PSX stays jittery, index falls below 180,000-level

KARACHI – The Pakistan Stock Exchange (PSX) experienced another day of volatility on Tuesday as investors became increasingly jittery due to geopolitical tensions in the Middle East. The benchmark KSE-100 index slipped below the 180,000-point level, falling to 179,846.68 points, marking a decline of 1,463.60 points, or 0.81 per cent. The index reached an intraday high of 181,017 points but ultimately closed lower, with a trading range of 1,238 points.

Topline Securities Ltd noted that the PSX saw renewed selling pressure, with the index extending its decline due to heightened geopolitical uncertainty and profit-taking across major sectors. Market activity remained volatile throughout the day, as early gains failed to materialize amidst rising crude oil prices and the possibility of a near-term US-Iran agreement remaining uncertain.

Fauji Fertiliser, Lucky Cement, Engro Holdings, United Bank, and Bank Al-Habib were identified as the largest drag factors on the benchmark, collectively accounting for approximately 778 points of the index's decline. Ali Najib, deputy head of trading at Arif Habib Ltd, attributed the depressed investor sentiment to rising international oil prices, despite a positive opening.

The corporate sector also contributed to the downward trend, with Fauji Cement Company Ltd reporting a 21% increase in net earnings for FY26, reaching Rs16.2bn, and announcing a final cash dividend of Rs1.5 per share. Market activity weakened, with traded volume falling by 6.21% to 860 million shares, and total turnover decreasing by 13.26% to Rs38.86bn. Cnergyico PK led the volume chart with 133.9 million shares traded.

Analysts forecast that the PSX will remain volatile but broadly range-bound, with geopolitical developments likely to determine the next major movement in the market.