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PSX rises in cautious trade over Middle East tensions

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The Pakistan Stock Exchange (PSX) began on Wednesday on a minor positive note as investors remained cautious due to escalating tensions in the Middle East. The cautious tone followed President Donald Trump’s warning that military action against Iran could be necessary, a day after he called off an imminent strike to allow more time for talks with Tehran.

The KSE-100 index rose by 519.67 points to 163,416.35, up 0.32 percent from the previous close of 162,896.68 points.

The PSX statistics further revealed that the stock market went bullish on Tuesday, adding 1,091.66 points, a positive shift of 0.67 percent, finishing at 162,896.68 points against 161,805.02 points on the past trading day.

The ready market during the session transacted 391.935 million shares as compared to the previous session’s tally of 499.795 million shares, with a traded value of Rs 22.975 billion versus Rs 19.438 billion. The market capitalisation went up to Rs 18.081 trillion from Rs 17.990 trillion a day earlier.

In the ready market, 262 of the 480 active businesses moved up, 171 declined and 47 were stable.

Asian stocks dropped for a fourth consecutive day on Wednesday as war-driven inflation worries slammed bonds, while investors awaited earnings from Nvidia to see if the world’s most valuable firm might help markets handle higher borrowing costs.

The sell-off in global bond markets continued overnight with investors increasing wagers that the Federal Reserve may need to hike interest rates this year. The benchmark 10-year Treasury yield rose to a 16-month high of 4.687% overnight and the 30-year yield hit 5.198%, levels not seen since 2007.

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Jet fuel price rises by Rs9.05 per litre in Pakistan

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 Jet fuel prices have once again increased in the country, along with the price of kerosene oil.

The price of jet fuel has been increased by Rs9.05 per litre, while kerosene oil has become Rs7.68 per litre more expensive.

Following the increase, the new price of jet fuel has been fixed at Rs355.52 per litre, while kerosene oil will now cost Rs329.54 per litre.

Meanwhile, according to a notification issued by the Petroleum Division, the price of petrol has also been increased by Rs2.10 per litre, taking its new price to Rs392.76 per litre.

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Govt sets deadline of 20th Oct for pilgrims to pay 2nd Hajj installment

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The religious affairs ministry stated late Friday that the federal government has fixed October 20 as the deadline for intending pilgrims selected under the government Hajj system to deposit the second installment of their pilgrimage dues.

ISLAMABAD: Pakistan has set aside 107,526 slots for the government plan, including 30,000 for a shorter package, and another 71,696 slots have been granted to the private scheme for next year’s Hajj.

The country on Aug. 25 completed online booking of all tickets in the government Hajj scheme, the first time the whole quota has been filled through a digital reservation system.

The ministry of religious affairs said in a statement on Friday that the applications of pilgrims for next year’s Hajj will be cancelled if they did not pay by the deadline.

“The dates for depositing the second installment of dues for Hajj pilgrims under the government scheme have been fixed from 5 October to 20 October, 2026,” the ministry said.

“If the second installment is not deposited within the deadline, then the Ministry said the pilgrim’s application will be cancelled and the amount deposited earlier will be refunded to the pilgrim’s account,” the Ministry said.

Under the government arrangement, pilgrims can pay the second payment of Hajj dues through the ‘Pak Hajj App’ or digital Hajj site within the stipulated deadline.

The government said that submitting the Hajj medical fitness certificate on the ‘Pak Hajj’ app or the digital Hajj portal was essential before depositing the second installment.

This year the government announced that pilgrims will pay Rs1.2 million ($4,334) for a 40-day Hajj package and Rs1.3 million ($4,695) for a shorter, 20- to 25-day package under the government system.

The first installment of dues for seats under the shorter government package was paid within 24 hours of the process starting on Aug 18 and the rest of the seats under the plan were booked by Aug 25.

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Petrol price goes up by Rs2.10, diesel by 30 paisa a liter:

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– Petrol and diesel prices have been increased once again under the latest fuel-price revision.

The revised prices will take effect from October 3, 2026.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs2.10 per litre. Following the latest increase, petrol will now cost Rs392.76 per litre.

The price of high-speed diesel has also been raised by 30 paisa per litre, taking its new rate to Rs399.64 per litre.

The Petroleum Division said the announced rates are linked to movements in international petrol and diesel prices.

According to the notification, changes in the global market, Platts rates, premiums and other associated costs were taken into account when determining the revised prices.

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