psx faces heavy
|

PSX faces heavy selling as KSE-100 index drops over 1,300 points

ByJustpaste.in

KARACHI: Selling pressure intensified at the Pakistan Stock Exchange (PSX) on Tuesday as investor sentiment weakened amid growing uncertainty over the prospects of a peace agreement between the United States and Iran and the reopening of the strategically important Strait of Hormuz.

The benchmark KSE-100 Index came under pressure during the trading session, losing more than 1,300 points as investors remained cautious and reduced exposure to major stocks across several sectors.

At around 2pm, the KSE-100 Index stood at 179,996.62 points, showing a decline of 1,313.66 points, or 0.72%, from the previous close.

The market witnessed broad-based selling, with several major sectors contributing to the decline. Automobile assemblers, cement companies, commercial banks, fertiliser manufacturers, oil and gas exploration firms and oil marketing companies (OMCs) remained under pressure.

Several index-heavy stocks also traded in negative territory. Prominent companies including HUBCO, Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Habib Bank Limited (HBL), MCB Bank, Meezan Bank (MEBL) and United Bank Limited (UBL) were among the stocks weighing on the benchmark index.

Previous session also ends lower

The latest decline follows a weak close in the previous trading session. On Monday, the PSX initially moved higher but lost momentum during the second half of the session as investors opted to book profits in heavyweight shares.

The KSE-100 Index eventually closed at 181,310.28 points, down 119.74 points, or 0.07%.

The continued weakness suggests that investors are closely monitoring developments in international markets, particularly the situation surrounding oil supplies and the Strait of Hormuz.

US-Iran tensions keep markets on edge

Global financial markets remained unsettled on Tuesday as hopes for an agreement between Washington and Tehran appeared to fade. Negotiations aimed at ending the conflict and restoring normal shipping through the Strait of Hormuz have encountered fresh difficulties.

US President Donald Trump on Monday responded to Iran’s conditions for a possible peace agreement by putting forward his own demands, including calls for compensation related to deaths and losses associated with wars, attacks and protests.

The tougher rhetoric has raised concerns that diplomatic efforts could take longer, potentially prolonging disruptions around the crucial maritime route.

The Strait of Hormuz is one of the world’s most important energy corridors, and prolonged disruption to shipping through the waterway could have significant consequences for crude oil supplies and global energy prices.

Oil prices climb to highest level since July 31

The uncertainty surrounding the situation was reflected in international oil markets. Brent crude futures climbed to around $88 per barrel, while US West Texas Intermediate crude futures rose to approximately $82.45 per barrel.

Both benchmarks reached their highest levels since July 31 after recording gains of roughly 5% during Monday’s trading session.

Higher oil prices are a major concern for economies that depend heavily on imported energy. For Pakistan, sustained increases in global crude prices could increase the country’s import bill and place additional pressure on external accounts, inflation and domestic fuel prices.

The rise in energy prices is also being closely watched by investors because higher input costs can affect corporate profitability and influence monetary policy expectations.

Asian markets remain cautious

The uncertainty was not limited to Pakistan. Asian equity markets moved within a narrow range as investors assessed the potential impact of rising energy prices on inflation and economic growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan moved between gains and losses before trading modestly higher. South Korea’s Kospi also recorded a slight increase.

However, the escalation in tensions around the Gulf kept overall market sentiment fragile, with investors remaining wary of further developments that could affect energy supplies and global trade.

US stock futures were also slightly positive on Tuesday. Nasdaq futures rose around 0.28%, while S&P 500 futures gained approximately 0.1%, following a weaker session on Wall Street on Monday.

Inflation data in focus

Investors are also awaiting the latest US consumer price data, which could provide further clues about the direction of interest rates and inflationary pressures in the world’s largest economy.

The increase in crude oil prices has added another element of uncertainty ahead of the inflation report. A sustained rise in fuel and energy costs could complicate efforts to bring inflation closer to central-bank targets.

For Pakistani investors, the combination of geopolitical uncertainty, higher global oil prices and pressure on heavyweight shares is likely to remain a key factor influencing trading sentiment in the near term.

