The Karachi Stock Exchange (KSE-100) index experienced a significant downturn today, losing 938 points to close at 112,801, with a trading volume of 455 million shares. The price change spotlighted top performers SCBPL, TGL, and KTML, while CHCC, ABOT, and PIOC saw notable declines.

According to Taurus Securities Limited, the day’s trading activity was predominantly centered in the foods, cements, and technology sectors. The state of the market reflects ongoing consultations before the ‘Uraan’ project takeoff and an anticipated visit by the IMF mission in March, hinting at economic and governance evaluations.

Other developments include Pakistan and Turkiye’s ambitions for a $5 billion trade partnership, as well as governmental efforts to alleviate the financial load on the salaried class in the forthcoming budget. The SECP’s recent changes to the Futures Exchanges rules and the CDWP’s approval of 14 projects across energy, education, and industrial sectors are expected to shape the market dynamics in the coming months.