Karachi: The KSE-100 Index experienced a significant decline, losing 736 points to close at 164,531. The market observed a trading volume of approximately 1,568 million shares. The top performers by price change included PTC, PSEL, and SEARL, while SSOM, KEL, and ISL emerged as the major decliners.

Trading activity was predominantly concentrated in sectors such as Technology, Power, and Investment Companies. The widespread participation in these sectors reflects the ongoing interest and dynamic shifts in market trends.

In other developments, the State Bank of Pakistan's reserves have increased to $14.42 billion, despite the repayment of a $500 million eurobond. Additionally, the Pakistan Revenue Authority's tax collection from July to September showed a 28% rise year-on-year, reaching Rs66.41 billion.

The market also observed potential regulatory changes, including the Federal Board of Revenue's plan to make civil servants' assets public. Meanwhile, two specific Memorandums of Understanding related to K-Electric were signed, suggesting further developments in the power sector.

These developments occur amidst a backdrop of international and domestic headlines, including a reported explosion in Kabul, ongoing geopolitical negotiations in the Middle East, and Pakistan's government making strides towards an IMF deal.