Karachi: The KSE-100 Index witnessed a decline of 481 points, closing at 168,155, with 492 million shares traded. Activity was primarily concentrated in the Technology, Textile Composite, and Investment Companies sectors. The top performers by price change were AICL, SRVI, and SHFA, while the top decliners included FHAM, TPLRF1, and PIBTL.

According to Taurus Securities Limited, the market activity reflects ongoing shifts in key industries, with significant trading concentrated in technology and textile sectors. This comes amid a broader backdrop of economic challenges, including a widening trade gap, surging inflation, and government efforts to manage energy supplies and power arrears. The State Bank of Pakistan has also taken measures to support economic stability, allowing banks to process sugar export cases and notifying lower sales tax rates for steel units. Meanwhile, the local automotive industry is expressing concern over the rise in used car imports.

The government, facing pressure from increasing deficits and energy supply issues, has raised petrol and high-speed diesel prices while maintaining a tight monetary policy. Additionally, the country is engaged in discussions with the International Monetary Fund to finalize a draft Memorandum of Financial and Economic Policies. Despite these challenges, Pakistan has managed to secure additional rice export deals and witness a slight increase in cotton arrivals.