LAHORE: New Zealand captain Mitchell Santner won the toss and opted to bat against Pakistan in the opening match of a three-nation tournament in Lahore on Saturday.
Experienced New Zealand fast bowler Lockie Ferguson was ruled out of the match with a hamstring injury.
South Africa is the third team in the event, seen as a warm-up for the eight-nation Champions Trophy in Pakistan and the United Arab Emirates from February 19.
Each team plays two matches before the top two compete in the final in Karachi on February 14.
Pakistan squad: Mohammad Rizwan (captain), Fakhar Zaman, Babar Azam, Kamran Ghulam, Tayyab Tahir, Salman Agha, Khushdil Shah, Shaheen Shah Afridi, Naseem Shah, Haris Rauf, Abrar Ahmed
New Zealand squad: Mitchell Santner (captain), Rachin Ravindra, Will Young, Kane Williamson, Daryl Mitchell, Tom Latham, Glenn Phillips, Michael Bracewell, Matt Henry, Ben Sears, Will O’Rourke
Umpires: Faisal Afridi (PAK) and Michael Gough (ENG)
TV Umpire: Richard Illingworth (ENG)
Match referee: David Boon (AUS)
New Zealand win toss and bat against Pakistan in tri-series opener
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New Zealand win toss and bat against Pakistan in tri-series opener
- Experienced New Zealand pacer Lockie Ferguson was ruled out of the match with a hamstring injury
- South Africa is the third team in the event, seen as a warm-up for the eight-nation Champions Trophy
Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst
- Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
- Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity
ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said.
Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday.
The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.
Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday.
“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.
An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.
However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days.
Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.
The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.
Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.
Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.
