Share prices at Pakistan Stock Exchange (PSX) bounced back heavily on Friday after days of hammering as the situation at the borders remained calm amid heightened tensions between Pakistan and India, reported 24NewsHD TV channel. In early trading on Friday, the PSX’s benchmark KSE-100 index soared by 2,870.48 points or 2.
Cat sole survivor of 115-meter fall in US canyonShare prices at Pakistan Stock Exchange bounced back heavily on Friday after days of hammering as the situation at the borders remained calm amid heightened tensions between Pakistan and India, reported 24NewsHD TV channel.
In early trading on Friday, the PSX’s benchmark KSE-100 index soared by 2,870.48 points or 2.51 percent to reach at 114,197.05 points. Analysts said that investors fully showed their optimism that State Bank of Pakistan will announce another cut in interest rate after Monetary Policy Committee meeting on May 5, 2025 and International Monetary Fund Board will approve second loan tranche to Pakistan during its meeting. Of the total 387 companies traded so far, share prices of 331 companies went up, of 47 companies went down while nine remained unchanged. Earlier on Wednesday, PSX KSE-100 Index had closed at 111,326.57 points, plunging by 3,545.61 points or 3.09% from the previous close of 114,872.18. Investor sentiment was rocked after Information Minister Attaullah Tarar, in a televised statement, said Pakistan had credible intelligence that India was planning “nefarious actions” and would use the recent Pahalgam attack in Indian Illegally Occupied Jammu and Kashmir as a false pretext."Any act of aggression will be met with a decisive response," he warned. Meanwhile, on the economic front, the State Bank of Pakistan revealed that it had purchased $5.677 billion from the interbank market between June 2024 and January 2025 to bolster reserves. In January alone, the SBP bought $154 million, down from $536 million a month earlier, aided by a favourable current account position. In corporate news, Pakistan Petroleum Limited reported a 25% year-on-year drop in net profit for the nine months ending March 2025, posting earnings of Rs72.7 billion. Quarterly profit declined 21% YoY to Rs21.8 billion, while net sales fell 15% YoY. A dividend of Rs1 per share was announced for the third quarter, bringing cumulative payouts to Rs5 per share for 9MFY25.A woman with the help of her daughter brutally killed her husband by attacking him repeatedly with clubs in Arifwala, reported 24NewsHD TV channel on ...
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