Weekly Market Roundup

September 19, 2026 (MLN): The benchmark KSE-100 Index closed the week at 170,884.59 points, gaining 372.73 points or 0.22% on a week-on-week basis from 170,511.86 points recorded on September 11, 2026.

The weekly gain was supported by improved investor sentiment following a moderation in global crude oil prices, easing concerns over potential supply disruptions, and growing expectations of renewed diplomatic engagement between the US and Iran.

The decline in oil prices and reduced supply-side risks provided some relief to market participants, while hopes for de-escalation in regional tensions encouraged risk-taking and triggered buying interest across the Pakistan Stock Exchange.

Market Capitalization

The Pakistan Stock Exchange's market capitalization increased to Rs4.815 trillion during the week, compared with Rs4.808 trillion on September 11, 2026, registering an increase of approximately Rs6.46bn, or 0.13% WoW.

In dollar terms, market capitalization rose from $17.338bn to $17.366bn, increasing by approximately $27.71 million, or 0.16% WoW.

The market's USD-adjusted return stood at 0.24%, compared with -2.72% in the previous week, reflecting a recovery in the benchmark after accounting for currency movements.

On the macroeconomic front, Pakistan’s REER rose marginally to 107.92 in August 2026, up 0.02% MoM and 7.71% YoY, showing a relative strengthening of the rupee in real terms. Meanwhile, NEER declined 0.79% MoM to 38.02, while the rupee appreciated 0.12% MoM against the US dollar.

Pakistan’s LSMI output grew 3.03% YoY and 9.51% MoM in July 2026, marking the first month of FY27, with automobiles and garments driving growth, while pharmaceuticals and iron and steel weighed on overall output.

Pakistan’s current account deficit narrowed 78% MoM to $98 million in August 2026, supported by robust remittance inflows of $3.66bn. However, the goods and services trade deficit widened 13.2% YoY to $6.75bn during the first two months of FY27.

Pakistan’s passenger car sales rose 36.4% YoY to 13,717 units in August 2026, taking 2MFY27 sales to 30,933 units, up 79.9% YoY. However, monthly sales declined 20.3% from July, while jeeps and pickups fell 53.9% YoY.

Pakistan’s MPC kept the policy rate unchanged at 11.5%, with seven of 10 members supporting the decision, while maintaining the FY27 GDP growth projection at 3.5–4.5%. The Committee expects inflation to gradually ease toward the upper end of the 5–7% target range by June 2027, though risks have increased.

Index Movers

Sector-wise performance was mixed during the week. Oil & Gas Exploration Companies provided the largest support to the KSE-100 Index at 298.86 points, followed by Commercial Banks at 213.58 points, Miscellaneous at 211.26 points,

Cement at 131.96 points, Pharmaceuticals at 50.59 points, Synthetic & Rayon at 20.96 points, Power Generation & Distribution at 13.41 points, Property at 12.93 points, Tobacco at 10.10 points, Cable & Electrical Goods at 9.57 points,

Transport at 5.14 points, Engineering at 4.54 points, Insurance at 4.18 points, Sugar & Allied Industries at 2.69 points, Vanaspati & Allied Industries at 0.87 points, Textile Weaving at 0.64 points, Woollen at 0.51 points, and Leasing Companies at 0.12 points.

On the downside, Automobile Assembler emerged as the largest drag on the index at 153.62 points, followed by Fertilizer at 113.45 points, Technology & Communication at 109.05 points, Inv. Banks / Inv. Cos. / Securities Cos. at 62.79 points,

Oil & Gas Marketing Companies at 35.93 points, Leather & Tanneries at 31.75 points, Glass & Ceramics at 21.56 points, Food & Personal Care Products at 20.82 points, Textile Composite at 16.13 points, Automobile Parts & Accessories at 14.99 points,

Paper, Board & Packaging at 12.74 points, Chemical at 11.52 points, Real Estate Investment Trust at 11.30 points, Close-End Mutual Fund at 2.35 points, Modarabas at 0.63 points, Refinery at 0.34 points, and Textile Spinning at 0.18 points.

Among individual stocks, PPL emerged as the largest positive contributor to the index, adding 236.17 points, followed by PSEL at 224.70 points, UBL at 123.63 points, POL at 118.21 points, BAFL at 98.71 points, MCB at 75.54 points, LUCK at 67.46 points, FABL at 54.47 points, BAHL at 50.31 points, and FCCL at 49.06 points.

