Friday, November 06 2026

PSX: selling engulfs bourse, KSE-100 sheds over 2,200 points
After days of buying momentum, selling returned at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 2,200 points during the opening minutes of trading on Friday. At 9:40am, the benchmark index was hovering at 173,146.07, down 2,233.79 points or 1.27%. “We expect the market to witness some profit-taking today following the recent rally, as investors may prefer to book gains ahead of the long weekend,” said Ismail Iqbal Securities in a post.
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PSX extends rally for second session, reclaims 175,000 mark
The Pakistan Stock Exchange (PSX) extended its bullish run on Thursday, with the benchmark KSE-100 Index surging over 3,365 points, or around 2%, to close at 175,380, reclaiming the 175,000 psychological barrier for the first time since September 1, as a sharp decline in international oil prices improved investor sentiment and triggered broad-based buying. The market opened on a positive note, buoyed by a sharp correction in international oil prices following the Democrats' sweeping gains in the US midterm elections. WTI crude declined below USD 87/bbl, while Brent fell to USD 96/bbl from the previous session's USD 102/bbl, marking a decline of over 8%, said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
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PM Shehbaz orders cancellation of petrol pump licences over denial of fuel subsidies
Prime Minister Shehbaz Sharif on Thursday ordered the cancellation of licences of petrol pumps refusing to provide subsidised fuel to registered beneficiaries under the Prime Minister's Fuel Relief Programme, warning of strict action against outlets denying the facility to eligible citizens. The directive was issued during a high-level meeting chaired by the premier at the Prime Minister's Office (PMO) in Islamabad to review progress on the subsidy programme and assess its implementation across the country.
Related news categories: business economic-indicators oilgas-marketing

IMF country head urges Pakistan to broaden tax base, pursue growth-oriented reforms
The International Monetary Fund (IMF) on Thursday called for a broader, simpler, fairer and more predictable taxation system in the country to generate resources for human capital development, infrastructure and investment, saying this would help raise Pakistan’s potential gross domestic product (GDP) and improve living standards. Speaking at a session titled “Where Reforms Matter the Most for Growth?” at the Sustainable Development Policy Institute's (SDPI) 29th Sustainable Development Conference, organised by the Ministry of Finance, the IMF's Pakistan representative, Dr Mahir Binici, praised the country’s efforts to maintain economic stability amid recent global and domestic challenges, but stressed the need for deeper and broader reforms to put the economy on a sustainable growth path.
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Petrol price slashed by Rs9.41, HSD’s by Rs5.56
The price of petrol has been reduced by Rs9.41 per litre, bringing the retail price down to Rs352.59 per litre. High-Speed Diesel (HSD) saw a cut of Rs5.56 per litre, fixing its new rate at Rs382.25 per litre, down from the previous Rs387.81 per litre, effective for November 6. The regulator attributed these adjustments to global developments alongside changes in Platts pricing, premiums, and incidental costs. International benchmark prices of petrol decreased to USD 105.945 per bbl from USD 111.45 per barrel, however, premium including freight remained as high as USD 25.52 per bbl, while HSD benchmark prices decreased to USD 106.90 per barrel from USD 110.08 per bbl.
Related news categories: business economic-indicators oilgas-marketing