Karachi: The KSE-100 Index experienced a significant decline, losing 1,139 points to close at 167,442, with a total of 364 million shares traded. The day's trading saw notable activity in the power, refinery, and technology sectors. LOTCHEM, HGFA, and PSO emerged as the top performers in terms of price change, while YOUW, BML, and INIL were the leading decliners.

According to Taurus Securities Limited, the market's activity was primarily centered around certain key sectors. The power, refinery, and technology sectors drew the most attention from investors, reflecting a focused trading pattern. Despite some stocks performing well, the overall market sentiment led to a substantial drop in the index.

The sharp decline in the KSE-100 Index comes amidst a backdrop of various economic and political developments. Other key news includes the government's announcement of a petrol price hike by Rs2.31, an increase in the power tariff by Rs1.11, and a rise in State Bank reserves by $15 million. Additionally, the Economic Coordination Committee has raised the duty on tyre and bike parts imports.

As the market adjusts to these changes, investors and analysts are closely monitoring the impact of economic policies and global market trends on the local stock market.