Karachi: The KSE-100 Index saw a significant rise, gaining 1,304 points to close at 166,678, with trading volume reaching 590 million shares. A surge in activity was concentrated in the technology, banking, and oil marketing sectors. Notably, SSGC, SRVI, and PIOC emerged as top performers, while FATIMA, PKGP, and YOUW faced declines.

In other economic developments, the government has announced a reduction in petrol and diesel prices for the next fortnight. Finance Minister Aurangzeb reported a decrease in debt servicing costs following a policy rate cut, forecasting inflation to remain within 5-6 percent. Meanwhile, the shortfall in finances is expected to decrease as final figures are tallied.

A significant development in the industrial sector came with a Chinese firm committing to invest USD 1.5 billion in the Punjab Industrial Park, signaling increased foreign direct investment in the region. Additionally, a business framework for meat exports to Malaysia has been approved, potentially boosting trade relations.

In regulatory updates, the Competition Commission of Pakistan issued notices to ten sugar mills over alleged collusion. The market also awaits decisions on super tax appeals, set to be heard by the FCC on December 1.

On the international trade front, US tariffs pose a potential threat to reduce Pakistan's exports to Washington by 30 percent, as highlighted in a recent regional report. Meanwhile, the Afghan border closure continues to impact crucial exports, and exports to North America show only minimal growth.

In the energy sector, OPEC+ is expected to maintain current oil output levels, while an LNG diversion plan for 2026 has been approved. The wheat sowing season is anticipated to exceed target expectations, providing a positive outlook for agricultural output.