تازہ ترین

KARACHI: Buying activity dominated trading at the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index rising more than 500 points during the early session. At around 9:45am, the benchmark index was trading at 180,864.26 points, recording an increase of 553.05 points, or 0.31%, from the previous close. The positive trend reflected renewed investor interest in several major sectors. Strong activity was witnessed in cement, commercial banking, fertiliser, oil marketing companies (OMCs) and power generation stocks. Several index-heavy companies also contributed to the upward movement. HUBCO, Fauji Fertilizer Company (FFC), MCB Bank, National Bank of Pakistan (NBP) and United Bank Limited (UBL) were among the stocks trading in positive territory during the early hours. The latest gains come after the stock market staged a recovery in the previous session. On Wednesday, the PSX rebounded as investors returned to buying after two consecutive sessions of profit-taking. Market sentiment also improved toward the end of Wednesday’s trading session following reports regarding an extension of the US-Iran ceasefire, which helped ease some concerns among investors about geopolitical developments and their potential impact on regional markets. The KSE-100 Index ultimately closed Wednesday’s session at 180,311.22 points. Global markets provide positive cues The positive momentum at the domestic bourse was also supported by a broadly upbeat trend in Asian equity markets. Asian stocks advanced on Thursday after fresh US inflation data broadly matched market expectations. The figures reduced some expectations of an immediate tightening move by the US Federal Reserve and provided support to investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.97%, while South Korea’s benchmark market climbed sharply, gaining 4.4%. Japan’s Nikkei index also advanced 1.86%. US stock futures remained relatively stable, with S&P 500 E-mini futures up 0.02% during the Asian trading session. US inflation remains in focus According to data released on Wednesday, US consumer prices increased by 0.1% in July, broadly matching economists’ expectations. The modest increase in consumer prices has lowered expectations of an immediate interest-rate hike by the Federal Reserve. Market participants are closely monitoring inflation figures as they assess the central bank’s next policy move. According to CME Group’s FedWatch tool, financial markets were pricing in around a 40% probability of a rate hike next month, down from approximately 54% a week earlier. Oil prices remain near $80 Meanwhile, international oil prices remained close to the $80-per-barrel level, as diplomatic efforts between Washington and Tehran remained unresolved. Developments in oil prices remain important for Pakistan’s economy and financial markets because changes in global crude prices can influence the country’s import bill, inflation outlook, exchange-rate pressures and corporate earnings. Investors at the PSX are expected to closely monitor both domestic economic developments and international market cues as trading progresses on Thursday.

The nationwide strike by goods transporters has entered its sixth consecutive day after negotiations with the federal and provincial governments failed to produce a breakthrough. President of the Goods Transporters Association Nabil Mahmood Tariq said the talks had reached a deadlock, with no agreement reached on the key demands of the transport sector. He warned that the strike would continue indefinitely unless the government addressed the concerns raised by transporters. Speaking to Geo News by telephone, Nabil Mahmood Tariq said the negotiations failed because of what he described as the government’s rigid stance. According to him, transporters are particularly concerned about frequent changes in diesel prices, which they say make it difficult to manage transportation costs and business operations. He said the government had also refused to reduce toll taxes or guarantee that existing toll rates would remain unchanged for at least one year. Transporters have maintained that rising operating expenses, including fuel and toll charges, are putting increasing pressure on the sector. The association president said the government had offered limited concessions on customs-related matters and axle-load restrictions, but the proposals were not sufficient to end the strike. He further alleged that authorities had not yet fully assessed the economic consequences of the ongoing shutdown. According to him, the impact would become more visible in the coming days if the dispute remained unresolved. The strike has already begun affecting the movement and supply of essential commodities in several parts of the country. Disruptions in the transportation of fruits and vegetables have raised concerns about shortages and further increases in prices. In Balochistan, the strike has reportedly contributed to higher prices of several food items. In Quetta, for instance, the price of chicken meat has increased from around Rs500 to Rs550 per kilogram amid supply disruptions. Meanwhile, efforts are continuing in Karachi to maintain the supply of vegetables through smaller vehicles. However, transport-sector representatives warn that such arrangements may not be sufficient to meet normal market demand if the strike continues for an extended period. The prolonged protest has raised concerns among traders, consumers and businesses that rely heavily on road transportation. Any further delay in resolving the dispute could increase pressure on supply chains and potentially push up the prices of essential goods.

ISLAMABAD: Electricity consumers may face higher power bills for the next three months as the National Electric Power Regulatory Authority (Nepra) considers a proposal seeking to recover an additional financial burden from consumers through the quarterly tariff adjustment mechanism. Nepra has reserved its decision on a request submitted by electricity distribution companies seeking to pass on around Rs34 billion in additional costs to consumers. According to sources, the proposed adjustment could increase the electricity tariff by approximately Rs1.34 per unit each month for three months. If approved, the additional charge would be reflected in consumers’ electricity bills during the applicable period. The quarterly tariff adjustment is used to account for changes in various costs incurred by power distribution companies, including fluctuations in generation and other sector-related expenses. The adjustment is subsequently passed on to consumers after regulatory scrutiny. Sources said Nepra has not yet issued its final decision on the request. The regulator will examine the financial details and relevant data submitted by the distribution companies before determining whether the proposed increase should be approved in full, partially accepted or rejected. The final decision is expected to clarify the exact amount to be recovered from consumers and the period over which the additional charges will apply. Until Nepra announces its decision, the proposed Rs1.34 per-unit increase remains under consideration and should not be treated as a final tariff hike.