Pakistan stocks decline on institutional selling

The Pakistan Stock Exchange faced significant selling pressure throughout the day on Tuesday. Although concerns about restrictions on non-filers did contribute to market sentiment, they primarily impacted a small segment of investors.

The main stocks behind the market's decline were Mari Petroleum, Hub Power, Oil & Gas Development Company (OGDC), Lucky Cement, and Pakistan State Oil (PSO). These collectively led to a loss of 543 points.

Market analysts suggest that while the news regarding non-filers had some influence, the broader market trend was driven by sector-specific factors affecting these key stocks.

The benchmark KSE-100 index shed 0.69% or 802.56 points to close at 115,042.25 points.

Separately, India's stock market dropped on Tuesday because people were worried about what U.S. President Donald Trump might do. Right after taking office, Trump talked about putting tariffs on countries like Mexico and Canada.

This made investors in India nervous, as Trump had also mentioned during his campaign that he might impose tariffs on India, Brazil, and China.

The BSE-100 index lost 1.58% or 389.62 points to close at 24,204.93 points.

The DFM General Index gained 0.46% or 24.08 points to close at 5,220.26 points.

Commodities

Oil prices fell on Tuesday after U.S. President Donald Trump delayed new tariffs and aimed to boost domestic oil and gas production.

While no new trade measures were imposed immediately, federal agencies were directed to investigate unfair trade practices by other countries.

The initial tariff reprieve lowered oil prices, but potential duties on Canadian crude could eventually raise them. Additionally, a stronger U.S. dollar on Monday made oil pricier for other currency holders.

Brent crude prices declined 1.66% to $78.82 per barrel.

Gold tradesd positively for the second day this week, following Trump's confirmation of 25% tariffs on Canada, Mexico, silver, and gold, starting as early as February.

International gold prices increased 0.47% reaching $2,721.28 per ounce.

Currency

US dollar eased remained steady against PKR in the interbank market. The PKR shed 16 paisas to close at 278.81. In the open market, USD was trading at PKR 281.