Karachi: The KSE-100 index experienced a significant decline, dropping 755 points to close at 116,020, with an active trading volume of 481 million shares. The companies showing the most notable price gains included PGLC, POML, and ATLH, while IBFL, INIL, and JVDC led the decliners. Most trading activity was concentrated in the food, refinery, and banking sectors.

In broader economic news, the World Trade Organization (WTO) has revised its trade growth forecast for 2025, signaling a potential for deeper economic challenges ahead. Meanwhile, the Roshan Digital Account reported inflows reaching $235 million in March, with total contributions surpassing the $10 billion mark.

Reko Diq shareholders have approved the latest feasibility study, marking a significant step forward for the project, while Kuwait has agreed to extend its oil credit facility to Pakistan for an additional two years.

In fiscal developments, the government has successfully raised Rs965 billion through the auction of treasury bills. The power generation sector saw a 5% increase in March, despite continued challenges in the energy market.

In the finance sector, UBL announced a record profit of Rs36.1 billion for the first quarter of the calendar year 2025, pointing to strong financial performance amidst economic uncertainties.

The Attock Refinery confirmed a temporary shutdown of a 5,000 barrels per day unit, which may impact the refinery's short-term output. Additionally, the auto financing sector noted an increase to Rs257.36 billion in March, despite high interest rates and pricing pressures.

The government has turned down a proposal for additional freight charges, and the privatization of Pakistan International Airlines (PIA) has been delayed once again. Meanwhile, wheat farmers have been offered Rs15 billion in aid, providing some relief to the agricultural sector.

Overall, these developments reflect a complex economic landscape, with sectors experiencing both growth and challenges.