Karachi: The KSE-100 Index experienced a significant decline yesterday, losing 1,464 points to close at 179,847. The trading volume reached 843 million shares, with notable price changes observed in companies such as IBFL, PGLC, and GADT. Meanwhile, the stocks of KOHC, BOP, and AICL were identified as the top decliners. The trading activity was primarily concentrated in the refinery, power, and foods sectors.

According to Taurus Securities Limited, the market downturn occurred amidst various economic developments. Key news included the approval of the outsourcing and sell-off of two Discos, discussions between China and Pakistan to advance B2B and industrial cooperation, and the government's decision to revive, rather than liquidate, Pakistan Steel Mills. Additionally, President approved several critical economic bills and summaries, while the FBR hinted at withdrawing the super tax. The IMF mission is expected to arrive next month, and the country's government debt stock saw a rise of Rs5.7 trillion in FY26.

In related economic news, oil prices settled up, and Dubai crude surged by 10 percent, posing challenges to Pakistan's fuel prices. The prices of petrol decreased by Rs1.70, while high-speed diesel saw an increase of Rs1.39. The global food inflation risks and the potential impact on Pakistan were also highlighted. In the automotive sector, auto sales hit 18,818 units in July, and Rs20 billion was raised via 10 IPOs in the first half of 2026. The PSMA issued a third warning for export, and Attock Cement explored a potential merger with Fauji Cement.