Karachi: The KSE-100 index experienced a significant boost yesterday, gaining 573 points to close at 115,845 with a trading volume of 674 million shares. The market's top performers in terms of price change included LOTCHEM, MLCF, and NPL, while MEHT, YOUW, and SAZEW were the top decliners. Trading activity was predominantly focused in the Technology, Chemical, and Banking sectors.

According to a statement by Taurus Securities Limited, a variety of important developments were also noted across different economic sectors. The Monetary Policy Committee (MPC) is scheduled to meet on the 27th, while Minister Aurangzeb informed the National Assembly that the total debt stands at Rs71.3 trillion. Additionally, it was highlighted that provinces seem reluctant to purchase electricity distribution companies (Discos).

Further economic insights revealed that Barrick's CEO discussed the Reko Diq mine project, and ministries have been instructed to align their objectives with the Uraan plan. The ongoing issue of gas shortages was also raised in the Senate, indicating continued concern over energy supplies.

In terms of trade, oil imports showed minimal growth, but the repatriation of profits surged by 114 percent. The first half of the year witnessed a 9.67 percent increase in textile exports, reaching $9.08 billion year-on-year. The All-Pakistan Textile Mills Association (APTMA) has appealed to the Federal Board of Revenue (FBR) for assistance in reviving the textile sector.

Power generation saw a modest increase of 2 percent year-on-year in December, and the Oil and Gas Development Company (OGDC) has increased its oil output while adding gas supply from a new discovery. The Appellate Tribunal Inland Revenue (ATIR) has instructed a fertilizer company to deposit Gas Infrastructure Development Cess (GIDC) funds into the national treasury.