Karachi: The KSE-100 Index saw a significant upswing, gaining 2,572 points and closing at 128,199, with an impressive 1,024 million shares changing hands. This marked a notable day for the Pakistani stock market, driven by active trading across key sectors such as banking, technology, and textiles.

Leading the market in terms of price change were FABL, MCB, and ABL, showcasing strong performance. Conversely, BNWM, GHGL, and TGL were among the top decliners. This activity was particularly pronounced in the banking sector, which saw heightened interest from investors.

In related economic developments, Pakistan communicated to the United Nations the importance of resolving the Kashmir dispute. Meanwhile, June's Consumer Price Index (CPI) inflation registered a year-on-year increase of 3.2 percent.

Additionally, the National Electric Power Regulatory Authority (Nepra) approved revised average uniform Schedule of Tariffs for DISCOs and KE. The State Bank of Pakistan reported a purchase of $6.8 billion from the market over ten months.

The Federal Board of Revenue (FBR) has abolished Additional Customs Duty (ACD) on imports falling under 0, 5, and 20 percent duty slabs. The FBR is also targeting an 18 percent tax-to-GDP ratio by the fiscal year 2027-28.

Private sector borrowing has reached Rs710 billion in the fiscal year 2025, reflecting a dynamic financial landscape. Meanwhile, the government is reportedly exploring options to sell excess LNG due to a global supply glut affecting local gas production.

The government is advancing its National Electric Vehicles (NEV) policy, backed by a Rs100 billion subsidy, although no subsidy or tax relief on imports will be provided, according to the Economic Coordination Committee's decision on sugar deregulation.