Friday, February 06 2026

Banks power PSX rally despite volatility
Bullish momentum continued to dominate trading at the Pakistan Stock Exchange (PSX) on Wednesday, where the benchmark KSE-100 index advanced a further 931 points, despite some volatility. Banking and other heavyweight financial stocks set the tone in early dealings as institutional buying in key names helped overcome the initial hesitation. Market participants pointed to improved risk appetite, with banking, fertiliser and select blue-chip sectors contributing significantly to the positive trend. There was volatility too as investors digested mixed macro signals and global cues. Despite that, bulls held firm control, lifting the KSE-100 index above 187,000. At close, the index recorded a gain of 931.34 points, or 0.50%, to settle at 187,832.08. During the day, the bourse hit intra-day high of 188,312 and low of 187,019.
Related news categories: business economic-indicators psx stock-exchanges

Kazakh firm plans $20m gold mining in G-B
Kazakh company has expressed its intention to invest $20 million in placer gold mining projects in Gilgit-Baltistan (G-B), as discussions were held with the Board of Investment (BoI) on opportunities in Pakistan's mining sector, particularly in the northern region. According to an official statement issued on Thursday, Federal Minister for the Board of Investment Qaiser Ahmed Sheikh held a meeting with a delegation of Elaman Group from the Republic of Kazakhstan to discuss potential investment in placer gold mining in G-B. During the meeting, the delegation informed the minister that Elaman Group planned to immediately invest $20 million in placer gold mining projects in the region, with prospects of further investment in subsequent phases. The group said it had already conducted preliminary studies of G-B and identified strong potential for placer gold exploration and development.
Related news categories: business economic-indicators misc

Customs warns KICT of legal action
Pakistan Customs has warned the management of Karachi International Container Terminal (KICT) of possible contempt of court proceedings and legal action over escalating operational disruptions that are delaying customs clearance, hampering trade activity, and affecting overall port performance. In a letter issued by the Customs Appraisement West Collectorate to the KICT CEO, officials said operational bottlenecks at the terminal had intensified despite repeated written notices and daily verbal and telephonic coordination. Customs authorities reported persistent delays in container grounding, examination processes, and freight clearance over the past several months.
Related news categories: business economic-indicators misc

Salaried class paid Rs315b in Jul-Jan
Income tax contributions by Pakistan's cornered salaried class further jumped by 10% to Rs315 billion during the first seven months of this fiscal year, as one out of every three Pakistanis who left the country last year in search of jobs and better salaries were skilled to highly qualified people. According to provisional data compiled by the Federal Board of Revenue (FBR), salaried individuals paid Rs315 billion in income tax during the July-January period of the current fiscal year. This was Rs30 billion, or 10.5%, more than the already higher base of Rs285 billion recorded in the same period of the last fiscal year. Tax contributions by salaried persons in both the public and private sectors remained more than double the taxes paid by the real estate sector during the same period, according to provisional figures.
Related news categories: business economic-indicators misc

Stocks tumble as AI rout deepens, cryptos rebound
Global equities extended losses into a third day on Friday as a selloff on Wall Street intensified, with precious metals and cryptocurrencies gripped by wrenching volatility. MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1% to mark a second day of losses, led by a 5% dive for South Korea’s Kospi which triggered a brief trading halt shortly after the open. S&P 500 e-mini futures slid 0.2% and Nasdaq e-mini futures fell 0.4%. “Investors are questioning their commitment to the pillars that have underpinned markets over the past six months: AI, crypto, and precious metals,” said Tony Sycamore, market analyst at IG in Sydney.
Related news categories: business misc stock-exchanges