Karachi: The KSE-100 index fell by 132 points, closing at 115,127, with a trading volume of 1,058 million shares. The session saw significant performance in companies such as PIBTL, PSX, and PGLC, while JVDC, KOHC, and PIOC experienced notable declines. Refinery, Technology, and Food sectors were the primary focus of trading activity.

According to Taurus Securities Limited, the market session reflected various economic challenges and sectoral shifts. Highlights from the session included the launch of an economic plan named 'Uraan Pakistan', aimed at reducing reliance on IMF lending, as expressed by Aurangzeb. Additionally, discussions on the sale of a 15 percent stake in Reko Diq are nearing completion. Meanwhile, NEPRA disclosed that electricity costs have surged to 491 percent above the generation price, adding to the complexities faced by the power sector.

The Federal Board of Revenue reported a shortfall in the December tax target, with a six-month deficit reaching Rs386 billion. In a related development, the government announced an increase in petrol and diesel prices for the upcoming fortnight, while OGRA reduced LPG prices by Rs4 per kg for January. A $200 million loan agreement with the Asian Development Bank was also signed to support power distribution.

In the business sector, Fauji Fertilizer issued 150.87 million shares to FFBL shareholders, and Cherat Packaging completed the sale of its Papersack Production Line IV for $638,000. These moves indicate ongoing adjustments in the industrial landscape amidst broader economic pressures.