Similar Posts

  • |

    North Korea battles heatwave with dog soup

    ByJustpaste.in

    North Korea is highlighting traditional foods, health advice and leisure activities as an intense heatwave sweeps across the Korean Peninsula. State media reported that temperatures in the country reached 36.7°C, the highest recorded since modern weather observations began. The extreme heat has also brought a series of unusually warm nights. With the hottest period of summer underway, North Korean media has focused heavily on ways for people to stay cool and maintain their health. One of the recommendations receiving particular attention is dog-meat soup. State media described the dish as a traditional summer food and promoted a long-standing belief that it can help people cope with extreme heat. Other foods recommended by state media include watermelon, cucumbers, mung beans, fish porridge and red-bean porridge. Chicken soup prepared with ginseng, sticky rice and dates has also been promoted as a popular summer meal. Health programmes on North Korean television have urged people to remain hydrated and take precautions while swimming or exercising outdoors. The country has not released figures on deaths linked to the current heatwave. South Korea, meanwhile, has reported more than 20 heat-related deaths. North Korean state media has also used the extreme weather to highlight leader Kim Jong Un’s image as a leader who shares difficult conditions with ordinary citizens. A recent report recalled a 2013 visit by Kim to a construction site during hot weather. The report said his clothes became soaked with sweat during the inspection. According to the account, Kim insisted that important work for the people should continue despite the heat. State media also highlighted other past inspections in difficult weather conditions. These included a trip through mountainous terrain during heavy rain and a visit to a seafood factory where temperatures were reportedly around 39°C. There has been no detailed report on Kim’s activities during the current heatwave. Meanwhile, state television has shown large crowds visiting beaches, swimming pools and water parks to escape the extreme temperatures. Thousands of people have reportedly visited the Wonsan Kalma Coastal Tourist Zone, one of Kim’s major tourism projects on the country’s eastern coast.

  • |

    Heatwave pushes UK death toll towards 2022’s grim record

    ByJustpaste.in

    Britain is edging dangerously close to matching one of its deadliest summers on record, and the peak heat month of August hasn’t even fully arrived yet. The UK Health Security Agency reported that an estimated 2,877 people have already died from heat-related causes this year. That number is nearly twice the total seen throughout all of 2025, and it’s steadily approaching the historic high recorded back in 2022. This latest update comes as the country deals with its fourth heatwave of the year. A string of unusually intense hot spells has already driven temperatures to record-breaking levels in parts of Britain during May and June. The extended dry spell has also worsened conditions on the ground, contributing to a rise in wildfires across several regions. Breaking the numbers down further, most deaths occurred across two distinct periods. Late May accounted for 753 fatalities, while a particularly severe June heatwave saw that number jump sharply to 2,124, prompting authorities to issue a rare red heat-health alert. Even though these figures only cover a two-month window, they already surpass the total number of heat-related deaths recorded across the entire previous year. Experts studying the data believe that roughly 42 percent of these deaths can be traced back to the effects of human-driven climate change. That estimate has reignited concern among scientists and public health officials, who warn that healthcare systems and at-risk populations are facing mounting pressure as extreme heat becomes more frequent. The crisis is not confined to the UK alone. Neighboring countries have also been hit hard, with wildfires sweeping through parts of France, Spain, and Greece. These fires have claimed the lives of several firefighters, forced thousands of residents to evacuate, and caused major disruptions to businesses and travel throughout the affected areas. France’s national health agency confirmed on Wednesday that the country recorded 5,764 excess deaths between June 17 and July 2 alone. Germany has faced a similarly troubling situation, with its national health body, the RKI, reporting on Thursday that around 9,800 people have died from heat-related causes so far this year. As temperatures remain stubbornly high across Europe, health officials continue urging caution, particularly for elderly individuals and those with existing health conditions who face the greatest risk during prolonged heat events.

  • | |

    Why did BTS reject Grammy race this year?

