Karachi: The KSE-100 index saw a significant uptick, gaining 720 points to close at 119,691, bolstered by a trading volume of 579 million shares. The top performers in terms of price change were PKGP, KTML, and BNWM, while TPLRF1, YOUW, and KEL emerged as the day's top decliners. The trading activity was predominantly concentrated in the Technology, Refinery, and Cement sectors.

The market's robust performance was marked by a notable increase in consumer confidence, which some analysts interpret as a sign of economic recovery. Concurrently, the government secured a historic loan deal worth Rs1.275 trillion from banks to address the power sector debt, further boosting investor sentiment.

In related economic developments, the Oil and Gas Regulatory Authority (Ogra) announced a reduction in LPG prices for June. Additionally, the petrol price experienced a marginal rise, whereas LPG prices saw a decrease of Rs4.62.

On the international front, former U.S. President Donald Trump indicated that Pakistani representatives are scheduled to visit the United States next week for trade discussions, potentially impacting future market dynamics.

The government is also eyeing significant economic growth, with a target of 4.2% for the fiscal year 2025-26, which could influence market trends moving forward. Meanwhile, preparations are underway for Pakistan to finalize the sale of a majority stake in First Women Bank to a UAE entity next month, indicating continued foreign investment interest.

As the market looks ahead, the potential introduction of preferential tariffs is expected to strengthen trade ties with Turkiye, while domestic stakeholders urge reforms in the retail tax structure and other economic policies to sustain growth momentum.