Karachi: The KSE-100 index saw an upward movement, gaining 162 points to close at 81,967, with significant trading activity involving 361 million shares. The day’s market dynamics showed particular strength in Technology, Cements, and Engineering sectors, despite mixed performances across the board.

According to Taurus Securities Limited, top performers of the day included companies like PKGP, FHAM, and ILP based on price change, while HGFA, PAEL, and YOUW were among the top decliners. This variability reflects the ongoing adjustments within the market sectors responding to both domestic economic signals and broader global economic trends.

The broader economic landscape provided a mixed backdrop with several positive indicators. The Minister of Finance expressed satisfaction with the current trend of declining inflation. Other significant developments included the benchmark T-bill rate dropping to its lowest since April 2022 at 14.4 percent, and the trade deficit remaining controlled in the first quarter of the fiscal year. Additionally, the country’s foreign exchange reserves were bolstered to $10.7 billion following the latest IMF tranche.

Further economic measures included the signing of a fiscal pact under the IMF’s guidance, a surge in Q1 exports by 14.11 percent year-over-year, and planned economic agreements with Malaysia. However, challenges such as geopolitical tensions and domestic issues like potential gas suspensions to Captive Power Plants (CPPs), which the Karachi Chamber of Commerce and Industry (KCCI) warned could cripple the industry, remain.