Karachi: The KSE-100 Index experienced a significant decline, losing 718 points to close at 171,021, with a trading volume of 573 million shares. Key performers by price change included PGLC, AICL, and TRG, while top decliners were IBFL, LOTCHEM, and TGL. Trading activity was primarily concentrated in the refinery, technology, and investment companies sectors.

According to Taurus Securities Limited, the market's downturn was a focal point amid broader economic developments in the region. Among other significant updates, Iran announced a halt to Middle East attacks as the United States refrained from military actions, and progress was reported in talks held in Oman regarding the management of the Hormuz Strait. In Pakistan, discussions took place between Finance Minister Ishaq Dar and the Saudi Foreign Minister on regional developments, while the first phase of the AJK polls commenced.

The economic landscape also saw economists urging the State Bank of Pakistan to maintain its rate at 11.5%, amidst challenges such as a 10% tariff on Pakistani goods entering the U.S. market, and a sharp decline in exports to key markets in June. Additionally, the government accelerated reforms within the Federal Board of Revenue and efforts towards a cashless economy.