Weekly Market Roundup

September 12, 2026 (MLN): The benchmark KSE-100 Index closed the week at 170,511.86 points, losing 4,816.96 points or 2.75% on a week-on-week basis from 175,328.82 points recorded on September 04, 2026.

Investor sentiment remained under pressure during the week as renewed US-Iran military confrontation pushed crude oil prices higher and intensified concerns over potential disruptions to Middle Eastern energy supplies.

Escalating attacks along key shipping routes, coupled with Houthi strikes targeting Saudi energy infrastructure, further heightened fears of supply disruptions and kept global oil prices elevated.

The impact also extended to the domestic front, with higher fuel prices adding to market concerns. However, Moody’s noted that Pakistan has so far absorbed the impact of the current conflict better than the 2022 crisis, supported by improved macroeconomic indicators.

Market Capitalization

The Pakistan Stock Exchange's market capitalization remained unchanged at Rs4.947 trillion during the week, compared with Rs4.947tr on September 04, 2026.

In dollar terms, market capitalization declined from $17.834bn to $17.338bn, registering a decrease of approximately $495.65 million, or 2.78% WoW.

The market's USD-adjusted return stood at -2.72%, compared with -1.30% in the previous week, showing a further decline in the benchmark after accounting for currency movements.

On the macroeconomic front, Pakistan’s workers’ remittances rose 16.5% YoY to $3.66bn in August 2026, up 0.7% MoM, taking two-month inflows to $7.28bn. Saudi Arabia remained the largest source at $873.5m, followed by the UAE at $749.8m and the UK at $563.7m.

Pakistan’s government domestic debt and liabilities rose 7.61% YoY to Rs59.41tr in July 2026, despite easing 0.28% MoM. Floating debt surged 23.95% YoY to Rs10.82tr, led by higher T-bill borrowing.

Pakistan’s central government debt rose 6.58% YoY to Rs83.38tr in July 2026, despite falling 0.31% MoM. Domestic debt increased 7.79% YoY to Rs59.27tr, led by a 23.95% surge in short-term debt.

National Savings Schemes mobilized a net Rs53.2bn in July 2026, up sharply from Rs23.6bn in June and surpassing every monthly inflow recorded in FY2025-26. The strong start was led by the “Others” category, which contributed Rs34.3bn.

Index Movers

Sector-wise performance remained broadly negative during the week, with Commercial Banks recording the largest drag on the KSE-100 Index at 1,604.82 points, followed by Cement at 732.28 points, Oil & Gas Exploration Companies at 575.28 points, Fertilizer at 285.71 points, Inv. Banks / Inv. Cos. / Securities Cos. at 254.08 points, and Technology & Communication at 225.17 points.

Other major sectors weighing on the index included Oil & Gas Marketing Companies at 216.07 points, Automobile Assembler at 185.77 points, Power Generation & Distribution at 184.41 points,

Pharmaceuticals at 159.27 points, Textile Composite at 109.10 points, Food & Personal Care Products at 77.24 points, Leather & Tanneries at 72.86 points,

Refinery at 65.52 points, Engineering at 54.76 points, Automobile Parts & Accessories at 47.51 points, Cable & Electrical Goods at 45.56 points, Property at 37.81 points, Transport at 33.91 points, Glass & Ceramics at 31.89 points, Tobacco at 24.55 points, Paper, Board & Packaging at 22.97 points, Real Estate Investment Trust at 20.73 points,

Chemical at 13.07 points, Synthetic & Rayon at 9.18 points, Sugar & Allied Industries at 5.40 points, Close-End Mutual Fund at 5.27 points, Modarabas at 4.38 points, Textile Spinning at 4.18 points, Vanaspati & Allied Industries at 1.13 points, Textile Weaving at 1.13 points, Leasing Companies at 0.93 points, and Woollen at 0.54 points.

On the positive side, Miscellaneous provided the largest support at 246.95 points, followed by Insurance at 48.54 points.

Among individual stocks, PSEL emerged as the largest positive contributor to the index, adding 282.79 points, followed by AICL at 48.54 points and LCI at 7.06 points.

On the downside, UBL was the biggest drag on the benchmark, erasing 475.29 points, followed by LUCK at 256.09 points, HBL at 229.45 points, ENGROH at 214.53 points, BAHL at 205.67 points, PPL at 200.05 points, FFC at 189.07 points, OGDC at 182.24 points, MEBL at 181.43 points, and HUBC at 126.93 points.

Other major negative contributors included MARI at 126.75 points, CHCC at 124.03 points, SYS at 116.79 points, NBP at 113.92 points, MCB at 108.05 points, PSO at 104.60 points, MLCF at 101.27 points, DGKC at 98.39 points, BOP at 76.44 points, SRVI at 72.86 points, POL at 66.24 points, ILP at 63.02 points,

FABL at 59.70 points, BWCL at 58.11 points, SNGP at 56.48 points, FCCL at 52.94 points, BAFL at 52.84 points, GHNI at 52.65 points, TRG at 51.90 points, CNERGY at 48.19 points, THALL at 47.51 points, SEARL at 46.81 points, PAEL at 45.56 points, SSGC at 45.50 points, ISL at 42.43 points, GAL at 42.10 points,

AKBL at 40.40 points, PSX at 39.55 points, FATIMA at 39.43 points, HMB at 37.95 points, JVDC at 37.81 points, NML at 37.13 points, EFERT at 37.03 points, PIBTL at 33.91 points, INDU at 32.59 points, and SHFA at 32.33 points.

FIPI/LIPI

Foreign investors remained net sellers during the week, recording net equity sales of $7.17m.

The selling was primarily driven by Foreign Corporates, which offloaded equities worth $5.60m, while Overseas Pakistanis recorded net equity sales of $1.53m. Foreign Individuals also remained net sellers with equity sales of $29,196.

Including debt flows, foreign investors recorded a net outflow of $6.99m, with Overseas Pakistanis recording net debt purchases of $180,002.

On the local side, investors remained net buyers in the equity market, recording net purchases of Rs1.99bn ($7.17m).

Individuals emerged as the largest local buyers, with net equity purchases of Rs3.00bn ($10.82m), followed by Companies with Rs1.51bn ($5.45m) and Insurance Companies with Rs334.47m ($1.21m).

Meanwhile, Broker Proprietary Trading remained the largest local equity seller, with net sales of Rs786.49m ($2.84m), followed by Mutual Funds with Rs1.47bn ($5.31m) and Banks/DFIs with Rs455.19m ($1.64m).

In the debt market, Mutual Funds remained significant net buyers with Rs16.50bn, while Banks/DFIs recorded net sales of Rs13.89bn. Insurance Companies posted net debt sales of Rs3.01bn, while Companies recorded net purchases of Rs369.99m.

Overall, local investors recorded a net purchase of Rs1.94bn ($6.99m) across equity and debt markets.

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