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Express Tribune
14-05-2025
- Business
- Express Tribune
PSX inches closer to record high
Foreign funds would divert their liquidity into buying Pakistan's stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE Listen to article The Pakistan Stock Exchange (PSX) followed through on the previous day's record surge with notable gains on Tuesday, buoyed by investor optimism over the easing of war fears between Pakistan and India and assurances from the finance minister about the limited fiscal fallout from the geopolitical tensions. The KSE-100 index soared to an impressive intra-day high of 2,769 points, nearing its all-time high of 120,796, before settling with an increase of 1,278 points, or 1.09%, at 118,576. The recent approval of $2.4 billion in loans by the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) as well as a rally in crude oil prices and upbeat global equities lifted investor sentiment in the local market. Institutional buying, especially by the local mutual funds, and strong participation across key sectors propelled the benchmark index closer to the all-time high. Trading activity remained robust as 684 million shares were traded while the traded value came in at Rs53 billion – the highest in five months. Ahsan Mehanti of Arif Habib Corp stated that stocks closed higher as investors weighed ceasefire talks between Pakistan and India, which resulted in stability, and the finance minister's assurance of a minimal fiscal impact from the conflict. Rupee stability due to the easing of geopolitical tensions and the IMF loan approval, alongside upbeat global equities and a surge in crude oil prices, played the role of catalysts in bullish close at the PSX, added Mehanti. At the end of trading, the benchmark KSE-100 index recorded an increase of 1,278.16 points, or 1.09%, and settled at 118,575.89. In its market review, Topline Securities commented that the bullish momentum from the previous session was carried forward, fuelled by robust institutional buying, particularly from the local mutual funds. This positive sentiment propelled the benchmark index to an impressive intra-day high of 2,769 points, closing at a remarkable 118,576 with an increase of 1,278 points. Key drivers of the rally were heavyweight stocks such as Pakistan Petroleum, Oil and Gas Development Company, Lucky Cement, Pakistan State Oil (PSO) and Mari Petroleum, which contributed 1,177 points to the KSE-100 index, added Topline. In its commentary, Arif Habib Limited (AHL) stated that Monday's follow-through gains touched 120,000 points before coming off, but it still managed to advance 1.09% day-on-day. Some 51 shares rose while 45 fell, with Pakistan Petroleum (+10%), Oil and Gas Development Company (+7.71%) and Lucky Cement (+3.97%) contributing the most to index gains. On the flipside, Bank AL Habib (-2.58%), MCB Bank (-2.27%) and UBL (-1.23%) were the biggest index drags, noted AHL. It added that Lucky Core Industries had announced a 5:1 stock split. Moreover, the government was offering relief to industries and salaried individuals by reducing the super tax in the upcoming federal budget for 2025-26. "The key level to watch for sustainability is 120,000 points, while 113-115,000 points is a zone on watch as potential support," it commented. JS Global analyst Muhammad Hasan Ather remarked that the KSE-100 index surged 2.4% in intra-day trading, continuing its three-session rally and nearing the all-time high of 120,796. The bullish sentiment followed signs of de-escalation in India-Pakistan tensions, which previously weighed on the market. Additionally, the IMF's financial support, including a fresh $1.4 billion under the Resilience and Sustainability Facility, boosted investor confidence, he said. Going forward, stability in geopolitical conditions and continued structural reforms would be the key to sustaining the momentum, with traders eyeing a break above record levels, noted Ather. Overall trading volumes decreased to 684.3 million shares compared with Monday's tally of 732.9 million. Shares of 462 companies were traded. Of these, 221 stocks closed higher, 194 fell and 47 remained unchanged. WorldCall Telecom was the volume leader with trading in 41.7 million shares, falling Rs0.06 to close at Rs1.26. It was followed by Maple Leaf Cement with 41.1 million shares, gaining Rs6.27 to close at Rs75.92 and Sui Southern Gas Company with 35.8 million shares, gaining Rs2.33 to close at Rs32.79. During the day, foreign investors bought shares worth Rs386.8 million, the National Clearing Company reported.
