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Islamabad: Pakistan's total public debt reached USD 286.832 billion (PKR 80.6 trillion ) as of June 2025, which is almost 13 per cent higher than the previous year, according to the official data."The total public debt of Pakistan has reached PKR 80.6 trillion as of June 25, out of which domestic debt is PKR 54.5 trillion and external debt is PKR 26.0 trillion. This increase is almost 13 per cent over the FY-24," the data said.The Ministry of Finance issued the Annual Debt Review for FY 2025 last month, showing details of the public debt by the end of June 2025, when the financial year ended.It showed that in terms of the Debt-to-GDP ratio, the public debt increased to around 70 per cent in June 2025, as compared to 68 per cent in June 2024. "This was mostly due to lower-than expected growth in the nominal GDP in FY-2025, as significantly lower inflation reduced the pace of economic expansion, thereby pushing up the debt-to-GDP ratio despite fiscal consolidation efforts," it said."The domestic debt increased by 15 per cent Year-on-Year, reaching PKR 54.5 trillion, the lowest annual increase in the past three fiscal years," it said.External debt increased by 6 per cent YoY, reaching USD 91.8 billion as of June 2025, and the major reasons for this increase were disbursements from the IMF, an ADB-guarantee-backed commercial loan of USD 1 billion and inflows from other multilateral institutions.As of June 2025, 84 per cent of Pakistan's external public debt is primarily held by the Federal Government, while 16 per cent is owned by provinces and sub-national entities. Within the provinces, Punjab is the largest borrower with USD 6.18 billion (7 per cent), followed by Sindh at USD 4.67 billion (5 per cent), which recorded the sharpest increase during the year.Khyber Pakhtunkhwa's debt rose to USD 2.77 billion (3 per cent), whereas Baluchistan USD 371 million and Pakistan occupied Kashmir USD 281 million, according to the document.

Agro-chemical firm Bharat Rasayan's board has approved the sub-division of its equity shares and issue of bonus shares in a 1:1 ratio to eligible shareholders. The subdivision of shares is meant to boost the liquidity of its scrips and expand the shareholders' base. In a regulatory filing on Friday, the company informed that the Board has approved the sub-division of existing 41,55,268 equity shares of face value of Rs 10 each, fully paid-up to 83,10,536 shares of the face value of Rs 5 each, fully paid-up. Accordingly, the board approved a consequential amendment to the company's capital clause in the Memorandum of Association. Bharat Rasayan said its board also recommended the issue of bonus equity shares in the ratio of 1:1, which is 1 equity share of Rs 5 each for every 1 share of Rs 5 each to the eligible members of the company, as on the record date to be fixed later. The issue of bonus shares is subject to shareholders' approval. Delhi-based Bharat Rasayan, which is in the pesticides business, posted a net profit of Rs 140.92 crore and a total income of Rs 1,199.02 crore during the 2024-25 fiscal year.

Markets continued their upward momentum for the fourth straight week, ending the Diwali-shortened trading period with modest gains. Optimism dominated the early sessions; however, some profit-booking in the latter part of the week pared the advances. As a result, the Nifty climbed 0.33% to close at 25,795.15, while the Sensex edged up 0.31% to finish at 84,211.88.Stronger-than-expected Q2 earnings from major companies buoyed market sentiment, bolstered further by renewed optimism around potential India–U.S. trade partnerships and easing tariff tensions between the U.S. and China. Continued foreign investor confidence also played a key role, with announced investments exceeding Rs 50,000 crore in India’s financial and banking sectors.However, some caution emerged on the macroeconomic front, as the output of eight core industries decelerated to 3% in September 2025, down from 6.5% in August. Meanwhile, the HSBC Flash India Composite Output Index dipped to a five-month low of 59.9 in October, signaling a slight slowdown in private-sector activity.With this, analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ET Markets regarding the outlook for the Nifty and Bank Nifty, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:What's the view on markets with all the optimism that was seen this week?The Indian equity market has been on a remarkable run this October, with the benchmark index Nifty clocking an impressive rally of over 1,500 points from its low of 24,588 — all within just 15 trading sessions. This swift upward move reflected strong bullish momentum, supported by festive optimism, robust domestic flows, and improving global sentiment.During the Diwali week, Nifty came within striking distance of its all-time high, sparking hopes of a fresh breakout. However, the index couldn’t sustain the momentum and faced profit booking, suggesting that investors may be turning cautious after the sharp run-up.This pause in momentum has led to the formation of a Shooting Star-like candlestick pattern on the weekly chart, a sign that the uptrend may be losing steam. The pattern suggests that bulls tried to push prices higher but faced resistance. However, for this to signal a true reversal, a confirmation candle — typically a bearish follow-through is needed. The daily RSI had touched a high of 72.69, and since then, it has dropped to 67.19, currently in a falling mode, which adds to the cautious tone. Meanwhile, the market is also waiting for details of the India-US trade deal, which could be a key trigger for the next move. With technical indicators cooling off and macro developments in focus, the next few sessions will be crucial in deciding whether this is just a pause or the beginning of a deeper correction.Talking about levels, the zone of 25,550-25,500 will act as crucial support for the index as it is the confluence of the 13-day EMA level and 38.2% Fibonacci retracement level of its recent upward rally (24,588-26,104). While on the upside, the zone of 25,950-26,000 will act as a crucial hurdle for the index. Any sustainable move above the level of 26,000 will lead to a sharp upside rally up to the 26,300 