable production capacity of each member to help determine future output allocations. These discussions are expected to play an important role in setting production quotas for 2027 and beyond. Analysts believe negotiations over future production targets could become more challenging after the September meeting. While they say the alliance remains united for now, the departure of the United Arab Emirates from OPEC+ earlier this year has raised questions about the group’s long term cohesion. The UAE said its decision to leave was based on national interests and long term strategic goals, pointing to major investments aimed at expanding its oil production capacity beyond the limits previously set by the alliance. Despite these challenges, OPEC+ is expected to continue coordinating production policies in an effort to maintain stability in the global oil market as economic uncertainty and geopolitical tensions continue to influence energy demand and supply.

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    Punjab cybercrime crackdown, 28 suspects arrested

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    Pakistan Idol announces long-awaited finale date

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    Pakistan Idol is set to return to television with its much-awaited finale after a prolonged interruption, giving viewers another chance to see the singing competition reach its conclusion. The Pakistani adaptation of the internationally recognised Idol format attracted considerable attention after its return, introducing audiences to several emerging singers and providing them with a national platform. However, the programme faced a number of setbacks during its run. The show was unexpectedly halted, with financial difficulties and the wider economic situation cited among the reasons for the interruption. Reports of disputes involving payments to vendors also added to the controversy surrounding the production. The unexpected suspension left viewers uncertain about whether the competition would ever receive a proper conclusion. Fans repeatedly called for the remaining episodes to be completed, particularly as the programme had already developed a following. The wait now appears to be over. Pakistan Idol has officially announced that a finale episode will be aired on August 23. Superstar Atif Aslam shared the announcement with his followers, confirming the return of the programme for its concluding episode. Atif Aslam’s involvement has added further excitement to the announcement, as the celebrated singer is among the major names associated with the latest season. The judging panel also features prominent names from Pakistan’s music industry, including Fawad Khan, Zeb Bangash and Bilal Maqsood. The judges had previously hinted that the programme could return, keeping hopes alive among its viewers. The announcement has generated a mixed reaction on social media. While many fans welcomed the news and expressed excitement about finally seeing the finale, others questioned how the competition would conclude after such a lengthy interruption. Some viewers also wondered about the fate of the quarter-final and semi-final stages, asking how the production would move directly toward the finale after the extended break. Despite the questions, the announcement has renewed interest in Pakistan Idol. Fans who had been waiting for the competition to receive a proper ending can now look forward to the scheduled finale on August 23.

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    Ali Ansari reveals what really makes romantic scenes hard to shoot

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    Pakistani actor Ali Ansari has opened up about the challenges of performing romantic scenes on screen. He shared his thoughts during a recent appearance on a YouTube show, where he spoke candidly about what makes these scenes difficult to shoot. According to Ansari, the real challenge does not come from the romantic content itself, but from how naturally the dialogue is written. When asked whether he ever feels hesitant while filming romantic moments, he explained that well-written scenes do not cause him any discomfort when working alongside his co-stars. The trouble begins, he said, when the dialogue feels forced or does not fit the situation being portrayed. He noted that sometimes the problem becomes clear even before filming starts, simply by reading through the script. There are moments when a particular line or scene doesn’t feel essential to the story, and that becomes apparent early on. Ansari also spoke about his respect for writers, acknowledging that they include such scenes with the broader narrative and continuity of the story in mind. Still, he admitted that during actual filming, there are times when a scene feels like it’s gone a bit too far or doesn’t sit right with the flow of the story. In such situations, Ansari said he and the team make small adjustments to the dialogue, tweaking the wording slightly. He explained that these minor changes usually help the scene come across more naturally once it’s filmed. The actor’s comments echo a broader conversation happening within Pakistan’s entertainment industry about how romantic and bold scenes are written and portrayed on screen. Similar concerns have been raised recently by other industry figures, including actress and host Mishi Khan, who has spoken about the growing trend of bold scenes in Pakistani dramas. Ansari’s remarks suggest a thoughtful approach to his craft, balancing respect for scriptwriters with his own instincts about what feels authentic in the moment. Rather than dismissing scenes outright, he appears to favor small collaborative fixes that keep both the story’s intent and the performance’s believability intact. His comments come at a time when Pakistani television and film are increasingly under scrutiny for how they handle romantic and intimate content, with audiences and industry insiders alike weighing in on where the line should be drawn between authentic storytelling and content that feels unnecessary or forced.

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    Nicole Kidman shares family photo honoring Dolly Parton

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    Nicole Kidman has shared a touching family photograph featuring herself, her former husband Keith Urban, their two daughters and country music icon Dolly Parton following the devastating news of Parton’s death at the age of 80. As tributes continue to pour in from celebrities, musicians and fans around the world, Kidman remembered the legendary singer by posting a special photograph on her Instagram Story. The image captured a memorable family moment with Parton at a Nashville event. In the photograph, Dolly Parton appeared in her signature glamorous style, wearing a shimmering metallic silver crochet-style top paired with matching fitted trousers. She completed her look with elegant heels, statement jewellery and her iconic platinum blonde hair. Kidman’s decision to share a photograph that also featured Keith Urban attracted particular attention, especially following the former couple’s reported separation. The pair had been married for 19 years before their relationship came to an end. Kidman and Urban separated in 2025, and Kidman reportedly filed for divorce in September that year, citing irreconcilable differences. Their divorce was formally finalised by a Tennessee judge in January after the couple reached agreements regarding their finances and parenting arrangements for their two daughters, Sunday Rose and Faith Margaret. Alongside the family photograph, Kidman added an emotional message dedicated to the late country music star. The text read, “We will always love you, Dolly,” reflecting the affection and admiration she and her family had for Parton. Urban also paid tribute to Parton following the news of her death. The Australian-born musician, who grew up listening to Parton’s music, shared his grief with his followers through his Instagram Stories. He posted a black screen accompanied by a heartfelt message expressing how deeply affected he was by the loss. “Heartbroken today. Dolly Parton. Honestly….. I have no words right now,” Urban wrote. Parton held a particularly meaningful place in Urban’s professional journey. When Urban was chosen for induction into the Nashville Songwriters Hall of Fame in 2023, he made it clear that there was one person he wanted to present the honour. Urban personally wrote to Parton and asked her to induct him into the prestigious institution. He later explained that she was the only person on his list, highlighting the enormous respect he had for the legendary performer and songwriter. Parton’s influence extended far beyond her own music career. Throughout her decades in the entertainment industry, she became known not only for her distinctive voice and songwriting but also for her generosity, warmth and ability to inspire fellow artists. News of Parton’s death has prompted an outpouring of tributes from across the entertainment world. Her representatives confirmed that she had died following a brief battle with cancer, although specific details about the type of cancer were not disclosed. Her passing has left a lasting impact on country music and popular culture. For artists such as Urban, Parton was more than an iconic performer; she was also a source of inspiration and a respected figure whose influence shaped generations of musicians. Kidman’s emotional family photograph offered another glimpse into the personal connections Parton formed throughout her remarkable life, while Urban’s tribute reflected the profound admiration he had for the singer and songwriter. Together, their messages highlighted the enduring legacy of a music legend whose influence will continue to be remembered around the world.

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