Thursday, March 26 2026

PSX sheds over 2,000 points amid rising Middle East tensions
The Pakistan Stock Exchange (PSX) opened sharply lower on Thursday, with the KSE-100 Index shedding over 2,000 points amid rising geopolitical uncertainty after Iran rejected a US-backed ceasefire proposal. At 9:35am, the benchmark index was hovering at 156,251.57, down by 2,061.87 points or 1.30%. Selling pressure was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including MCB, MEBL, NBP, MARI, OGDC, PPL, POL, PSO and HUBCO, traded in the red. Iran rejected a US proposal aimed at ending the ongoing war, setting out five conditions for a ceasefire, including international recognition and guarantees of Iranian sovereignty over the Strait of Hormuz, insisting that any halt to hostilities will occur solely on Tehran’s terms and timetable, state-run Press TV reported on Wednesday, citing a senior Iranian political-security official.
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Rupee registers slight gain against US dollar
Internationally, currency markets showed signs of fatigue early in ​Asian trade on Wednesday, with traders cautious over US President Donald Trump’s efforts to bring an ‌end to the war with Iran. The euro edged higher, up 0.1% at $1.1619, with most ​other currency pairs remaining unchanged. The British pound was up 0.1% at $1.3428, while the New Zealand ​dollar was flat at $0.5834. Against the yen, the US dollar ​was steady at 158.645 yen, after the release of minutes from the Bank of Japan’s January policy meeting ​showed many board members saw the need to keep raising interest rates without any specific pace in mind.
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Economy starts showing signs of revival and stability
A member supreme council of Businessmen Panel (progressive) of FPCCI and former Hyderabad Chamber of Commerce and Industry (HCCI) president Adeel Siddiqui has said that Pakistan’s economy had started showing signs of revival and stability but still there was need to address challenges of structural nature confronting trade and industrial sectors. He asserted that besides this phase of economic stability the country needed a sustainable growth and this merits certain policy decisions and added that if structural issues of the economy were addressed then this stability would transform into lasting economic prosperity. In a statement issued here Tuesday the business community leader said that steps should be urgently taken to fix these structural problems.
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Oil prices drop 2pc
Oil prices slid about 2 percent on Wednesday after paring deeper losses earlier in the trading session, as Iran reviewed a US proposal to end the war that has disrupted global energy flows from the Persian Gulf. Brent futures fell USD2.27, or 2.2 percent, to settle at USD102.22 a barrel, while US West Texas Intermediate crude futures fell USD2.03, or 2.2 percent, to settle at USD90.32. Earlier in the session, Brent futures were down by as much as 7 percent. Iran is still reviewing a US proposal to end the war in the Gulf, despite an initial response that was negative, a senior Iranian official told Reuters on Wednesday, indicating that Tehran had so far stopped short of rejecting it outright. US President Donald Trump will hit Iran harder if Tehran fails to accept that the country has been “defeated militarily,” White House press secretary Karoline Leavitt said.
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Bank Makramah Ltd assigned ‘A-’ and ‘A2’ ratings by VIS
Bank Makramah Limited (BML) has been assigned initial entity ratings of “A-” (Long Term) and ‘A2’ (Short Term) with a “Stable” outlook by VIS Credit Rating Company Limited. The assigned ratings reflect a significant improvement in the bank’s credit profile, underpinned by strong sponsor support, successful recapitalization, ongoing restructuring initiatives, and a strengthened governance and liquidity framework. It is noteworthy that the bank’s last assigned ratings in 2018 stood at “BBB-” (Long Term) and “A3” (Short Term) with a “Negative” outlook. Subsequently, the ratings were suspended in 2019. The current assignment represents a restoration of ratings after suspension, along with a substantial upgrade in both long-term and short-term ratings, and a revision in outlook from Negative to Stable. This achievement underscores the Bank’s comprehensive transformation journey, marked by capital strengthening, improved solvency position, enhanced governance structure, and consistent progress toward strategic objectives.
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