The Pakistan Stock Exchange (PSX) closed lower on Tuesday amid ongoing contract rollover pressure on investors. The KSE-100 index remained volatile, hitting intra-day high of 149,453 points, before coming significantly down to close at 148,435, a decrease of 380.24 points, or 0.26%.
Analysts mentioned that concerns over a proposed hike in industrial gas tariffs, alongside geopolitical uncertainty, played a key role in bearish activity at the bourse.
Read: PSX opens rollover week on turbulent note
Ahsan Mehanti of Arif Habib Corp commented that stocks closed lower, pressured by futures contract rollovers, sluggish global equities and falling international crude oil prices. A steady policy rate, concerns over a proposed hike in industrial gas tariffs and geopolitical uncertainty fueled the negative close at the PSX, he said.
In its market review, Topline Securities remarked that the KSE-100 index ended the trading session at 148,435, posting a decline of 380 points. The session was marked by notable intra-day volatility, with the index hitting the day’s high at 149,453, reflecting the ongoing rollover pressure.
Gains in Fauji Fertiliser, Hub Power and Pakistan Oilfields collectively contributed 295 points to the index. However, those gains were offset by losses in Engro Holdings, Bank AL Habib, Meezan Bank, MCB Bank and Habib Bank, which together pulled the KSE-100 down by 549 points, Topline noted.
Overall trading volumes decreased to 665.4 million shares compared with Monday’s tally of 693.3 million. Traded value rose to Rs31.5 billion compared to Rs26.3 billion in the previous session.
Read More: KSE-100 races to 150,000 — too fast, too soon?
Shares of 479 companies were traded. Of these, 196 stocks closed higher, 256 dropped and 27 remained unchanged. First Dawood Properties was the volume leader with trading in 40.2 million shares, falling one rupee to close at Rs7.43.
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