Karachi: The KSE-100 Index experienced a significant decline, shedding 2,063 points to close at 160,101, with trading volumes reaching 1,017 million shares. This downturn marked a volatile day in the market, with considerable activity concentrated in the technology, investment companies, and banking sectors.

In terms of performance, SRVI, PSEL, and LUCK emerged as the top performers based on price changes. Conversely, TGL, GHGL, and PKGP were the most significant decliners. The fluctuations in these stocks contributed to the overall market downturn.

The trading session's focus on specific sectors reflected broader economic themes, as the market grappled with various external and internal pressures.

In other economic news, the World Bank reported a decline in poverty levels; however, it noted that there has been no corresponding improvement in living standards. Additionally, Pakistan's exports as a share of GDP are reportedly shrinking, while the government is aiming to boost meat exports.

Inflation remains a concern, with potential for further increases. Moreover, the country's real GDP growth is now expected to stay at 3 percent.

Pakistan and Saudi Arabia have agreed to launch an Economic Cooperation Framework, signaling ongoing diplomatic and economic collaborations. Meanwhile, significant developments in the energy sector are underway, with the Competition Commission of Pakistan set to conduct a study on the challenges facing solar energy uptake.

As the economic landscape continues to evolve, stakeholders remain attentive to the various factors impacting the market and broader economic conditions.