level. This Diwali brought in a lot of cheer in the market. Do historical Diwali to Diwali trends support this optimism? Where do you see Nifty next Diwali?This Diwali has brought renewed optimism to the markets — and historical trends seem to justify the mood. Over the past nine years, Nifty has delivered an average Diwali-to-Diwali return of nearly 14%, posting gains in eight out of nine years. The average positive gain stands at a healthy 15.78%, reflecting the index’s strong festive-season momentum. With Nifty currently around 25,795, a similar return trajectory could lift it to the 29,500–30,000 zone by next Diwali. Sustained earnings growth, strong domestic liquidity, and steady FII inflows could keep the uptrend intact — making the next Diwali another bright one for equity investors.FIIs also turned buyers. Is this likely to sustain?While FIIs have turned buyers in recent sessions, it’s too early if they have well and truly arrived. Over the past three months, they have sold equities worth Rs 1.29 lakh crore, and despite being buyers in 9 out of 15 sessions this month, the net outflow still stands at Rs 866 crore. The long-short ratio in index futures has risen from 6% to 24%, indicating that much of the recent Nifty rally stems from short covering rather than fresh long positions. FIIs remain cautious, watching developments around the India–US trade deal and the Bihar elections in November. Sustained confidence could see them return more decisively, driving markets higher.What are your views on the India-US trade deal? Will a favourable deal result in a further rally?Absolutely. A favourable trade agreement between India and the US could act as a strong catalyst for the markets, potentially triggering a sharp upside rally in benchmark indices.What's the take on Bank Nifty now?The banking benchmark index, Bank Nifty, marked a fresh all-time high on Thursday, reflecting strong sectoral momentum and investor confidence. However, the index couldn’t sustain above the crucial 58,500 level, and soon after, it witnessed profit booking, indicating a temporary shift in sentiment after the sharp rally.This pullback led to the formation of a Shooting Star candlestick pattern on the weekly chart, a technical signal that often points to trend exhaustion. The pattern suggests that bulls attempted to push prices higher but were met with resistance, resulting in a potential pause or reversal in the uptrend.Adding to the cautious tone, the daily RSI has also shown signs of weakness. After touching a high of 76, the RSI has now given a bearish crossover and is currently trending lower, which typically signals a cooling-off in momentum and a possible consolidation phase.With Bank Nifty at a critical juncture, traders will be watching closely for confirmation signals in the coming sessions. Whether this is a temporary breather or the start of a broader correction will depend on price action in the next couple of trading sessions.Talking about crucial levels, the zone of 57,000-56,900 will act as important support for the index as the 38.2% Fibonacci retracement level of its recent upward rally is placed in that region. On the upside, the zone of 58,200-58,300 will act as a crucial hurdle for the index. Any sustainable move above the level of 58,300 will lead to a sharp upside rally up to the level of 59,000, followed by 59,500 in the short term. Any sectors that are looking attractive?From a technical perspective, several sectoral indices are showing signs of continued strength and are likely to outperform in the short term. Leading the pack are Nifty Metal, IT, CPSE, Realty, and Oil & Gas, all of which have maintained bullish momentum supported by favourable chart structures and strong relative strength. These sectors have shown resilience even during broader market pauses.On the flip side, Nifty Media continues to lag behind and is likely to underperform in the near term. Weak price action and lack of buying interest have kept the index subdued, and technical indicators suggest limited upside unless a strong reversal pattern emerges.Any stocks that may be technically well-placed?Technically, Cummins India, Blue Star, Hindalco and Chola Finance are looking good.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Veteran Bollywood actor Satish Shah, known for his performances in films like "Jaane Bhi Do Yaaro", "Main Hoon Na" and hit TV show "Sarabhai vs Sarabhai", died on Saturday, his manager said. He was 74.Ramesh Kadatala, who has been Shah's personal assistant for over 30 years, said the actor passed away at his residence in Bandra east in the afternoon.Ashoke Pandit, Shah's friend and industry colleague, also confirmed his demise and said, "It is a huge loss for our industry. He was a very jovial person."Also read: When Satish Shah opened up about his struggles as an actor despite being FTII graduateHow did Satish Shah start his career?Born on June 25, 1951, Shah was a prominent figure in Indian cinema and television. His career spanned several decades, during which he earned acclaim for his comedic timing in movies such as "Jaane Bhi Do Yaaro", "Maalamaal", "Hero Hiralal", "Main Hoon Na" and "Kal Ho Naa Ho".A graduate of the Film and Television Institute of India (FTII), he initially appeared in minor roles in films such as "Arvind Desai Ki Ajeeb Dastaan" (1978) and "Gaman" (1979).He became a household name after he featured in filmmaker Kundan Shah's 1983 cult classic "Jaane Bhi Do Yaaro", playing the role of the corrupt Municipal Commissioner D'Mello.The film, a satirical comedy on corruption, starred Shah alongside renowned actors like Naseeruddin Shah, Om Puri, and Pankaj Kapur.Also read: The man behind Indravadhan Sarabhai’s timeless witHe was also known for his roles in television series such as "Yeh Jo Hai Zindagi" and "Filmi Chakkar".In the early 2000s, he starred as Indravadan Sarabhai in the popular sitcom "Sarabhai vs Sarabhai" alongside Ratna Pathak Shah, Rupali Ganguli, Sumeet Raghavan and Rajesh Kumar.Shah also appeared in several mainstream blockbuster films, including Shah Rukh Khan's "Kabhi Haan Kabhi Naa", "Dilwale Dulhaniya Le Jayenge", "Main Hoon Na", "Kal Ho Naa Ho", "Om Shanti Om" and Aamir Khan's "Fanaa" and "Akele Hum Akele Tum".He was married to designer Madhu Shah.

