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Pakistan Stock Exchange (PSX) on Tuesday faced significant volatility as the benchmark KSE-100 index dropped 1,510 points, or 1.33%. Analysts attributed the bearish sentiment to profit-taking amid pressure from the approaching rollover of futures contracts and uncertainty surrounding the outcome of ongoing talks between the government and Pakistan Tehreek-e-Insaf (PTI). The index initially surged by 1,112 points, reflecting early optimism, but later plunged by 1,629 points, driven by profit-taking and concerns over leverage positions and borrowing costs. The cautious market behaviour was also influenced by the approaching end-of-year contract deadline, which added to the pressure on investors. Despite the decline, there was active trading with a volume of 881 million shares and a value of Rs54 billion. Ahsan Mehanti of Arif Habib Corp commented that profit-taking was witnessed at the PSX amid pressure from futures contracts rollover and uncertainty about the outcome of patch-up talks between the government and PTI. He added that a weak rupee, falling global crude oil prices, and institutional selling in overbought shares played the role of catalysts in the bearish activity. At the end of trading, the benchmark KSE-100 index recorded a decline of 1,509.61 points, or 1.33%, and settled at 112,414.81. In its review, Topline Securities commented that the KSE-100 index exhibited significant volatility as market sentiment remained uncertain. The index climbed to the intra-day high of 1,112 points early in the session, reflecting some optimism, but later tumbled to the intra-day low of 1,629 points due to profit-taking, Topline said. It added that the market's downturn was primarily driven by concerns over rising leverage positions, which heightened risk perceptions. This, combined with increasing borrowing costs, compelled investors to trim their portfolios. Furthermore, the approaching last few days of December contract put additional pressure on market participants, resulting in a cautious and selective trading behaviour. Fauji Fertiliser Company, Mari Petroleum, MCB Bank, Hub Power and Engro Corporation emerged as major laggards of the day, collectively dragging the index down by 850 points, Topline said. In its report, Arif Habib Limited (AHL) noted that the KSE-100 index backed off following a sharp two-day rally and closed down by 1.33%, ahead of the December 25 holiday. Some 71 shares rose, while 27 fell, with UBL (+2.72%), Dawood Hercules Corporation (+3.3%) and Sui Northern Gas Pipelines Ltd (+6.35%) contributing the most to index gains. On the other hand, Fauji Fertiliser Company (-3.65%), Mari Petroleum (-3.37%) and MCB Bank (-3.84%) were the biggest drags, according to the AHL report. JS Global analyst Muhammad Hasan Ather commented that the downturn was primarily driven by profit-taking following an early surge fuelled by political stability and favourable economic prospects. Despite the decline, the index's rise to the intra-day high of 115,036 demonstrated renewed investor confidence, he said. Ather noted that the market's overall positive momentum was supported by improving macroeconomic indicators, including a significant current account surplus and increased foreign investment. These robust economic fundamentals continue to signal a promising outlook for the market, offering potential growth opportunities for investors, he said. Overall trading volumes increased to 880.6 million shares compared to Monday's tally of 857.8 million. Shares of 456 companies were traded. Of these, 129 stocks closed higher, 288 fell and 39 remained unchanged. WorldCall Telecom was the volume leader with trading in 127.4 million shares, gaining Rs0.06 to close at Rs1.78. It was followed by Fauji Foods with 67.1 million shares, gaining Rs0.46 to close at Rs14.95 and Sui Southern Gas Company with 33.6 million shares, losing Rs0.39 to close at Rs46.09. During the day, foreign investors sold shares worth Rs617.8 million, the National Clearing Company of Pakistan reported. COMMENTS Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our
LONDON (AP) — A woman who claimed mixed martial arts fighter Conor McGregor “brutally raped and battered” her in a Dublin hotel penthouse was awarded nearly 250,000 Euros ($257,000) on Friday by a civil court jury in Ireland. Nikita Hand said the Dec. 9, 2018, assault after a night of partying left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced the woman to do anything against her will and said she fabricated the allegations after the two had consensual sex. His lawyer had called Hand a gold digger. The fighter, once the face of the Ultimate Fighting Championship but now past his prime, shook his head as the jury of eight women and four men found him liable for assault after deliberating about six hours in the High Court in Dublin. He was mobbed by cameras as he left court but did not comment. He later said on the social platform X that he would appeal the verdict and the “modest award.” Hand's voice cracked and her hands trembled as she read a statement outside the courthouse, saying she would never forget what happened to her but would now be able to move on with her life. She thanked her family, partner, friends, jurors, the judge and all the supporters that had reached out to her online, but particularly her daughter. “She has given me so much strength and courage over the last six years throughout this nightmare to keep on pushing forward for justice,” she said. “I want to show (her) and every other girl and boy that you can stand up for yourself if something happens to you, no matter who the person is, and justice will be served.” The Associated Press generally does not name alleged victims of sexual violence unless they come forward publicly, as Hand has done. Under Irish law, she did not have the anonymity she would have been granted in a criminal proceeding and was named publicly throughout the trial. Her lawyer told jurors that McGregor was angry about a fight he had lost in Las Vegas two months earlier and took it out on his client. “He’s not a man, he’s a coward,” attorney John Gordon said in his closing speech. “A devious coward and you should treat him for what he is.” Gordon said his client never pretended to be a saint and was only looking to have fun when she sent McGregor a message