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Express Tribune
3 days ago
- Business
- Express Tribune
Banking gains offset losses as PSX holds 147,000 level
The Pakistan Stock Exchange (PSX) closed marginally higher on Tuesday as it entered a consolidation phase, with the benchmark KSE-100 index gaining 75.48 points, or 0.05%, to settle at 147,005.32. Analysts noted that investors adopted a cautious stance amid mixed sentiment, selective buying, and profit-taking. Trading volumes recorded an uptick, supported by gains in banking stocks, while weakness in the fertiliser and energy sectors capped overall gains. Arif Habib Limited (AHL) Deputy Head of Trading Ali Najib said the KSE-100 index floated in both directions during the session before closing slightly positive, maintaining the key 147,000 level. 'Mixed sentiment was observed during trading hours, with investors opting for some switching and profit-taking,' he said. On the news front, Pakistan and US officials were finalising details of a trade deal, while Finance Minister Muhammad Aurangzeb hinted at major US investments across various sectors. Meanwhile, Barrick Mining sought $3.5 billion from global lenders, including US-backed institutions, for the development of the Reko Diq copper and gold project. Among individual movers, Bank Alfalah, HBL, Systems Limited, Meezan Bank and National Foods added 417 points to the index on buying interest. Conversely, Fauji Fertiliser Company, Mari Petroleum, Oil and Gas Development Company, Pakistan State Oil and Bank AL Habib collectively lost 527 points. 'Going forward, progress on circular debt resolution could further fuel upward momentum. That said, some consolidation or a mild correction remains possible. In case of a pullback, 145,000 is expected to serve as the first support, followed by 143,000, while 150,000 stands as the next key resistance,' Najib added. Overall, trading volumes rose to 691.7 million shares from Monday's 611.2 million, while the traded value increased to Rs44.6 billion from Rs44 billion in the previous session. Shares of 482 companies were traded. Of these, 208 closed higher, 242 declined and 32 remained unchanged. Yousuf Weaving Mills was the volume leader with 46.3 million shares, rising by Rs1 to close at Rs6.09.
Time of India
26-04-2025
- Time of India
Retired naval officer loses over Rs44.5 lakh in online share fraud
Pune: Online fraudsters cheated a retired naval officer (63) from Baner for Rs44.6 lakh between January 8 and March 11, promising him handsome returns on investment in online stocks. The victim submitted the complaint application last week. The Baner police registered an FIR of cheating and IT Act on Friday. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Senior inspector Chandrashekhar Sawant of the Baner police said, "The suspects contacted the retired officer on a messaging application after his cellphone number was added to a group on it. After reading their messages, the victim sent a message to the group admin. The frauds then told him to invest in shares for high profit. They sent a link of an online software for share-trading and told him to download it on his phone." Sawant said, "The suspects then guided him to trade shares online using the application, almost identical to the name of an Indian govt application. The glib talker suspects convinced the victim to share credentials of his application with them. Following this, the suspects took control of his application and cheated him," Sawant said.
