Friday, January 02 2026

Records tumble: KSE-100 crosses 178,000 level in early trade
There was no stopping the bulls at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index etching new records, hitting the 178,000 level for the first time during the opening hours of trading on Friday. At 11:05am, the benchmark index was hovering at 178,715.38, an increase of 2,359.89 points or 1.34%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, fertilisers, oil and gas exploration companies, OMCs, power generation, and refineries. Index-heavy stocks, including HUBCO, ARL, MARI, OGDC, PPL, POL, PSO, HBL, NBP and UBL, traded in the green.
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Forex reserves stand at $21.012bn
Pakistan’s total liquid foreign exchange reserves stood at USD 21.012 billion as of December 26, 2025, showing a marginal decline from USD 21.023 billion recorded a week earlier on December 19, according to statistic released by the State Bank of Pakistan (SBP). The reserves position reflected a mixed trend during the week. Foreign exchange reserves held by the SBP rose by USD 13 million to USD 15.915 billion, compared with USD 15.902 billion in the previous week. In contrast, net foreign reserves held by commercial banks fell to USD 5.097 billion from USD 5.120 billion. Overall, the slight dip in total reserves was largely due to the drawdown in commercial bank holdings, even as the central bank posted a modest increase in its foreign exchange buffers during the week under review.
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PTCL Group injects Rs15bn capital into U Bank
Pakistan Telecommunication Company Limited (PTCL), the parent company of U Microfinance Bank Limited (U Bank), has approved a capital injection of Rs 15 billion (approximately USD53 million) into the Bank, one of the largest equity injection transactions in the industry. The capital injection is intended to support U Bank’s sustained growth trajectory and the development of its digital banking platform, enabling enhanced customer outreach and service delivery. Hatem Bamatraf, Chairman of U Microfinance Bank and Group Chief Executive Officer, PTCL Group, reaffirmed PTCL Group’s commitment to initiatives that promote financial inclusion, innovation, and socioeconomic development across Pakistan. He noted that the capital injection reflects the Group’s confidence in U Bank’s digital transformation strategy and its potential to strengthen the microfinance banking ecosystem.
Related news categories: business economic-indicators psx stock-exchanges tech-comm
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Precious metals kick off the New Year higher after a robust 2025 rally
Precious metals kick-started the New Year on a strong note on Friday, resuming their rally after unprecedented gains in 2025, as geopolitical tensions and hopes of lower interest rates this year kept safe-haven demand intact. Spot gold climbed 1.3% to $4,372.02 per ounce as of 0357 GMT, after hitting a record high of $4,549.71 on December 26. It fell to a two-week low on Wednesday. US gold futures for February delivery gained 1% to $4,386.40/oz. “(Precious metals) seem to be making amends for the year-end selling which afflicted them earlier in the week. Year-end position-squaring pressures have eased and gold is kicking off 2026 with gains, now that fundamentals are again in focus,“ said Tim Waterer, chief market analyst at KCM Trade. Bullion staged a stellar rally in 2025, ending the year with annual gains of 64%, its largest since 1979.
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Oil inches up following biggest annual loss since 2020
Oil prices edged up on the first day of trade in 2026, after last year posting their biggest annual loss since 2020, as Ukrainian drones targeted Russian oil facilities and a US blockade pressured Venezuela’s exports. Brent crude futures climbed 35 cents on Friday to $61.20 a barrel by 0409 GMT, while US West Texas Intermediate crude was at $57.76 a barrel, up 34 cents. Russia and Ukraine have traded allegations of attacks on civilians on New Year’s Day despite talks overseen by US President Donald Trump that are aimed at bringing an end to the nearly four-year-old war. Kyiv has been intensifying strikes against Russian energy infrastructure in recent months, aiming to cut off Moscow’s sources of financing for its military campaign in Ukraine.
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