Karachi: The KSE-100 Index experienced a downturn, losing 463 points to settle at 120,003 with a trading volume of 598 million shares. This decline comes amid a mixed performance across various sectors, particularly in technology, investment companies, and oil marketing companies (OMCs).

The stock performance varied, with YOUW, HMB, and NPL seeing the most significant price increases. In contrast, PKGP, AGL, and IBFL were among the top decliners for the day.

In other developments, the government highlighted potential risks to budgetary targets, while the Senate Committee approved additional electricity bill surcharges for the fiscal year 2026. The government is also considering importing sugar following recent exports.

On the international front, Pakistan is engaging in discussions to attract Russian investment in the mining sector and has proposed a corridor linking Kazakhstan and Uzbekistan dry ports with Pakistani seaports.

Additionally, the country is gearing up for an electric vehicle (EV) boom, with a newly launched National Electric Vehicle Policy for 2025-30, aiming to fund subsidies through new car levies. The Prime Minister has also initiated a campaign to eradicate the black market.

Despite these efforts, the textile sector continues to face challenges due to ongoing cotton issues, impacting exports. Meanwhile, the foreign exchange reserves have crossed the $17 billion mark, indicating a stable financial outlook.