Karachi: The KSE-100 Index experienced a significant uptick, gaining 545 points to close at 105,104, with a notable volume of 1,743 million shares traded. The trading session saw robust performance in the stocks of Pakistan Telecommunication Company (PTC), National Bank of Pakistan (NBP), and Pakistan Aluminium Beverage Cans Limited (PABC), while the stocks of Ibrahim Fibres Limited (IBFL), Service Industries Limited (SRVI), and EFU General Insurance Limited (EFUG) declined. Trading activity was predominantly focused in the Technology, Refinery, and Cable sectors.

According to Taurus Securities Limited, the market roundup highlighted several key economic developments. Among these, the National Tariff Commission (NTC) has urged provincial governments to finalize agriculture tax bills by year-end, and new incentives have been proposed to boost housing finance. Additionally, state-owned enterprises (SOEs) reported profits of Rs102 billion, and ongoing discussions aim to enhance cooperation in trade and investment, including talks to import Russian oil.

Other notable updates include the government's decision to defer the LNG contract with Qatar for a year and a reduction in government debt stock by Rs456 billion month-on-month, bringing it to Rs69.114 trillion. The government also raised Rs2 trillion in 2024 using the Pakistan Stock Exchange (PSX) platform. The Cabinet Committee on State-Owned Enterprises (CCoSOEs) expressed concerns over the Rs1 trillion annual losses incurred by SOEs. Furthermore, 17 Independent Power Producers (IPPs) from the 1994 and 2002 policies were highlighted in the news snapshot.