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Pakistan Stocks Set Records as India’s Rally Pauses, Adani Soars After SEBI Clearance

Divergent moves reflected local catalysts outweighing the Fed’s rate cut.

Overview

  • Pakistan’s KSE-100 closed at 157,953 on Thursday and pushed to around 158,936 intraday on Friday, extending gains linked to the SaudiPakistan Strategic Mutual Defence Agreement.
  • The State Bank of Pakistan reported a $245 million current‑account deficit for August, which analysts viewed as contained despite import pressures.
  • India’s Sensex fell 387.73 points to 82,626.23 and the Nifty lost 96.55 to 25,327.05 as profit‑taking set in, with sentiment also strained by reports of a U.S. shift on sanctions waivers for Iran’s Chabahar port.
  • Adani Group stocks rallied up to about 13% after SEBI dismissed Hindenburg Research’s manipulation allegations, saying intra‑group fund transfers did not breach regulations.
  • Provisional NSE data showed foreign investors bought roughly Rs 366.69 crore and domestic institutions purchased about Rs 3,326.56 crore, against a backdrop of the Fed’s 25‑basis‑point cut supporting global risk appetite.