    ByJustpaste.in

    South Korean global music sensation BTS has decided not to submit its music for consideration at the 69th Grammy Awards in 2027, raising fresh debate over the Recording Academy’s newly introduced Best Asian Pop Music Performance category. The seven-member group announced the decision through individual posts on Instagram, saying it wanted music to be appreciated for its artistic value rather than being separated by region or language. “We hope music can be heard and loved for what it is, rather than being divided by region or language,” the group said while confirming it would not participate in the upcoming Grammy submission process. This marks the first time BTS has stepped away from the Grammy competition, despite being one of the most influential global acts and a major force behind the worldwide rise of K-pop. The controversy began after the Recording Academy introduced the Best Asian Pop Music Performance category, which will debut at the 69th Grammy Awards scheduled for February 2027. The category aims to recognise outstanding pop performances from Asian markets, including K-pop, J-pop and C-pop, featuring Asian languages. However, BTS’ decision highlighted concerns among some artists and fans that creating region-based categories could create divisions within global music rather than promoting equal recognition. Responding to the group’s announcement, Recording Academy CEO Harvey Mason Jr. said he was disappointed but respected BTS’ choice. Mason explained that the new category was created to celebrate the diversity, growth and creativity of Asian artists, not to separate them from other musicians. He said the purpose of the award was to provide more opportunities for artists to receive recognition from Grammy voters and emphasized that artists nominated in genre categories could still compete for major awards, including Record of the Year, Album of the Year and Song of the Year. “The category was created to shine a spotlight on important artists and expand recognition,” Mason said, adding that genre categories and major Grammy fields remain open to all eligible musicians. BTS’ decision comes after a major comeback year for the group. The band released its album “ARIRANG” in March 2026 after completing mandatory military service commitments. The album achieved major international success, spending two weeks at the top of the Billboard 200 chart and setting a new milestone for a K-pop act. Over the past decade, BTS has become one of the biggest names in global entertainment, breaking language barriers and helping Korean music gain mainstream acceptance worldwide. The group, consisting of RM, Jin, Suga, J-Hope, Jimin, V and Jungkook, has previously received multiple Grammy nominations and has repeatedly pushed for greater recognition of K-pop within the academy’s major award categories.

  • | | |

    Suicide blast outside Swat police station injures …

    ByJustpaste.in

    A suspected suicide bomber detonated explosives outside the Kabal Police Station in Swat district on Sunday after reportedly failing to enter the premises, leaving several police personnel and civilians injured. According to senior police officials, the attacker tried to force his way into the police station but was intercepted by an alert police officer at the main entrance. Unable to gain access, the suspect blew himself up near the station’s gate, triggering a powerful explosion. Authorities said the police station is located close to the police lines and several other sensitive government installations, raising concerns that the attacker may have intended to target security facilities. Officials credited the swift response of police personnel with preventing the bomber from reaching the compound, which likely averted greater casualties and damage. Initial reports indicated that at least four police officers sustained serious injuries in the blast, while two civilians were also hurt. However, rescue officials later confirmed that more than 15 injured people had been transported to different hospitals for medical treatment, suggesting the number of casualties could rise as rescue efforts continued. Emergency response teams rushed to the scene immediately after the explosion, providing first aid to the injured and shifting them to nearby healthcare facilities. Security forces cordoned off the area, launched a search operation, and began collecting evidence to determine the nature of the attack and identify those behind it. Police officials also clarified that a protest by local youths was taking place in the wider area at the time of the incident, but the demonstration was located some distance from the blast site and was not directly affected.

