Turus Securities Limited has released a comprehensive roundup of the latest market trends and news. The KSE-100 index saw a significant gain of 717 points yesterday, closing at 57,397, with 1,053 million shares traded. Top performers in terms of price change included MUREB, PPL, and HGFA, while the top decliners were EPCL, BAHL, and FCCL. Activity was predominantly concentrated in the Technology, Refinery, and E&P sectors.
According to Turus Securities Limited, key news impacting the market includes a forecast of another gas price hike in January, Pakistan's potential need for another IMF bailout, and an expected inflow of $3 billion from the World Bank and other lenders. Other significant news includes collaboration in the energy sector, foreign inflows into RDAs surging to $6.9 billion, and a $79 million fall in forex reserves. Additionally, Pakistan and Iran have agreed to develop a gas pipeline, with satisfaction expressed over the progress of SOE sell-offs. The market also responded to millers seeking to export 0.5 million tonnes of surplus sugar and efforts to boost pharmaceutical exports to $1 billion. Developments in fuel production and pricing, including PRL moving closer to producing Euro-5 fuels and Ogra accepting PSO's exchange rate adjustment claims for HSD and petrol, were also highlighted. The impending PIA sell-off plan and declining oil prices due to concerns about the US and Chinese economies are also noteworthy market influences.