KARACHI: The KSE-100 index surged by 639 points, closing at 118,971, with a robust trading volume of 741 million shares, reflecting significant investor interest. The top-performing stocks by price change were KTML, POML, and PTC, while KEL, PSEL, and JVDC experienced declines. The day's trading activity was heavily concentrated in the Technology, Power, and Cement sectors.

In other financial news, the State Bank of Pakistan reported a rise in its foreign exchange reserves by $70 million, bringing the total to $11.52 billion. This development comes as the government is considering imposing a 1.5% tax on imports, alongside a potential sales tax exemption on refinery equipment imports to stimulate economic activity.

On the fiscal policy front, Prime Minister Shehbaz Sharif is set to announce a new tariff policy aimed at enhancing industrial competitiveness. Meanwhile, Pakistan has launched its first sovereign green sukuk, marking a step towards sustainable financial instruments.

The government is also reportedly working on a deal to manage power sector circular debt and reduce tariffs, a move expected to provide relief to the energy sector. Additionally, the Federal Board of Revenue has linked a reduction in Federal Excise Duty on juices with the submission of post-dated cheques.

In international trade, the All Pakistan Textile Mills Association and textile bodies from Uzbekistan have reached an understanding to foster bilateral trade relations, reflecting growing economic ties in the region.