Karachi: The KSE-100 Index experienced a sharp decline, losing 2,321 points to close at 175,803, with a substantial volume of 618 million shares traded. The most significant price changes were noted in HGFA, CNERGY, and PGLC, while LOTCHEM, AICL, and KTML emerged as the top decliners. Trading activity was predominantly focused in the Refinery, Property, and Technology sectors.

According to Taurus Securities Limited, the broader economic indicators also presented a mixed picture. The country's current account slipped into a $139 million deficit for FY26, while the fiscal deficit was maintained at 1.6 percent of GDP over the first 11 months of the fiscal year. Foreign direct investment saw a decline of 34 percent during the same period.

In other economic developments, oil prices surged over 4 percent, and the government announced an increase in petrol and diesel prices by Rs5.44 and Rs31.05 per liter, respectively, for the next three days. The government also stated that it would review petroleum prices on a daily basis, a decision it defended amid rising global oil prices.

The news comes as a high-level Iranian delegation is set to arrive in Islamabad, while Pakistan-Iran trade potential is projected to reach $10 billion, according to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Meanwhile, the government continues to weigh fuel-saving plans and cuts returns on National Savings schemes.

In the banking sector, auto financing surged by 38 percent to Rs382 billion, while IT exports hit a record $4.6 billion. However, power generation dropped by 2.5 percent in June, and the State Bank of Pakistan issued cautious guidelines on start-ups.