Venkatesh Balasubramaniam of JM Financial shared a comprehensive view of the Indian equity markets, highlighting the challenges and opportunities amid the current environment. He emphasized that the markets are trading at elevated valuations, with the headline indices priced at nearly 23–24 times one-year forward earnings—roughly one standard deviation above the mean. While such valuations could be justified by high earnings growth, actual EPS performance has been disappointing. FY25 began with expectations of 15% EPS growth but ended at 3.4%, and current-year projections have been revised down to roughly 7%, implying modest returns at best. Given this context, Venkatesh believes meaningful gains are unlikely from the broader indices, though individual stocks may still offer opportunities."So, earnings have got revised up. Similarly, third quarter again while on a quarter-on-quarter basis the EPS growth will be maybe a little less of a decline and fourth quarter you will see an improvement, but these are already factored in the numbers. I mean, it is not like numbers for the index as a whole are getting revised up and please remember banks are almost 30% of the index," he said.Earnings rerating appears muted, particularly as banks constitute about 30% of the index. While bank earnings have slightly exceeded expectations, the broader EPS trajectory remains flat, making double-digit EPS growth this year improbable. Overvalued sectors include pharmaceuticals and NBFCs, while Venkatesh remains underweight on infrastructure, defence, and certain industrial plays. Metals, meanwhile, are neutral.On energy, recent U.S. sanctions on Russian oil firms have caused crude prices to rise, negatively impacting refiners like Reliance, but benefiting upstream producers such as Oil India and ONGC, with a preference for Oil India in a rising oil-price scenario.Regarding IT, Venkatesh cautioned that large-cap IT growth will remain limited (~5%) due to factors like AI-driven deflation. Mid-cap IT names such as Coforge may see stronger growth (15–20%), but large-cap gains are already priced in, warranting a neutral stance. He favors domestic consumption plays, particularly autos and hospitality.In autos, Maruti Suzuki and Mahindra & Mahindra are top picks for four-wheelers, while Hero MotoCorp and TVS Motor lead in two-wheelers, driven by strong demand and electric vehicle adoption. For hospitality, Leela and Ventive are preferred due to strong demand and underinvestment in hotel supply."Consumption is strong and there has been gross underinvestment when it comes to hotel infrastructure in India. So, while demand is growing at 8%, the supply is growing only at 5%. So, we remain very positive on hotels. The problem with hotels is everyone is always scared when the new hotels will come online," he said.On IPOs, Venkatesh observed that market exuberance and rapid reratings indicate expensive valuations, supported by mutual fund inflows despite FII selling. Finally, on financials, he has moderated his earlier negative stance but remains cautious, awaiting full earnings results before potentially adjusting sector allocations.

The Indian Ambassador to the US, Vinay Mohan Kwatra, held discussions on the India-US energy security partnership and discussed the recent developments in this area.Sharing the details in a post on X on Saturday, Ambassador Kwatra said, "Had a fruitful discussion with Deputy Secretary James Danly on the India-US energy security partnership and shared perspectives on recent developments in energy trade and ties."The meeting comes shortly after the US President, during the Diwali celebrations at the Oval Office, claimed to have discussed with PM Modi India's import of Russian oil."I spoke to Prime Minister Modi today and we just have a very good relationship. He's not going to buy much oil from Russia. He wants to see that war end as much as I do. He wants to see the war between Russia and Ukraine to end. They're not going to be buying too much oil. So they've cut it way back, and they're continuing to cut it way back", he said.While PM Narendra Modi acknowledged the call between himself and the US President, however there was no reference to Oil purchases.Previously on October 18, while addressing a bilateral lunch with Ukrainian President Volodymyr Zelenskyy in the White House, the US President had claimed that India had significantly reduced its oil imports from Russia and is now pulling back entirely, stating that New Delhi "will not be buying oil from Russia anymore."On October 16, India responded to comments made by Trump about PM Modi's assuring him to halt Russian oil purchases, stating that the country's energy sourcing is guided by its national interests and the need to protect Indian consumers.Responding to media queries, MEA spokesperson Randhir Jaiswal said, "India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective. Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions.""Where the US is concerned, we have for many years sought to expand our energy procurement. This has steadily progressed in the last decade. The current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing," he added.