Karachi: In a significant downturn, the KSE-100 Index plunged by 3,500 points, closing at 152,011, with a total of 349 million shares traded. According to Taurus Securities Limited, the top-performing stocks based on price change included TRG, IBFL, and HCAR, while NPL, SEARL, and PAEL were among the top decliners. The trading activity was predominantly concentrated in the power, technology, and banking sectors.

This decline comes amidst a series of economic developments as detailed in a recent news snapshot. Pakistan's government announced a hike in petrol and diesel prices to Rs458 and Rs520 per liter, respectively, contributing to rising inflation. The country also reported a 22.65% increase in the trade deficit, reaching USD 27.8 billion over the past nine months. Despite these challenges, the economy grew by 3.89% in the second quarter of fiscal year 2026.

Additional economic measures were highlighted, including Pakistan's assurance to the International Monetary Fund (IMF) of its readiness to raise interest rates if necessary, as well as its efforts to negotiate flexibility in the IMF program due to the evolving geopolitical landscape amid tensions in Iran. Meanwhile, foreign reserves held by the State Bank of Pakistan rose slightly by $6 million, totaling $16.38 billion.

In other economic developments, Pakistan's total debt has surpassed the Rs 81.4 trillion mark. The government is focusing on tax reforms and export growth in its forthcoming budget. Discussions between Pakistan and the United States have also been held to explore economic cooperation and investment opportunities.

In the banking sector, the National Bank of Pakistan launched a WhatsApp banking service, while Meezan Bank is accelerating its shift towards cashless transactions. Additionally, major corporate activity includes the initiation of Attock Cement's takeover by Fauji Cement and KAPCO.