Karachi: The KSE-100 Index experienced a significant decline yesterday, shedding 380 points to close at 148,435, with a total of 664 million shares traded. The day's trading activity was predominantly centered around the food, investment companies, and technology sectors.

JVDC, BWCL, and SCBPL led the market in terms of price increases, while BAHL, AGL, and GLAXO recorded the most significant declines. This downturn in the stock market coincides with broader economic challenges highlighted by the State Bank of Pakistan, which has projected lower growth and rising inflation due to currency pressures.

In related developments, the Economic Coordination Committee has approved a summary aimed at providing relief to power consumers, as businesses increasingly shy away from bank loans amidst economic uncertainty. Additionally, the recent sugar price crisis has been followed by a surge in flour prices, driven by rising wheat costs.

The government has called in the army as Punjab prepares for an impending catastrophe, while Balochistan is set to establish its own provincial bank. Meanwhile, the Board of Investment has noted a low turnout of Chinese companies for an upcoming business-to-business event.

The National Electric Power Regulatory Authority is working on a new 'single system operator' framework, and the Prime Minister has launched the New Energy Vehicle Policy 2025-30. Auto loans have reached a 25-month high in July, signaling increased consumer interest in the automotive sector.

In other news, Shell has introduced its V-Power fuel in Pakistan, and Sui Southern Gas Company has signed an agreement to digitize its risk management framework.