  • |

    Sharmeen Ali opens up about rebuilding her life after divorce

    ByJustpaste.in

    Pakistani actress Sharmeen Ali has candidly shared her journey of becoming financially independent after her divorce, revealing how she rebuilt her life while taking full responsibility for herself and her daughter. Speaking during a recent television morning show, the actress reflected on the difficult phase that followed the end of her marriage and how it ultimately led her to pursue a career in the entertainment industry. Sharmeen explained that after her separation, she felt she had no choice but to become self-reliant. Having married at a young age, she said she was unable to complete her education, leaving her with limited opportunities when she had to start over. Recalling that period, the actress said she returned to live with her parents after the divorce but was determined not to become a financial burden on them. She shared that her parents were growing older, and she wanted to support herself instead of relying on them for her daily expenses. Driven by that determination, Sharmeen began exploring different ways to earn a living. Before entering showbiz, she worked on various creative projects, including clothing design, home décor, and other freelance services. She said those early efforts helped her regain confidence and provided a foundation for a new beginning. According to the actress, her life changed within just three months when she received an opportunity to work from producer Nina Kashif. The offer marked the beginning of her acting career and opened the door to Pakistan’s television industry. Sharmeen admitted that not everyone in her family was initially comfortable with her decision to join showbiz. She said her loved ones had reservations about the profession, but given her circumstances, financial independence was her top priority. She believed pursuing a career in acting was the best way to secure a stable future for herself and her daughter. Although her early days in the entertainment industry were not easy, Sharmeen said she received only a limited number of projects at first. However, she remained grateful for every opportunity that came her way. She explained that those initial roles were enough to keep her moving forward and gradually helped her establish herself in the industry. The actress also reflected on the emotional impact her marriage had on her confidence. Despite having studied abroad before getting married, she said the experiences she went through during her marriage affected her deeply. She recalled that she had once been an independent and confident young woman, but after the challenges she faced, it felt as though that confidence had disappeared. Sharmeen said rebuilding her self-belief became one of the biggest challenges of her life. She described the period after her divorce as starting from zero, requiring patience, resilience, and consistent effort. Through hard work and determination, she slowly regained her confidence and created a new path for herself. Today, the actress views her journey as a reminder that difficult circumstances can become an opportunity for personal growth. By choosing independence and refusing to give up despite financial and emotional hardships, Sharmeen Ali has built a successful career while providing for her family. She hopes her story encourages others facing similar challenges to believe in themselves, remain persistent, and never lose hope, even when life demands a fresh start.

  • |

    Ashley Callingbull calls out cultural appropriation at pageant

    ByJustpaste.in

    Ashley Callingbull has opened up about her decision to speak out during the Miss Universe Canada 2026 pageant, saying she felt a responsibility to use her platform to raise awareness about cultural appropriation and encourage greater accountability. The 36-year-old pageant contestant became involved in a controversy after contestants Karisa Haverkamp and Jasleen Kaily were photographed wearing outfits that featured prominent elements inspired by traditional Indigenous clothing. The images sparked criticism, with concerns being raised about the use of Indigenous cultural symbols in a pageant setting. Callingbull, who is known for representing and advocating for Indigenous communities, said the situation was deeply upsetting. She explained that seeing the outfits felt disrespectful and described the incident as “a slap in the face to the Indigenous community.” Rather than remaining silent, Callingbull decided to address the issue publicly during the live pageant. She found an unexpected opportunity when she and fellow host Sonny Borelli were preparing to announce the top 20 contestants. At that moment, the teleprompter stopped working, leaving the presenters without their prepared script. Instead of simply waiting for the technical problem to be resolved, Callingbull used the unscripted moment to speak directly to the audience. She delivered a brief but powerful message, saying, “It’s 2026, we should know better.” Her comments immediately drew attention because they came during a highly visible moment of the competition. Callingbull made it clear that she wanted to use the platform to encourage people to think more carefully about cultural representation and respect. Following the controversy, Miss Universe Canada responded to the criticism and stated that causing offense, hurt or misunderstanding was never the organization’s intention. The response came amid wider discussion about cultural sensitivity and the responsibility of public events to ensure that Indigenous traditions and symbols are treated respectfully. Callingbull has since received significant support from people who appreciated her decision to speak up. She said the response has reinforced her belief that public figures can play an important role in encouraging meaningful conversations. For Callingbull, the incident was about more than a pageant or a particular outfit. She believes it was an opportunity to highlight the importance of respecting Indigenous culture and challenging behavior that may be considered inappropriate or insensitive. She hopes the situation will encourage others to find the courage to speak out when they witness something they believe is wrong. By using an unexpected moment on stage to address the controversy, Callingbull showed that even an unscripted statement can draw attention to important social issues and encourage broader conversations about respect, representation and cultural awareness.

Leave a Reply

Your email address will not be published. Required fields are marked *