Karachi: The KSE-100 index saw a notable gain of 1,284 points, closing at 104,559, with a trading volume of 1,765 million shares. The most significant price changes were observed in CNERGY, POML, and PAEL, while EFUG, JVDC, and PTC were the top decliners. Market activity was primarily concentrated in the refinery, technology, and cement sectors.

According to Taurus Securities Limited, the financial landscape is shifting with several key developments. A 200 basis points cut in the policy rate is anticipated, and the government has assured that the IMF program remains on track without disruptions. The World Bank projects that Pakistan's total external debt stocks will reach $130.847 billion by the end of 2023. Furthermore, Aurangzeb has advocated for the taxation of the wholesale and retail sectors, as concerns rise over a potential tax shortfall that may expand to Rs400 billion by the end of December.

In other financial movements, the government successfully raised Rs353 billion against a target of Rs500 billion in an Ijarah Sukuk auction. However, foreign investors withdrew $36.58 million from Pakistani T-Bills within a week following a cut in yields. Additionally, November saw a spark in petroleum sales, while banks' Advances to Deposits Ratio stood at 47 percent as of November 15th, and cement dispatches increased by 5.58 percent during the month.

The IT sector is grappling with significant losses, reportedly $1 million per hour, due to the internet shutdown, as reported by P@SHA. Meanwhile, Citi Pharma has announced a partnership with Mersi Farma to establish advanced active pharmaceutical ingredient plants in Indonesia.