Karachi: The Karachi Stock Exchange experienced a significant downturn as the KSE-100 Index fell by 6,683 points, closing at 172,170. The trading session saw a volume of 540 million shares exchanged, with notable activity in the technology, power, and banking sectors.

According to Taurus Securities Limited, the best-performing stocks based on price changes were INIL, FHAM, and PKGP, while SSOM, TRG, and PAEL emerged as the top decliners. This movement in the market comes amidst a backdrop of economic developments and geopolitical tensions impacting investor sentiment.

In related economic news, the government continues to address various financial challenges, including a recent decline in foreign exchange reserves by USD 73 million and a steady investment rate of 13.8% of GDP. Meanwhile, the Economic Coordination Committee has released Rs19 billion for a Ramazan relief package, aimed at providing support during the upcoming holy month.

Additionally, Pakistan has increased its investment in the Reko Diq project to $244 million as Barrick Gold Corporation reviews the project. In the energy sector, a surplus gas supply has been proposed for power and fertilizer sectors to sustain industrial activities. As the country prepares for the national rollout of 5G technology, auctions in Gilgit-Baltistan and Azad Jammu and Kashmir are expected to follow.

The stock market's performance is being closely monitored as these economic factors unfold, with stakeholders keenly observing the potential impacts on future market dynamics.