Business Standard
08-05-2025
- Lifestyle
- Business Standard
1 Court by Aspire Construction: A Lifestyle-Ready Residential Community That Has It All
SMPL New Delhi [India], May 8: In a transformative move for Nagar's residential landscape, Aspire Construction has announced 1 Court, a pioneering gated community that blends wellness, security, and lifestyle into one holistic living experience. Currently under construction, this landmark project introduces an elevated standard of urban housing to a Tier-II city--where thoughtful design meets everyday convenience for families of all generations. Where Wellness Meets Everyday Living In today's fast-changing world, where hybrid work, holistic wellness, and family-centric living are top priorities, 1 Court emerges as a thoughtfully crafted response. "We're not just constructing apartments--we're shaping the future of how families live and thrive," says Mr. Manas Vanwari, Founder & Director of Aspire Construction. "At 1 Court, we've created a setting where work, wellness, and family all come together. It truly has it all." A Lifestyle for Every Generation Located in a secure, gated community near Savedi and Pipeline Road, 1 Court offers spacious 2 and 3 BHK homes starting at Rs53 Lakhs. Each detail--from layout to lifestyle--is tailored to support every age group: * Mini Theatre, Kids' Play Area, and Turf for younger residents * Mini Golf and Senior Citizen Corners for leisure and relaxation * A Business Center that enables professionals to work efficiently without leaving home Whether you're nurturing a growing child, staying active as a young adult, managing work-life balance, or embracing serene retirement years--1 Court meets the needs of every stage of life. Designed With Wellness and Security in Mind Every element at 1 Court contributes to your family's well-being and safety. From jogging tracks and green open spaces to video door cameras, gas leak detectors, and round-the-clock security, this gated community ensures peace of mind that stand-alone buildings or tenements simply can't match. Built for the New Indian Homeowner Sophisticated interiors, premium finishes, generator backup for common areas, and features like EV charging stations underscore 1 Court's commitment to quality and convenience. A Trusted Name in Development With MahaRERA approval and transparent processes, Aspire Construction assures buyers of on-time delivery and legal clarity. Mr. Manas Vanwari and his team continue their mission to craft vibrant communities that go beyond brick and mortar. Limited Units, Limitless Lifestyle As demand grows among families across Nagar, 1 Court invites homebuyers to invest not just in a home--but in a lifestyle that has it all. For more information, please visit our Instagram page or contact: +918355884543 (ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
India Gazette
08-05-2025
- Lifestyle
- India Gazette
1 Court by Aspire Construction: A Lifestyle-Ready Residential Community That Has It All
SMPL New Delhi [India], May 8: In a transformative move for Nagar's residential landscape, Aspire Construction has announced 1 Court, a pioneering gated community that blends wellness, security, and lifestyle into one holistic living experience. Currently under construction, this landmark project introduces an elevated standard of urban housing to a Tier-II city--where thoughtful design meets everyday convenience for families of all generations. Where Wellness Meets Everyday Living In today's fast-changing world, where hybrid work, holistic wellness, and family-centric living are top priorities, 1 Court emerges as a thoughtfully crafted response. 'We're not just constructing apartments--we're shaping the future of how families live and thrive,' says Mr. Manas Vanwari, Founder & Director of Aspire Construction. 'At 1 Court, we've created a setting where work, wellness, and family all come together. It truly has it all.' A Lifestyle for Every Generation Located in a secure, gated community near Savedi and Pipeline Road, 1 Court offers spacious 2 and 3 BHK homes starting at Rs53 Lakhs. Each detail--from layout to lifestyle--is tailored to support every age group: * Mini Theatre, Kids' Play Area, and Turf for younger residents * Mini Golf and Senior Citizen Corners for leisure and relaxation * A Business Center that enables professionals to work efficiently without leaving home Whether you're nurturing a growing child, staying active as a young adult, managing work-life balance, or embracing serene retirement years--1 Court meets the needs of every stage of life. Designed With Wellness and Security in Mind Every element at 1 Court contributes to your family's well-being and safety. From jogging tracks and green open spaces to video door cameras, gas leak detectors, and round-the-clock security, this gated community ensures peace of mind that stand-alone buildings or tenements simply can't match. Built for the New Indian Homeowner Sophisticated interiors, premium finishes, generator backup for common areas, and features like EV charging stations underscore 1 Court's commitment to quality and convenience. A Trusted Name in Development With MahaRERA approval and transparent processes, Aspire Construction assures buyers of on-time delivery and legal clarity. Mr. Manas Vanwari and his team continue their mission to craft vibrant communities that go beyond brick and mortar. Limited Units, Limitless Lifestyle As demand grows among families across Nagar, 1 Court invites homebuyers to invest not just in a home--but in a lifestyle that has it all. For more information, please visit our Instagram page or contact: +918355884543 (ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
Express Tribune
26-02-2025
- Business
- Express Tribune
CDA invites PAC's ire over illegal auctions
A shocking revelation emerged in the Public Accounts Committee (PAC) meeting regarding the illegal auction of 23 plots worth Rs37 billion. Committee member Qasim Noon criticised the Capital Development Authority (CDA), calling it "the most corrupt institution" with corruption ongoing for years without any accountability. The PAC also ordered a complete audit of the Gun and Country Club. During the meeting, CDA's Member Finance admitted that they had not prepared the financial statements, stating that the 2023-2024 financial statement was ready and would be submitted soon. Member Committee Syed Hussain Tariq expressed concerns, saying, "This is not the proper way." The CDA Chairman assured that future statements would be prepared on time, while the Interior Secretary promised to prevent such issues in the future. Committee member Naveed Qamar raised concerns, emphasising that someone should be held accountable, and suggested that the audit should look into this matter. Audit officials informed that CDA's operations are complex. The Interior Secretary requested two months to resolve the issues, but the CDA Chairman stated that it would take six months to prepare the financial statements. The PAC Chairman agreed, instructing the CDA to submit all financial statements within six months. Qasim Noon reiterated his criticism, describing CDA as the "most corrupt institution" with no one holding them accountable for years. The committee instructed that the issue of the non-transparent auction be referred to the DAC. The PAC also reviewed an audit objection regarding the Gun and Country Club's failure to deposit an additional Rs480 million into the Sports Endowment Fund account. Committee member Hussain Tariq, commented that the institution had never conducted a proper audit. "They were never willing to conduct an audit. How much money did they make and spend over five years?" The PAC Chairman ordered a complete audit of the Gun and Country Club and instructed that a report be submitted within a month. The PAC also discussed audit objections related to the G-B Scouts, particularly the irregular purchase of medical supplies worth over Rs53 million. The committee expressed frustration over the absence of the Director General (DG) and deferred the discussion until his presence. The DG of the Sindh Rangers also failed to attend, prompting the PAC to defer the audit of Sindh Rangers. Regarding the absence of the IG FC in the PAC meeting, the PAC was informed that the IG was engaged in operations due to deteriorating security conditions in the province. This sparked an exchange of remarks among committee members. Rana Qasim pointed out, "The country is in a state of war," while Naveed Qamar humorously suggested, "If the country is at war, should we dissolve the PAC?" Finally, the PAC instructed that all audit paras related to the FC be consolidated and directed recovery actions to be taken.
