Karachi: The KSE-100 Index experienced a significant decline, losing 6,042 points to close at 182,338, with a substantial volume of 926 million shares traded. The day's trading saw top price gains in MEHT, PKGS, and RMPL, while FFC, PTC, and ILP were among the top decliners. The trading activity was predominantly concentrated in the Power, Technology, and Banking sectors.

According to Taurus Securities Limited, the broad market movements coincide with a series of national and economic developments, including Pakistan's strategic opposition to the use of force against Iran and major steps taken towards attracting investors. The government is setting ambitious economic goals, such as the URAAN initiative to transform Pakistan into a USD1 trillion economy by 2035, amidst other significant decisions like the extension of the CPEC to Afghanistan and the upcoming 5G auction slated for March 10.

As the market absorbs these developments, the Prime Minister is expected to engage with exporters and discuss plans for the national airline PIA's future under new leadership. Meanwhile, the Federal Board of Revenue has begun issuing recovery notices related to the super tax, and other fiscal measures, such as potential petrol tax hikes, are being considered to manage economic challenges.