Karachi: The KSE-100 Index experienced a significant boost yesterday, gaining 1,171 points to close at 162,803, with 948 million shares traded. The market saw notable performances from TRG, THALL, and PSEL, while SNGP, PGLC, and PTC registered declines. Trading was predominantly concentrated in the banking, oil marketing companies (OMCs), and technology sectors.
In the broader news landscape, former President Donald Trump has asserted that Pakistan is among the countries testing nuclear weapons. Meanwhile, a coalition of Muslim countries has criticized what they describe as Israeli violations.
On the economic front, the government's economic team has presented a new roadmap for the future, and issues related to the National Finance Commission (NFC) are set to be addressed by the relevant forum, according to Aurangzeb.
In other notable developments, a discovery of $636 billion worth of gold reserves has been reported in Tarbela, and October's Consumer Price Index (CPI) inflation has increased by 6.2 percent year-over-year.
Energy sector reforms have also been announced, with Leghari unveiling plans to reduce tariffs. However, there has been opposition to the revision of K-Electric's Multi-Year Tariff (MYT).
In the realm of infrastructure, the Chief Minister has urged Saudi investors to engage in upcoming mega transport projects, while upgraded facilities at Port Qasim are expected to contribute significantly to revenue goals.
The financial sector saw retail payments reach Rs612 trillion for the fiscal year 2025, although PIA operations have been disrupted nationwide due to an engineers' protest.
Additionally, the Competition Commission of Pakistan (CCP) has proposed the establishment of a dedicated steel ministry, drawing on models from China and India. Despite early gains, cotton output may see a 15 percent drop.
In corporate news, Fauji Cement is moving towards acquiring Attock, and OGDC has reported a substantial improvement in receivables recovery. Hubco's Thar projects have achieved a significant milestone, and cement dispatches have increased by 15 percent.