After a brief positive start, profit-taking returned to the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index shedding over 800 points during intra-day trading on Tuesday. At 10:25am, the benchmark index was hovering at 166,914.96, an increase of 837.44 points or 0.5%. Selling pressure was observed in key sectors including cement, commercial banks, fertiliser, oil and gas explor
Oil prices extended gains on Tuesday as a smaller-than-expected November output hike by OPEC+ helped to ease some fears of a growing supply glut. Brent crude futures advanced 23 cents, or 0.35%, to $65.70 a barrel by 0356 GMT. US West Texas Intermediate crude climbed 21 cents, or 0.34%, to $61.90. Both contracts settled more than 1% higher in the previous session after the Organization of
Bitcoin hit a new record high on Monday as the world’s largest cryptocurrency by market value continued to benefit from strong investor demand. The rally since the start of the year has been fueled by institutional investors, friendlier policies under U.S. President Donald Trump, and a bitcoin’s increasing connection with global financial systems. Bitcoin rose as high as $125,835.92 after cl
The Pakistani rupee saw a slight gain against the US dollar, appreciating 0.08% during Tuesday’s opening hours of trading in the inter-bank market. At 10am, the currency was hovering at 281.03, a gain of Re0.22 against the greenback. On Monday, the local unit closed at 281.25. Internationally, the Japanese yen weakened to a two-month low against the US dollar on Tuesday as attention in Ja
Hub Power Company Limited (HUBCO), Pakistan’s largest independent power producer (IPP), is exploring multiple options for its 1,100-acre base plant at Hub, including the establishment of an aluminium smelter and a Single Point Mooring (SPM) facility. Topline Securities, which attended the management meeting of HUBCO, shared the development in its report on Tuesday. During the meeting, HUBCO