KARACHI: Renewed uncertainty surrounding the US-Iran conflict and fluctuations in global oil prices kept investors cautious at the Pakistan Stock Exchange (PSX) on Tuesday, as heavy selling outweighed gains in selected technology and energy counters.
The benchmark KSE-100 Index closed at 176,466.99, down 508.69 points, or 0.29 percent, from Monday’s close of 176,975.68. During the session, the index climbed to an intraday high of 177,800.28 before falling to a low of 176,375.01.
The BRIndex100 closed at 19,486.37, down 39.78 points, or 0.20 percent, from the previous close, with total trading volume of 657.73 million shares. The BRIndex30 fell 320.95 points, or 0.44 percent, to 72,079.90, compared with its previous level, while turnover stood at 454.77 million shares.
According to Topline Securities’ market review, trading remained highly volatile as the market moved between gains and losses amid uncertainty over the US-Iran conflict and its potential implications for global oil prices. At the same time, the refinery sector remained a major focus of investors, with significant activity and a sharp increase in traded volumes in several refinery stocks.
Market chatter that five refineries could sign their long-awaited upgradation agreements during the week further strengthened investor interest in the sector, making refinery stocks one of the most actively followed themes during Tuesday’s session.
The movement of heavyweight stocks reflected a clear divergence in investor positioning. Systems Limited (SYS), Engro Holdings (ENGROH), Fauji Fertilizer Company (EFERT), Oil & Gas Development Company (OGDC) and AGP were among the main positive contributors, collectively adding approximately 359 points to the benchmark.
Their contribution, however, was more than offset by selling in Meezan Bank (MEBL), MCB Bank (MCB), Bank Alfalah (BAFL) and Lucky Cement (LUCK), which collectively shaved approximately 294 points from the index.
Of 498 active companies, 174 advanced, 292 declined and 32 remained unchanged.
Ready market turnover, however, remained substantial at 784.47 million shares, valued at Rs37.41 billion. This represented a decline from the previous session, when 937.27 million shares worth Rs39.13 billion were traded.
In absolute terms, volume declined by approximately 152.80 million shares, while traded value fell by about Rs1.72 billion.
Market capitalization also contracted to Rs19.78 trillion, from Rs19.83 trillion in the preceding session, representing a decline of approximately Rs48.43 billion.
Cnergyico PK dominated ready-market trading, with 191.73 million shares changing hands. The stock closed at PKR 15.00, compared with the previous close of PKR 15.46.
Pak Refinery was the second-most traded stock with 58.15 million shares. It closed at Rs104.88, against the previous close of Rs104.42.
WorldCall Telecom recorded 40.78 million shares in turnover. It closed at Rs1.16, unchanged from the previous close of Rs1.16.
In the regular market’s individual price movements, PIA Holding Company Limited B recorded the largest absolute price gain, rising Rs102.00 to close at PKR 17,300.00. Buxly Paints Limited followed with a gain of Rs84.25, closing at Rs926.77.
On the losing side, The Thal Industries Corporation Limited recorded the largest absolute decline, falling Rs133.94 to Rs1,205.46, while Hoechst Pakistan Limited declined Rs37.17 to Rs4,042.76.
The BR Tech & Comm Index raised 22.80 points, or 0.65 percent, to 3,540.81, on turnover of 87.33 million shares. This was the strongest percentage gain among the BR sector indices reported for the session.
The BR Oil and Gas Index also edged higher, gaining 12.91 points, or 0.08 percent, to 15,383.12, with turnover of 40.72 million shares.
The BR Automobile Assembler Index advanced 61.40 points, or 0.26 percent, to 24,033.95, on turnover of 2.01 million shares.
In contrast, the BR Commercial Banks Index dropped 550.12 points, or 0.89 percent, to 61,451.15, with 43.79 million shares traded, making banking one of the major sources of sectoral weakness.
The BR Cement Index declined 96.36 points, or 0.78 percent, to 12,296.33, with turnover of 18.09 million shares, while the BR Power Generation and Distribution Index fell 58.93 points, or 0.22 percent, to 26,874.84, on turnover of 14.98 million shares.
Analysts say, with the market remaining sensitive to developments surrounding the US-Iran conflict, global crude prices and progress on refinery upgradation agreements, Tuesday’s trading underscored the elevated volatility and sector rotation prevailing at the PSX.
Copyright Business Recorder, 2026
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