Karachi: The KSE-100 Index experienced a significant boost yesterday, climbing 1,278 points to close at 161,935. A total of 672 million shares changed hands during the session.

The top performers, based on price changes, were KTML, PIOC, and MLCF. Conversely, CHCC, BNWM, and AIRLINK saw the largest declines.

The trading activity was primarily focused on the technology, investment companies, and property sectors.

In other economic developments, the State Bank of Pakistan has imposed limits on cash dollar transactions, while costly food items continue to drive inflation. The federal government reported a sharp decline in its debt stocks.

The price of high-speed diesel has increased, though the petrol rate remains unchanged. Meanwhile, traders are facing an additional USD750 million in costs per month.

In broader regional news, Russia has offered to mediate rising tensions between Pakistan and Afghanistan, while Afghanistan is looking to reduce its economic reliance on Pakistan.

The maiden session of the 11th National Finance Commission has been delayed yet again.

On the diplomatic front, Pakistan and Jordan have pledged to expand ties across key economic and defense sectors.

Pakistan is also taking steps to boost its economic standing, with Prime Minister calling for an end to tax evasion in key sectors, and automakers being encouraged to increase their exports.

Additionally, the government plans to reopen talks with the IMF to resolve a deadlock over refinery upgrades.

In the energy sector, OGDCL has commenced production from the Pasakhi-14 Well, and HUBCO's subsidiary has secured exploration rights.

Pakistan State Oil is finalizing a deal with Qatar to divert LNG cargoes, while sugar millers have delayed the crushing season following a court stay order, causing price concerns.

These developments reflect a dynamic economic landscape, with significant movements in the stock market and various sectors seeking to navigate challenges and seize opportunities.