Friday, October 31 2025

PSX suffers deep losses, falls over 1,700 points
The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Thursday as the benchmark index extended its losing streak amid heightened volatility, subdued corporate earnings, and heavy rollover activity. The KSE-100 index lost over 1,730 points to settle a little above 156,730. Investor sentiment remained fragile throughout the session, with the market swinging widely before closing deep in the negative territory. Heavyweight stocks such as Engro, The Bank of Punjab (BOP), Systems Limited, United Bank, and MCB Bank dragged the index lower, reflecting investor caution over uncertain macroeconomic conditions and mixed earnings announcements. Despite the decline, overall participation stayed strong, indicating continued retail and institutional engagement even in a risk-averse environment. Brokerage houses noted that the latest slide mirrors the earlier correction phase seen at the start of the month, suggesting a technical pattern of price parity.
Related news categories: business economic-indicators psx stock-exchanges

SBP reserves inch up $16m to $14.47b
The State Bank of Pakistan's (SBP) foreign exchange reserves increased by $16 million during the week ended October 24, 2025, reaching $14.471 billion, the central bank reported on Thursday. According to the SBP, the country's total liquid foreign reserves stood at $19.687 billion, of which commercial banks held $5.216 billion in net reserves. Gold prices in Pakistan fell on Thursday, diverging from the international market, where the yellow metal gained nearly 2%, supported by a US Federal Reserve interest rate cut and persistent uncertainty over the China-US trade deal. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola declined by Rs1,000 to Rs418,862, while the rate for 10 grams dropped by Rs857 to Rs359,106. A day earlier, gold prices had surged by Rs3,500 per tola, closing at Rs419,862, following volatility in international bullion markets.
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Rs1.3bn worth of smuggled cigarette material seized in Lahore raid
Customs authorities seized smuggled cigarette paper, filters, packaging material and manufacturing raw material worth over Rs1.3 billion in a raid on a warehouse on the outskirts of Lahore on Thursday. The authorities have launched a large-scale crackdown on cigarette smugglers and tax evaders across Punjab. The latest raid comes two weeks after officials discovered a cache of cigarette-making material and machinery during inspection at a rice mill in the Daska Industrial Area. Investigations revealed that the illegal cigarette production was part of an extensive inter-provincial smuggling network operating under the guise of rice trading.
Related news categories: business economic-indicators misc tobacco

Reversal of 16% rental tax brings relief to retail sector
Speakers at a seminar said that the reversal of the 16% tax on rental properties in Punjab has provided major relief to the country's retail community and reflected the success of collective efforts by trade bodies. They emphasised that such reforms have helped stabilise retail operations and created breathing space for organised businesses struggling under economic pressure. They were addressing the 5th Pakistan Future of Retail Business Summit & Expo 2025 on Thursday, where leading figures from Pakistan's retail, e-commerce, and logistics industries gathered to discuss challenges, opportunities, and the future direction of the retail economy. Patron-in-chief of the Chainstore Association of Pakistan (CAP), Rana Tariq Mehboob, in his address, outlined CAP's key achievements in recent years and appreciated the collective strength shown by retail leaders across the country. He said the reversal of the 16% tax on rental properties was a milestone that relieved thousands of retail outlets from unnecessary financial burden.
Related news categories: business economic-indicators misc

Pakistan’s textile exports hit three-year high in September
Pakistan's textile exports surged to a three-year high of $1.6 billion in September 2025, marking a strong rebound driven by robust demand for value-added categories and renewed global orders, according to provisional data released by the State Bank of Pakistan (SBP). Brokerage house Topline Securities reported that knitted apparel exports alone touched an all-time high of $485 million, underscoring the strength of Pakistan's value-added segment. The textile sector accounted for nearly 60% of the country's total goods exports during the month, which reaffirmed its role as the backbone of Pakistan's export economy. The latest surge comes amid a gradual post-pandemic recovery, stronger trade linkages, and a relatively stable exchange rate. Yet, industry experts warn that persistent challenges such as high energy costs, expensive financing and cotton supply disruptions continue to weigh on long-term competitiveness.
Related news categories: business economic-indicators textile-composite textile-spinning textile-weaving