Karachi: The Karachi Stock Exchange's benchmark index, the KSE-100, witnessed a substantial gain on Thursday, closing with an increase of 711 points to settle at 162,937. The trading session saw an impressive activity with 725 million shares exchanged.

The standout performers in terms of price change included GHGL, MEHT, and TGL, while the stocks of PABC, THALL, and YOUW experienced declines. The trading activity was predominantly concentrated in sectors such as banks, technology, and investment companies.

Meanwhile, the financial landscape was marked by additional developments as the State Bank of Pakistan's foreign exchange holdings saw a modest rise of $27 million. In a separate financial move, the Asian Development Bank approved a $330 million loan aimed at expanding clean energy transmission in the country.

International trade relations were also a focal point, with Pakistan moving closer to a significant meat export deal with Malaysia. Additionally, The Organic Meat Company initiated direct meat exports to Carrefour Qatar, signaling a potential boost for the country's meat industry.

In geopolitical news, oil prices continued to decline amid talks of a potential peace deal between Russia and Ukraine, which could have global economic implications.

In the judicial sphere, four judges of the Islamabad High Court have taken legal action by moving to the Supreme Court against the 27th Amendment, reflecting ongoing tensions within the country's legal framework.

The day also saw a diplomatic push as the Finance Minister urged European Union firms to explore investment opportunities in Pakistan, emphasizing the nation's potential as a lucrative investment destination.