Thursday, April 23 2026

Selling persists at bourse, KSE-100 down over 900 points in early trade
Selling pressure continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 900 points during the opening minutes of trading on Thursday. At 10:14am, the benchmark index was hovering at 170,636.86, down by 942.44 points or 0.55%. Selling pressure was observed in key sectors, including automobile assemblers, cement, fertiliser, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, SNGPL, FFC, MCB and UBL, traded in the red. On Wednesday, investor sentiment remained bearish at the PSX, as uncertainty surrounding ongoing US-Iran negotiations weighed on market confidence amid heightened geopolitical tensions and lack of clarity over a potential breakthrough. The benchmark KSE-100 Index declined by 1,576.48 points, or 0.91%, to close at 171,579.31.
Related news categories: business economic-indicators psx stock-exchanges

Sitara Petroleum launches IPO to raise up to Rs4.8bn
Sitara Petroleum Service Limited (SPSL), a Lahore-based fuel trader, has announced its Initial Public Offering (IPO), seeking to raise up to Rs4.8 billion (USD17.2 million) to finance expansion in its fuel retail network, logistics operations and storage infrastructure, according to its IPO prospectus. As per details, the company, engaged in distribution and retail, along with petroleum logistics, is offering a total of 279.9 million ordinary shares, representing 16.66% of its post-IPO paid-up capital. Of these, 168 million shares are being offered to the public, while 111.9 million shares have already been placed through a pre-IPO transaction. The book building process is scheduled for May 4–5, followed by public subscription on May 11–12.
Related news categories: business economic-indicators investment-copr psx stock-exchanges

Asian shares track Wall Street to record highs but higher oil prices a risk
Asian shares tracked Wall Street higher on Thursday, led by record highs in Japan, South Korea ‌and Taiwan, as investors shrugged off higher oil prices from more shipping woes in the Gulf and focused on strong corporate earnings. Overnight, the S&P 500 climbed 1% and the Nasdaq jumped 1.6% to close at new record highs, helped by a strong start to earnings ​season that has eased concerns about the health of the U.S. consumer despite rising energy prices from ​the Iran war. That was despite oil prices gaining for a fourth straight day. Iran on ⁠Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the ​crucial waterway, as a fragile ceasefire hangs in the balance for now.
Related news categories: business economic-indicators psx stock-exchanges

PTA takes action against digital content involving illegal therapeutic goods sale
The Pakistan Telecommunication Authority (PTA) came in action against illegal sale of therapeutic goods via websites and social media pages and got the content removed, according to a press statement issued by the authority on Wednesday. The therapeutic goods may be including medicines, medical devices, and vaccines, it was learnt. PTA said in the statement that it initiated action against websites and social media pages that were involved in sale of unauthorised and unregistered therapeutic goods upon receiving a request from the Drug Regulatory Authority of Pakistan (DRAP). “PTA undertook necessary enforcement measures to restrict access to the identified content. The concerned websites have confirmed removal of the illegal products, while the matter is being actively pursued with social media platforms for early takedown of reported pages and groups,” the statement read.
Related news categories: business economic-indicators misc

Dollar holds near 1-1/2-week high as Iran-US standoff persists
The ​dollar wobbled near a 1-1/2-week high on Thursday as a standoff between Iran and the U.S. ‌in the Middle East war and lack of progress in peace talks pulled oil prices back above $100 per barrel, weighing on investor sentiment. Tehran seized two ships in the Strait of Hormuz on Wednesday, escalating tensions after U.S. President Donald Trump extended a ​ceasefire with Iran indefinitely with no sign of peace talks restarting. The two sides now remain ​divided on a ceasefire, blockade, nuclear issues and control of the strait, leaving the strategic waterway still effectively shut and ⁠triggering an energy shock in a blow to economies across the world.
Related news categories: business economic-indicators misc