Karachi: The KSE-100 Index experienced a significant boost, gaining 1,810 points to close at 156,087, with a trading volume of 1,124 million shares. This increase is attributed to heightened activity in the cement, power, and technology sectors. Stocks such as SNGP, MUGHAL, and INIL saw notable price gains, while AGL, EFUG, and TRG were among the top decliners.

In a separate development, the Pakistan Navy, in collaboration with China, announced a substantial gas discovery in the Arabian Sea. This breakthrough is expected to have far-reaching economic implications for the region.

In other economic news, home remittances for July and August rose by 7 percent, reaching USD 6.35 billion year-on-year. However, the trade deficit with the Middle East has widened by 22 percent.

On the international front, a US metals company has entered into a $500 million Memorandum of Understanding with Pakistan for the exploration of critical minerals. Furthermore, a high-level delegation of UAE investors is currently visiting Islamabad, signaling heightened investment interest.

Amidst these developments, the government is considering a new gas levy in response to the current paradox of excess supply and rationing. Meanwhile, the Supreme Court is seeking summaries of past rulings related to the super tax.

Heavy rainfall continues to affect Sindh, raising water levels at Guddu, with the NDMA issuing warnings for sustained heavy inflows in the Chenab, Ravi, and Sutlej rivers.

Systems Limited's "Country Model Bank" is now available on the Temenos Exchange, while KE has proposed amendments to the IGCEP 2025-35. Additionally, the SECP registered 3,278 firms in August, and there are calls for the government to reconsider spectrum auctions focused on revenue generation.