Karachi: The KSE-100 Index saw a significant rise, gaining 1,226 points to close at 152,202 with 1,042 million shares traded. HUBC, THALL, and PSX led the gains, while PGLC, JDWS, and GHGL were the top decliners. The trading activity was primarily concentrated in the food, technology, and property sectors.

In related economic developments, Pakistan and China are set to sign 11 training agreements under CPEC phase-II, enhancing bilateral cooperation. Prime Minister Shehbaz Sharif is actively seeking to draw more business-to-business investments from Chinese enterprises.

Meanwhile, the government is planning to seek the International Monetary Fund’s approval for the CPP levy. In a progressive move, the State Bank of Pakistan has agreed in principle to legalize digital currencies, signaling a shift towards modern financial practices.

On the fiscal front, the government’s treasury bill exceeded its target by Rs91 billion. However, only Rs16.59 billion has been allocated for new projects, indicating a cautious approach to new expenditures.

In the energy sector, Wapda is seeking a 90% increase in its revenue requirement, reflecting the need for enhanced infrastructure. Concurrently, HUBCO Green is expanding its electric vehicle charging network across Pakistan's major cities, supporting the country's move towards sustainable energy solutions.

In other market news, gold prices reached a record high of Rs376,700 per tola, attracting investor attention. Additionally, Saudi investors are showing interest in ventures within Pakistan's snack industry, further diversifying the investment landscape.