The Pakistan Stock Exchange (PSX) extended its downward trend on Tuesday, with the benchmark KSE-100 Index losing more than 1,460 points as selling pressure intensified across several heavyweight sectors, particularly cement, fertilizer, investment companies, oil & gas exploration and technology stocks.

Market sentiment remained subdued as international oil prices stayed near their highest levels in more than a week amid fading prospects for a US-Iran agreement. Concerns over continued disruption in the strategically important Strait of Hormuz kept geopolitical risks elevated, prompting investors to maintain a cautious stance and contributing to selling pressure in the local equity market.

The benchmark KSE-100 Index concluded Tuesday's trading session at 179,846.68, registering a decline of 1,463.60 points, or 0.81%, from the previous close.

The index remained under pressure throughout the session and traded within a range of 1,238.31 points. It touched an intraday high of 181,017.29, which was still 292.99 points below the previous close, before falling to an intraday low of 179,778.98, representing a decline of 1,531.30 points.

Trading activity in KSE-100 constituents remained active, with 370.24 million shares changing hands during the session. Market breadth was heavily tilted toward the negative side, reflecting widespread selling across index constituents.

Out of the 100 companies included in the benchmark index, only 17 stocks closed higher, while 80 ended in negative territory and three remained unchanged.

Among the day's worst-performing stocks, Kohat Cement Company Limited (KOHC) declined 3.34%, followed by Bank of Punjab (BOP) with a loss of 3.32%. Adamjee Insurance Company Limited (AICL) fell 3.08%, Attock Refinery Limited (ATRL) declined 2.85%, while Citi Pharma Limited (CPHL) closed 2.72% lower.

On the positive side, IBL Finance Limited (IBFL) emerged as the top performer with a gain of 10.00%. It was followed by Pakistan General Insurance Company Limited (PGLC) (+3.33%), Gadoon Textile Mills Limited (GADT) (+2.56%), Ghandhara Automobiles Limited (GAL) (+2.40%), and Habib Bank Limited (HBL) (+2.30%).

In terms of index-point contribution, Fauji Fertilizer Company Limited (FFC) exerted the largest negative impact on the benchmark, subtracting 256.95 points. Engro Holdings Limited (ENGROH) followed with a negative contribution of 163.18 points, while Lucky Cement Limited (LUCK) dragged the index down by 143.46 points.

Additional pressure came from United Bank Limited (UBL) and Bank AL Habib Limited (BAHL), which reduced the benchmark by 111.04 points and 103.25 points, respectively.

Despite the overall weakness, selected banking and energy stocks provided some support to the benchmark. Habib Bank Limited (HBL) emerged as the largest positive contributor, adding 155.29 points, while Meezan Bank Limited (MEBL) contributed 96.42 points.

Other notable positive contributors included Pakistan Oilfields Limited (POL) (+26.88 points), Habib Metropolitan Bank Limited (HMB) (+17.31 points), and IBL Finance Limited (IBFL) (+14.37 points).

Sector-wise, Cement was the largest drag on the KSE-100 Index, subtracting 294.75 points from the benchmark, while the Fertilizer sector followed closely with a negative contribution of 290.18 points.

Selling pressure was also visible in Investment Banks, Investment Companies & Securities Companies, which reduced the index by 173.19 points. Oil & Gas Exploration Companies contributed a negative 114.90 points, while Technology & Communication stocks shaved another 96.77 points off the benchmark.

Only a handful of sectors managed to provide support. Synthetic & Rayon added 14.37 points, followed by Miscellaneous (+9.31 points), Close-End Mutual Funds (+2.62 points), Textile Spinning (+2.54 points), and Leasing Companies (+0.17 points).

In the broader market, the All-Share Index also finished in negative territory, closing at 108,777.96, down 624.36 points, or 0.57%.

Overall market activity moderated compared with the previous session. Total market volume stood at 860.26 million shares, compared with 917.27 million shares traded in the preceding session. The total traded value declined by Rs5.94 billion to Rs38.86 billion.

A total of 466,231 trades were executed across 492 listed companies during the session. Market breadth in the broader market also remained firmly negative, with 147 stocks advancing, 311 declining, and 34 remaining unchanged.

Among the most actively traded stocks, Cnergyico PK Limited (CNERGY) dominated the volume chart with 133.91 million shares, closing at Rs12.84, down 2.21%.

K-Electric Limited (KEL) followed with 61.85 million shares, while HASCOLNC recorded turnover of 45.03 million shares. Unity Foods Limited (UNITY) saw 40.09 million shares change hands, while Pakistan Refinery Limited (PRL) recorded volume of 31.67 million shares.

Other heavily traded stocks included WorldCall Telecom Limited (WTL) with 28.28 million shares, BECO with 24.83 million shares, STPL with 24.36 million shares, Bank of Punjab (BOP) with 22.52 million shares, and PASLNC with 21.09 million shares.

Following Tuesday's decline, the KSE-100 Index has lost 455 points, or 0.25%, during the current fiscal year. However, the benchmark remains in positive territory on a calendar-year basis, having gained 5,792 points, or 3.33%, so far this year.