Market Ends Lower as PSX Faces Tariff and Rollover Pressure

The Pakistan Stock Exchange came under pressure on Tuesday, ending in the red as contract rollovers and policy concerns unsettled investors.

The KSE-100 index started on a positive note, briefly touching 149,453 points, but gave up gains to close at 148,435, down 380 points or 0.26%. Market participants cited uncertainty over possible hikes in industrial gas tariffs and regional tensions as key triggers for selling.

According to Ahsan Mehanti of Arif Habib Corp, the combination of futures rollover, sluggish global equities, and a drop in international oil prices created a negative tone. He said investors remained cautious as policy decisions on energy pricing could impact corporate earnings.

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Topline Securities highlighted that despite some support from Fauji Fertiliser, Hub Power, and Pakistan Oilfields, which together added 295 points, losses in Engro Holdings, Habib Bank, MCB Bank, Meezan Bank, and Bank AL Habib wiped out those gains, dragging the market lower.

Volumes also reflected a cautious mood, with total turnover slipping to 665.4 million shares from 693.3 million a day earlier. In contrast, the value of traded shares increased to Rs31.5 billion, reflecting interest in select stocks. Out of 479 traded companies, 196 ended higher, 256 fell, and 27 remained unchanged.

First Dawood Properties was the most active stock with 40.2 million shares changing hands, closing one rupee lower at Rs7.43.