through Instagram after attending a Christmas party. He said Hand knew McGregor socially and that they had grown up in the same area. She said he picked her and a friend up in a car and shared cocaine with them, which McGregor admitted in court, on the way to the Beacon Hotel. Hand said she told McGregor she didn't want to have sex with him and that she was menstruating. She said she told him “no” as he started kissing her but he eventually pinned her to a bed and she couldn't move. McGregor put her in a chokehold and later told her, “now you know how I felt in the octagon where I tapped out three times,” referring to a UFC match when he had to admit defeat, she said. Hand had to take several breaks in emotional testimony over three days. She said McGregor threatened to kill her during the encounter and she feared she would never see her young daughter again. Eventually, he let go of her. “I remember saying I was sorry, as I felt that I did something wrong and I wanted to reassure him that I wouldn’t tell anyone so he wouldn’t hurt me again,” she testified. She said she then let him do what he wanted and he had sex with her. A paramedic who examined Hand the next day testified that she had never before seen someone with that intensity of bruising. A doctor told jurors Hand had multiple injuries. Hand said the trauma of the attack had left her unable to work as a hairdresser, she fell behind on her mortgage and had to move out of her house. Police investigated the woman’s complaint but prosecutors declined to bring charges, saying there was insufficient evidence and a conviction was unlikely. McGregor, in his post on X, said he was disappointed jurors didn't see all the evidence prosecutors had reviewed. He testified that the two had athletic and vigorous sex, but that it was not rough. He said “she never said ‘no’ or stopped” and testified that everything she said was a lie. “It is a full blown lie among many lies,” he said when asked about the chokehold allegation. “How anyone could believe that me, as a prideful person, would highlight my shortcomings.” McGregor’s lawyer told jurors they had to set aside their animus toward the fighter. “You may have an active dislike of him, some of you may even loathe him – there is no point pretending that the situation might be otherwise,” attorney Remy Farrell said. “I’m not asking you to invite him to Sunday brunch.” The defense said the woman never told investigators McGregor threatened her life. They also showed surveillance video in court that they said appeared to show the woman kiss McGregor’s arm and hug him after they left the hotel room. Farrell said she looked “happy, happy, happy.” McGregor said he was “beyond petrified” when first questioned by police and read them a prepared statement. On the advice of his lawyer, he refused to answer more than 100 follow-up questions. The jury ruled against Hand in a case she brought against one of McGregor’s friends, James Lawrence, whom she accused of having sex with her in the hotel without consent.None
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Syra Health to Present at NobleCon20US stock indices pushed to fresh records Tuesday, shrugging off tariff threats from President-elect Donald Trump while European equities retreated. Trump, who doesn't take office until January 20, made his threat in social media posts Monday night, announcing huge import tariffs against neighbors Canada and Mexico and also rival China if they do not stop illegal immigration and drug smuggling. Both the Dow and S&P 500 notched all-time highs, with investors regarding the incoming president's words as a bargaining chip. "In theory, higher tariffs should not be good news for stocks. But, you know, I think the market's chosen to think of (it) as a negotiating tactic," said Steve Sosnick of Interactive Brokers. "You have bullish sentiment," said LBBW's Karl Haeling. "People are tending to look at things as positively as possible." But General Motors, which imports autos from Mexico to the United States, slumped 9.0 percent, while rival Ford dropped 2.6 percent. Overseas bourses were also buffeted by the news. European stocks followed losses in Asia, despite Trump excluding Europe as an immediate target for tariffs. "These are his first direct comments on tariffs and tariff levels since becoming president-elect, and they have roiled markets," said Kathleen Brooks, research director at XTB trading group, ahead of the Wall Street open. "It is early days, and there are plenty of opportunities for Trump to direct his attention to Europe down the line," Brooks added. The US dollar rallied against its Canadian equivalent, China's yuan and Mexico's peso, which hit its lowest level since August 2022. In other economic news, the Conference Board's consumer confidence index rose to 111.7 this month, up from 109.6 in October, boosted by greater optimism surrounding the labor market. "November's increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market," said Dana Peterson, chief economist at The Conference Board. Pantheon Macroeconomics chief US economist Samuel Tombs added in a note that the increase in consumer confidence overall "likely was driven by euphoria among Republicans." "The index also jumped in late 2016, when Mr. Trump was elected for the first time," he said. Federal Reserve meeting minutes showed policy makers expect inflation to keep cooling, signaling a gradual approach to interest rate cuts if price increases ease further and the job market remains strong. More from this section New York - Dow: UP 0.3 percent at 44,860.31 (close) New York - S&P 500: UP 0.6 percent at 6,021.63 (close) New York - Nasdaq: UP 0.6 percent at 19,174.30 (close) London - FTSE 100: DOWN 0.4 percent at 8,258.61 (close) Paris - CAC 40: DOWN 0.9 percent at 7,194.51 (close) Frankfurt - DAX: DOWN 0.6 percent at 19,295.98 (close) Tokyo - Nikkei 225: DOWN 0.9 percent at 38,442.00 (close) Hong Kong - Hang Seng Index: FLAT at 19,159.20 (close) Shanghai - Composite: DOWN 0.1 percent at 3,259.76 (close) Euro/dollar: DOWN at $1.0482 from $1.0495 on Monday Pound/dollar: DOWN at $1.2567 from $1.2568 Dollar/yen: DOWN at 153.06 yen from 154.23 yen Euro/pound: DOWN at 83.41 pence from 83.51 pence Brent North Sea Crude: DOWN 0.3 percent at $72.81 per barrel West Texas Intermediate: DOWN 0.3 percent at $68.77 per barrel bur-jmb/st