Karachi: The KSE-100 Index experienced a significant downturn, shedding 4,655 points to close at 158,443 after a trading session that saw 1,361.7 million shares change hands. Among the leading gainers were UNITY, PKGP, and SSOM, while the top decliners included PSEL, HGFA, and ISL. The day's trading activity was primarily focused on the power, technology, and banking sectors.

In other developments, international and local news events marked a busy day. Discussions surrounding tariffs imposed by former President Donald Trump on China cast a shadow over the ongoing IMF and World Bank meetings. Trump's recent Middle East visit has also led to a promise to resolve the Pakistan-Afghanistan dispute.

In a significant development for the Middle East, Trump declared the end of hostilities in Gaza, with Israel and Hamas engaging in a prisoner swap hailed as a "historic dawn."

In regional politics, tension remains high following a crackdown on TLP protesters in Muridke, and a planned visit by a Pakistani delegation to Kabul has been postponed. Meanwhile, Sohail Afridi of the PTI was elected as the chief minister of Khyber Pakhtunkhwa in a session marked by an opposition walkout.

Trade and economic activities between Pakistan and Afghanistan face disruptions due to recent border closures. Domestically, reviews of IMF programs continue, while discussions on early financial closure progress with Aurangzeb's agreement.

The energy sector faces challenges as PQEPC warned of a potential plant shutdown. In efforts to boost investment, the PBA and SIFC hosted Saudi business chiefs. The private sector is shifting focus towards debt repayment, reflected in a slowdown in borrowing.

In the business sector, a Pakistani conglomerate is eyeing expansion into the Gulf's $2.3 billion cheese market through a joint venture in Turkey. The National Bank of Pakistan has partnered with NAB to launch an online payment portal for fund transfers, while Thatta Cement has successfully completed a Rs5.5 billion sukuk transaction.