Karachi: The KSE-100 Index experienced a significant decline, shedding 1,113 points to settle at 181,456, with a total of 818 million shares changing hands. The decline was led by notable drops in shares such as IBFL, SAZEW, and PGLC. Conversely, ATLH, JVDC, and PKGS witnessed notable price increases amid active trading in the Technology, Power, and OMC sectors.

According to Taurus Securities Limited, the market activity was heavily concentrated in the Technology, Power, and Oil Marketing Companies (OMCs) sectors. The index's downturn was marked by a broad sell-off, reflecting investor concerns over ongoing geopolitical tensions and economic policies.

In related developments, various Middle Eastern nations, including Saudi Arabia, Qatar, Turkiye, and Oman, have urged former U.S. President Donald Trump to avoid military action against Iran. Meanwhile, economic indicators reveal that the central bank's foreign exchange reserves have increased by $16 million to a total of $16.1 billion. Additionally, the government has decided to keep petrol and diesel prices unchanged for the next fortnight, despite increasing levies on other petroleum products.

The government continues to engage in discussions with Saudi Arabia for increased oil flows, while it seeks lower interest rates on $2.5 billion of debt. Moreover, the government has approved uplift projects valued at Rs117 billion, and talks are ongoing regarding tariff cuts to be implemented over the next five years.