Karachi: The KSE-100 index experienced an uptick, gaining 112 points to close at 118,333 with 690 million shares traded, marking a day of significant activity within the Pakistani stock market. The trading session saw notable performances in the stocks of KTML, PKGP, and KOHC, while RMPL, POML, and BNWM faced declines. The trading activity was predominantly concentrated in the Power, Technology, and Cement sectors.
In other developments, Prime Minister reiterated his willingness for sincere talks with India, indicating possible diplomatic engagement in the region. Meanwhile, a U.S. trade court blocked former President Trump's wide-ranging tariffs, impacting international trade dynamics.
On the economic front, Pakistan and the International Monetary Fund (IMF) have yet to reach a consensus on revenue and expenditure matters. In an encouraging sign for the financial markets, China assured a $3.7 billion refinancing package expected next month.
Azerbaijan announced a $2 billion investment package for Pakistan, signaling growing economic ties between the two nations. The Pakistani government successfully raised Rs772 billion, demonstrating effective fiscal management.
OPEC+ convened as discussions on increasing oil output loomed, potentially affecting global oil prices. An internal review labeled the FCA system as 'a complete failure,' prompting calls for systemic improvements.
A Trump aide claimed the tariffs played a role in brokering the India-Pakistan ceasefire, adding complexity to trade and diplomatic narratives. The Federal Board of Revenue (FBR) briefed Aurangzeb on tax proposals, reflecting ongoing fiscal policy adjustments.
Government borrowing from banks decreased to Rs2.8 trillion, a move attributed to fiscal discipline efforts. The Senate finance standing body chairman warned that the Budget for 2025-26 might further burden the populace.
Pakistan Railways announced plans to commence the Rs2.3 trillion ML-1 project this year, marking a significant infrastructure development. The government is working towards abolishing the 18% GST, according to a ministerial statement.
The government and sugar mills reached an agreement on a cost audit and a temporary price cut, impacting the agricultural economy. Furthermore, PTCL confirmed there will be no extension to the bid deadline for a prime Karachi property.
Nepra's decisions on KE tariffs were also highlighted, and the National Bank of Pakistan launched ATM services at a cattle market to promote cashless transactions, signaling a shift towards digital payments.