Tuesday, May 05 2026

Shares slide, oil prices elevated as US-Iran truce prospects dim
Stocks in Asia slid on Tuesday while oil prices eased but remained well above $100 a barrel, as the U.S. and Iran continue to work towards a truce while at the same ​time trading blows over the Strait of Hormuz. Traders also had their eyes on the yen after the Japanese currency briefly jumped in the ‌previous session, stoking speculation of another round of intervention from Tokyo. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in Australia fell 0.4% in thinned Asia trade, while markets in Japan and South Korea were closed for a holiday.
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Pakistan’s trade deficit tops $4bn in April 2026
Pakistan’s trade deficit crossed $4 billion in April 2026, the highest in 46 months, amid an increase in imports, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday. The country’s trade deficit stood at $4.07 billion in April, up nearly 4% against $3.92 billion recorded in the same period the previous year. Pakistan’s exports clocked in at $2.48 billion in April 2026, registering an increase of 14% as compared to $2.17 billion in April 2025. Pakistan’s trade deficit rises 23% to $28bn in July-March On the other hand, imports stood at $6.55 billion in April 2026, up 7.5% against $6.1 billion recorded in the same period the previous year. On a monthly basis, Pakistan’s trade deficit jumped 43.5% against $2.84 billion recorded in March 2026. The significant increase came on the back of an over 28% increase in imports on a monthly basis, while exports grew by just 9.5%. Meanwhile, Pakistan’s trade deficit significantly increased by 20.3% to $31.98 billion in the first ten months of the current fiscal year (10MFY26), as compared to a deficit of $26.59 billion in July-April of the previous fiscal year (10MFY25).
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April cement despatches increase by 11.14pc YoY
Cement despatches during the month of April 2026 were registered at 3.890 million tons against 3.500 million tons despatched during the same month of the last fiscal showing an increase of 11.14 percent. Data released by All Pakistan Cement Manufacturers Association (APCMA) on Monday shows local cement despatches by the industry during the month of Apr-26 were 3.217 million tons compared to 2.677 million tons in Apr-25, showing an increase of 20.17pc. Exports despatches on the contrary, declined by massive 18.22pc as the volumes reduced from 823,032 tons in Apr-25 to just 673,058 tons in Apr-26.
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Sitara Petroleum IPO hits Rs18.90 cap price within 10 minutes
The initial public offering (IPO) of Sitara Petroleum Service Limited witnessed an overwhelming investor response as its book-building process hit the cap price of Rs18.90 within just 10 minutes of opening, setting a new record at the Pakistan Stock Exchange. The issue was fully subscribed in record time, reflecting strong demand from institutional investors and high-net-worth individuals at the upper end of the price band. Market participants said the swift price discovery at the cap level signals robust investor confidence in the company’s business model, particularly its scalable fuel station operations and expanding logistics and fleet network supporting Pakistan’s oil marketing sector.
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9MFY26 results: Supernet reports Rs5.72bn topline revenue
Supernet Technologies Limited (STL) has announced its first financial results following merger with Supernet Limited (SNL), for the nine months ended March 31, 2026, delivering a strong performance. The company reported a topline revenue of Rs 5.72 billion on a consolidated basis, which translated into a gross profit of Rs 1.38 billion and operating profit of Rs 604 million. Profit before taxation for STL and its subsidiaries stood at Rs 483 million, while profit after tax reached Rs 334 million, resulting in earnings per share (EPS) of Rs 2.89. These results are not comparable with the prior period, which include the impact of operations of SNL from the effective date of merger (i.e., January 01, 2025).
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