The index hit a high of 120,793.41 points during intra day trading session and maintained a relatively tight range, with the day’s low recorded at 119,085.73 points.
The trading volume stood at over 60 million shares, reflecting strong investor participation.
The day’s trading value amounted to 5.12 billion, underscoring a robust market activity that has lifted investor confidence.
The development came after Prime Minister Shehbaz Sharif announced a 15% cut in electricity tariffs, reducing prices by Rs7.41 per unit, aimed at easing the financial burden on families and boosting national grid consumption.
The reduction, benefiting around 40.3 million consumers, primarily residential users, was achieved through seasonal tariff adjustments, a budget-neutral subsidy increase, and tax reductions.
The new average electricity rate for domestic consumers will be Rs34.37 per unit, while industrial rates have been lowered to Rs40.51 per unit.
The government successfully negotiated with the International Monetary Fund (IMF) to approve this price reduction, despite initial resistance.
The maximum relief of 12% has been granted to commercial consumers, while industrial users benefit from a 13% reduction.
The new rates also introduce significant cuts for protected residential consumers, with reductions of up to 32% depending on usage.
On the other hand, US President Donald Trump announced the imposition of ‘discounted reciprocal’ tariffs on several countries, including a 29% tariff on Pakistani goods.
Trump justified the move as a necessary step to correct trade imbalances and address what he viewed as unfair treatment of American products in foreign markets.
He argued that high tariffs imposed by other countries, including Pakistan, had unfairly subsidised their economies at the expense of the US.
Trump highlighted that Pakistan had been charging a 58% tariff on American goods, prompting the US to impose a 29% tariff on Pakistani exports.
The US remains one of Pakistan’s largest trading partners, with bilateral trade valued at $7.3 billion in 2024. US exports to Pakistan grew by 4.4% to $2.1 billion, while imports from Pakistan increased by 4.9%, totalling $5.1 billion.
In addition to Pakistan, the US has imposed reciprocal tariffs on 40 other countries, with rates ranging from 10% to 50%, as part of a broader strategy to address global trade imbalances and ensure fairer trade conditions for US industries.