Category: bussines

The capital market witnessed a turbulent session on Friday, marked by fluctuations as investor caution dominated trading activity. Lingering concerns over global economic trends, persistent year-end profit-taking, and uncertainty surrounding recent policy measures overshadowed improved macroeconomic indicators that continue to strengthen long-term market confidence. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index began the day on a positive note, climbing 1,232.73 points, or 1.16%, to hit an intraday high of 107,507.69. However, heightened profit-taking pressure and cautious sentiment reversed early gains, dragging the index to an intraday low of 105,772.84.…

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The US Federal Reserve reduced interest rates on Wednesday, with Chair Jerome Powell stating that further reductions will depend on progress in curbing persistently high inflation. Powell’s explicit – and repeated – references to the need for caution from here jolted Wall Street, sending stocks sharply lower and spurring a dialing back of market estimates of how far borrowing costs are likely to fall over the coming year. “I think we’re in a good place, but I think from here it’s a new phase and we’re going to be cautious…

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State Bank of Pakistan Governor Jameel Ahmed said on Monday that the inflation would stay low for the next three to four months due to some reasons including “end of base effect and some other things in pipeline”. Ahmed’s statement came after the central bank slashed the key policy rate by 200 basis points (bps) to 13%, marking its fifth consecutive cut as inflation continues to drop. Ahmed, speaking on Geo News programme “Aaj Shahzeb Khanzada Kay Saath”, said that the central bank will have to closely monitor a factor of concern…

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The stock market experienced a mixed trend on Tuesday surpassing the 117,000-point mark for the first time during intraday trading but saw fluctuations due to profit-taking by investors. The session observed a bullish note, with strong investor sentiment pushing the market higher following the State Bank of Pakistan’s (SBP) policy rate cut. However, the upward momentum was tempered as traders opted to book profits, reflecting a natural correction after the strong rally seen over the past few sessions. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index gained 869.76 points, or…

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The stock market continued its unprecedented rally on Friday, crossing the 115,000 points mark for the first time ever, fueled by positive macroeconomic indicators, strong investor sentiment, and expectations of significant monetary easing. Declining inflation, surging remittance inflows, and ongoing government reforms have further strengthened market sentiment, underscoring growing optimism about Pakistan’s economic prospects. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged by 991.94 points, or 0.87%, to reach an intraday high of 115,172.44, following Thursday’s historic session where the market posted its highest-ever close. Pakistan’s foreign reserves remain…

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Apple has begun integrating OpenAI’s ChatGPT into its devices with the latest iOS update, marking the arrival of a highly anticipated feature that investors hope will boost sales of the new iPhones, Reuters reported. This addition is part of a broader rollout of AI-powered tools across Apple’s operating systems for iPhones, iPads, and Macs. The ChatGPT integration, first announced in June as part of the “Apple Intelligence” initiative, enables Siri to leverage the chatbot’s capabilities. Users can now ask Siri to assist with tasks like analyzing photos and documents, such as presentations.…

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The capital market soared to a historic milestone on Thursday, with the KSE-100 Index surging past the unprecedented 113,000-point mark for the first time ever Buoyed by positive macroeconomic indicators, rising investor optimism, and expectations of substantial monetary easing the index rocketed to heights. The Pakistan Stock Exchange’s (PSX) benchmark index surged by 2,381.21 points, or 2.15%, to hit an intraday high of 113,191.42, marking another milestone in the market’s ongoing rally. “Liquidity is a very important factor for the stock market. With successive rate cuts, investors have shifted from…

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