Monday, November 03 2025

PSX slips in October on economic, geopolitical uncertainty
The Pakistan Stock Exchange (PSX) reversed course in October, with the KSE-100 index falling 2.33 per cent for the month, marking its first negative close since February. Market analysts attributed the decline primarily to profit-taking by insurance companies and mutual funds after an extended rally. Weak corporate earnings in the September quarter further weighed on investor sentiment, signalling a cautious near-term outlook. According to Topline Securities Ltd, investor participation increased on a month-on-month (MoM) basis, with average daily traded volume rising 90 per cent to 1.4bn shares and average daily value climbing 25pc to Rs52.7bn. Despite higher trading activity, net buying was largely from companies, totalling $9.2m, while mutual funds were the major sellers, offloading $15m during the period.
Related news categories: business economic-indicators psx stock-exchanges

All that glitters is an investment opportunity
Traders and experts in Pakistan see little chance of stability in the gold market — which has witnessed sharp volatility amid an overall rising price trend — anytime soon. They attribute the price swings to a rare mix of global and local factors; fluctuations in international gold prices, escalating armed conflicts that threaten to widen war zones, US tariff pressures under President Trump, dollar volatility, geopolitical tensions, and abrupt shifts in domestic economic policies. Ultimately, market decisions rest with individual investors, as projections for Pakistan’s gold sector are shaped by traders/experts’ intuition rather than fact-based evidence. Comprehensive data on the country’s gold market remains unavailable, though, various institutions hold partial information on financial transactions and the inward and outward movements of precious metals in this largely self-regulated, informal sector.
Related news categories: business economic-indicators misc

Bank profits rise despite weak private credit demand
Banks continued to post strong profits in the third quarter of calendar year 2025, remaining the only sector with steady, low-risk earnings driven largely by government borrowing. According to a report by Topline Securities issued on Friday, listed banks recorded a combined profit of Rs170bn in 3Q2025, reflecting an increase of 8pc year-on-year (YoY) and 2pc quarter-on-quarter (QoQ). The banking sector’s assets have been expanding faster than any other industry in the country, yet lending to the private sector has dropped to its lowest level. Nearly four months into the current fiscal year, net private-sector credit off-take remains negligible.
Related news categories: business comm-banks economic-indicators misc

Gold’s surge erodes dollar’s shine
The relentless surge in global gold prices has weakened confidence in the US dollar, long considered the world’s safest reserve currency, with analysts warning that the greenback’s dominance in the international financial system is facing its strongest challenge in decades. Over the past year, gold prices have climbed sharply from $2,700 per ounce in October 2024 to $3,997 per ounce on Oct 31 after briefly touching $4,300 earlier in the month. The rise means buyers now need about $1,300 more per ounce than a year ago — a shift that analysts say has effectively devalued the US dollar by nearly 48 per cent against gold. While the dollar remains central to global trade and reserves, growing scepticism among central banks and investors has led to a historic accumulation of gold holdings. “Central banks are the new miners,” said Faisal Mamsa, CEO of Tresmark, a currency tracking and research firm.
Related news categories: business economic-indicators misc

Tax net expands with 892,000 new filers
Prime Minister Shehbaz Sharif has linked the filing of 892,419 new tax returns for the tax year 2025 to rising public confidence in the government’s reform agenda. The premier’s remarks followed the Federal Board of Revenue’s announcement that the tax department received 5.912 million tax returns for tax year 2025, up from 5.025m returns in tax year 2024, marking a 17.65 per cent increase. The last date for filing the tax returns was Oct 31. An official announcement issued by the Prime Minister’s Secretariat has commended the FBR for achieving a historic milestone. He expressed deep gratitude to the public for demonstrating civic responsibility and trust in the government’s economic policies. Highlighting the inclusion of new filers into the tax net, Prime Minister Shehbaz said this surge reflects growing public confidence in the government’s reform agenda. “We are sincerely thankful to the people for their support,” he stated.
Related news categories: business economic-indicators misc