Karachi: The KSE-100 Index experienced a significant drop, losing 1,693 points to close at 173,636, with a total of 677 million shares traded. This decline was marked by notable performance in stocks such as PSEL, AICL, and AKBL, whereas CNERGY, THALL, and PGLC were the top decliners. Trading activity was primarily concentrated in investment companies, the refinery sector, and technology.

According to Taurus Securities Limited, the market's downturn coincides with broader regional and economic developments. In the energy sector, oil prices saw an upward trend due to concerns over prolonged Middle East conflicts potentially affecting supply. This development comes as global energy dynamics shift, with Iran highlighting vulnerabilities in U.S. energy company facilities and the UAE considering alternative routes for oil exports. Meanwhile, domestic economic measures such as the increase in petrol prices by Rs12.90 and high-speed diesel by Rs3.72 are influencing local market conditions.