KSE-100 hits record 159,280 points on strong investor confidence

The benchmark KSE-100 index closed at an all-time high of 159,280.09, marking a 0.66% increase, fueled by strong investor confidence despite a drop in trading volumes to 880 million shares from 1,027 million shares in the previous session.

Key sectors driving the gains included Power Generation & Distribution, Commercial Banks, and Oil & Gas Exploration Companies, which collectively contributed 890 points to the index, according to IIS.

Among the top performers, HUBC led with a gain of 419.4 points, followed by ENGROH with 277.34 points, while LUCK was the biggest loser, shedding 151.62 points, and BAFL declined by 35.01 points.

In terms of price movements, BOP emerged as the top gainer with a 7.19% rise, while HUBC gained 6.34%. On the other hand, BNWM and SCBP were the notable losers, slipping 2.72% and 2.18% respectively.

Volume-wise, HUBC contributed 102 million shares and BOP added 19 million shares, reflecting active trading in these stocks. The market’s positive momentum underscores robust sector performance, even as overall trading activity moderated.

Govt inks largest-ever Rs1.225tr debt restructuring agreement

Earlier, the federal government has signed a Rs1.225 trillion financing agreement with a consortium of 18 banks to address the country’s ballooning power sector circular debt, a transaction Finance Minister Muhammad Aurangzeb described as the largest restructuring deal in Pakistan’s history.

The Ministry of Finance facilitated the loan agreements with Habib Bank, Meezan Bank, National Bank of Pakistan, Allied Bank Ltd, United Bank Ltd, Faysal Bank Ltd, Bank Al Habib Ltd, MCB Bank Ltd, Bank Alfalah, Dubai Islamic Bank, Bank of Punjab, BankIslami Pakistan, Askari Bank Ltd, Habib Metropolitan Bank, Al Baraka Bank Ltd, Bank of Khyber, MCB Islamic Bank and Soneri Bank.

Circular debt refers to the financial shortfall in Pakistan’s energy sector, where various entities involved in electricity generation, supply, and distribution owe large amounts of money to each other. The problem is rooted in poor management, delayed payments, and inefficiencies in revenue collection.

The signing ceremony was held in Islamabad and witnessed virtually by Prime Minister Shehbaz Sharif from New York. The premier termed the agreement a “significant milestone” in efforts to curb the mounting debt, crediting the task force for “fulfilling its responsibilities in an excellent manner.”

Read: Saudi loans help Pak economy stay afloat

PM Shehbaz added that during a recent meeting, the IMF managing director praised the government’s reform agenda. He stressed that the next step would be the privatisation of power distribution companies (DISCOs) and tackling the challenge of line losses, urging officials to move forward with “confidence and firm resolve.”