Karachi: The KSE-100 Index saw a significant decline, shedding 1,497 points to close at 166,145, with an active trading volume of 591 million shares. The market's performance was marked by gains in stocks such as BNWM, TRG, and PIOC, while INDU, SCBPL, and FFC were among the top decliners.

The day's trading activity was primarily concentrated in the Technology, Investment Companies, and Power sectors, reflecting a mixed sentiment among investors. Despite the fluctuations, the overall market mood appeared cautious, with investors closely monitoring developments in both local and international arenas.

In related news, several economic and political developments were noteworthy. UN aid consignments were cleared for Afghanistan, though a new round of talks between Pakistan and Afghanistan failed to yield a deal, according to officials.

On the fiscal front, Pakistan's external debt-to-GDP ratio dropped to 26% for the fiscal year 2025, and the cabinet approved tax exemptions for a $1 billion Panda Bond issuance. Additionally, an action plan for IMF's anti-corruption measures is set to be finalized by the end of the month.

Other significant developments include a meeting on a new revenue-sharing plan and the announcement that the Pakistan International Airlines will be auctioned on December 23. Meanwhile, Sindh's share in national cotton ginning output soared to 51%.

As the government and oil sector continue to navigate a tracking system disagreement, the OICCI reported a 22% rise in business confidence, and the USF approved Rs13 billion in new telecom projects. Furthermore, KE and DP World have partnered to establish a grid station at QICT, signaling ongoing infrastructure developments.