Other major positive contributors included GLAXO at 34.17 points, AKBL at 25.62 points, IBFL at 20.96 points, CPHL at 17.43 points, DGKC at 17.28 points, CHCC at 15.31 points, AIRLINK at 13.64 points, JVDC at 12.93 points,

POWER at 11.88 points, MUREB at 10.27 points, PAKT at 10.10 points, PAEL at 9.57 points, KTML at 8.79 points, KAPCO at 8.26 points, HBL at 8.24 points, MARI at 7.80 points, NPL at 6.64 points, UPFL at 5.29 points, PIBTL at 5.14 points,

ABOT at 4.36 points, AICL at 4.18 points, SCBPL at 4.12 points, INIL at 3.98 points, AHCL at 3.37 points, INDU at 3.16 points, SSGC at 2.87 points, HINOON at 2.79 points, JDWS at 2.69 points, TRG at 2.65 points, HCAR at 1.63 points, HUBC at 1.42 points,

MEHT at 1.31 points, HALEON at 1.08 points, KOHC at 1.06 points, SSOM at 0.87 points, YOUW at 0.64 points, ABL at 0.57 points, ISL at 0.55 points, BNWM at 0.51 points, FFL at 0.36 points, ATRL at 0.14 points, and PGLC at 0.12 points.

On the downside, NBP was the biggest drag on the benchmark, erasing 179.45 points, followed by PTC at 67.96 points, FFC at 65.54 points, OGDC at 63.31 points, GHNI at 58.86 points, SYS at 54.01 points, GAL at 41.33 points, SAZEW at 41.07 points, ENGROH at 35.17 points, and SRVI at 31.75 points.

Other major negative contributors included FATIMA at 30.61 points, PSX at 27.61 points, BOP at 25.94 points, MEBL at 21.25 points, PSO at 20.69 points, EFERT at 20.66 points, NATF at 19.14 points, BWCL at 17.50 points,

TGL at 16.36 points, SNGP at 16.00 points, MTL at 15.54 points, THALL at 14.99 points, COLG at 13.21 points, PKGS at 12.74 points, MLCF at 10.66 points, LCI at 10.45 points, PABC at 8.80 points, DCR at 7.89 points, AGP at 6.96 points, SHFA at 4.64 points,

NESTLE at 3.56 points, TPLRF1 at 3.42 points, HUMNL at 3.38 points, KEL at 2.92 points, HGFA at 2.35 points, SEARL at 2.28 points, APL at 2.11 points, PIOC at 1.93 points, ATLH at 1.61 points,

NML at 1.49 points, LOTCHEM at 1.07 points, HMB at 0.99 points, RMPL at 0.84 points, FHAM at 0.63 points, CNERGY at 0.48 points, and GADT at 0.18 points.

FIPI/LIPI

Foreign investors remained net sellers during the week, recording net equity sales of $3.36m. The selling was primarily driven by Foreign Corporates, which offloaded equities worth $5.26m, while Overseas Pakistanis recorded net equity purchases of $1.90m. Foreign Individuals recorded net equity purchases of $2,239.

Including debt flows, foreign investors recorded a net outflow of $3.36m, with Overseas Pakistanis recording net debt sales of $16.

On the local side, investors remained net buyers in the equity market, recording net purchases of Rs930.57m ($3.36m).

Individuals emerged as the largest local equity buyers, with net purchases of Rs3.05bn ($10.99m), followed by Banks/DFIs with Rs718.64m ($2.59m), Insurance Companies with Rs489.88m ($1.77m), Other Organizations with Rs456.33m ($1.65m) and Companies with Rs204.98m ($739,986).

Meanwhile, Mutual Funds remained the largest local equity sellers, with net sales of Rs3.52bn ($12.72m), followed by Broker Proprietary Trading with Rs433.97m ($1.57m) and NBFCs with Rs27.87m ($100,632).

In the debt market, Mutual Funds remained significant net buyers with Rs21.92bn, followed by Other Organizations with Rs3.56bn and Insurance Companies with Rs523.45m. Banks/DFIs recorded net debt sales of Rs25.96bn, while Broker Proprietary Trading posted net sales of Rs542,893 and Companies recorded net debt sales of Rs50.72m.

Overall, local investors recorded a net purchase of Rs930.58m ($3.36m) across equity and debt markets.

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