Karachi: The KSE-100 Index experienced a significant decline, dropping by 1,505 points to close at 120,466, with a total of 704 million shares traded. The market activity was primarily concentrated in sectors such as Technology, Investment Companies, and Modarabas.

Despite the overall downturn, the top performers in terms of price change included BNWM, AGL, and PABC. Conversely, PKGP, INDU, and POML emerged as the top decliners, reflecting the market's volatile nature.

In a separate development, Pakistan has signed a $1 billion five-year multi-tranche facility with the Asian Development Bank, signaling a strategic move to bolster the country's financial health. Meanwhile, the Ministry of Finance successfully raised over Rs1.2 trillion through a major government bond auction, further contributing to fiscal stability.

Amid ongoing international tensions, a looming LPG shortage is anticipated in Pakistan due to supply disruptions from the Iran-Israel conflict, which may lead to a spike in prices.

In the realm of policy adjustments, the government announced a reduction in GST on imported solar panel components to 10%, and withdrew a proposed 18% sales tax hike on hybrid cars, aiming to alleviate financial burdens on consumers.

As the nation navigates these economic challenges, efforts are underway to enhance financial inclusion, with a reported increase to 35%. The government also unveiled a national tariff policy for 2025-30, emphasizing industrial competitiveness to drive economic growth.