Pakistan Market Wrap: View from the Desk – By JS Research

Dec 5 2025

JS Global Capital

• PSX closed on a strong note as the KSE-100 Index gained 802 points to settle at 167,085, rebounding sharply after recent pressure. The index traded between166,369 and 167,923, showing resilience amid selective buying. Total volume stood at 687mn shares, indicating renewed investor participation. E&P and fertilizer sectors drove the rally, while sentiment remained supported by optimism over economic stability. The near-term outlook stays positive with potential testing of 168k resistance.

Pakistan Market Wrap: KSE-100 closes at 167,086 up 802 points – By Alpha-Akseer Research

Dec 5 2025

Alpha Capital

• The equity market opened on a strong footing and maintained momentum throughout the session. The KSE-100 Index recorded an intraday high of 167,923 and a low of 166,370, eventually closing at 167,086, up 802 points. Trading activity improved, with 225.6 million shares changing hands and an estimated PKR 28.4 billion in value.

• Key contributors to the index’s rise included FFC (1.1%, 175 points), PPL (3.2%, 153 points), OGDC (1.4%, 86 points), UBL (0.7%, 73 points), and SYS (1.4%, 64 points). On the volume front, PTC and CNERGY led the market with 26 million and 22.3 million shares traded, respectively.

Technical Outlook: KSE-100 Ends Week Strong, Maintains Bullish Trajectory – HMFS Research

Dec 5 2025

HMFS Research

• The KSE-100 index concluded the week on a positive note, gaining +802 points (+0.48%) on Friday. Despite heightened volatility throughout the week, the index successfully held above the key support level of 166,024, as highlighted in our earlier chart-based analysis.

• This resilience reinforces our technical outlook, with the market continuing to respect critical support zones amid fluctuating sentiment. The broader trend remains constructive, and we reiterate our year-end 2025 target of 176,336, implying a potential upside of 6% from current levels.

Pakistan Aluminium Beverage Cans Limited (PABC): Hit hardest by border closure; Reiterate Sell – By JS Research

Dec 5 2025

JS Global Capital

• Despite several rounds of talks mediated by Qatar and Turkiye, as well as a recent brief dialogue in Saudi Arabia, there has been no progress toward resuming trade between Pakistan and Afghanistan. We are now incorporating a three-month border closure, which reduces our CY25E EPS estimate for Pakistan Aluminium Beverage Can (PABC) by 16% to Rs17.39 and lowers our target price to Rs124 (down 5%).

• In its recent quarterly report, PABC highlighted its plans to construct a 1.3bn can plant in Afghanistan, with an expected project outlay of US$110mn and a construction timeline of 1.5–2 years. As Afghanistan is a landlocked country, the new project will depend on raw material imports through transit trade with Pakistan.

• We are closely monitoring developments related to Pak–Afghan border issues and PABC’s investment plans, and will revisit our estimates for the company accordingly. In the meantime, we reiterate our Sell rating on PABC. Our sensitivity analysis suggests that every one-month export suspension implies a 5% negative impact on our CY26E EPS for the company.

Technical Outlook: KSE-100: Low volumes given little price action – By AKD Research

Dec 5 2025

AKD Securities

• The index started the day on a strong note but became volatile as trading progressed, hitting an intraday high of 672 points and a low of 259 points. It ultimately closed with a modest gain of 138 points at 166,284. Market participation declined, with trading volumes falling by 35% compared to the previous session. Over the past 10 sessions, the market has seen 4 positive closes and 6 negative closes, resulting in a net of 2 negative sessions. Volume indicators show moderate inflows into the Index, reflecting a slightly bullish tone. Trend forecasting oscillators remain bullish and have maintained this stance for the past six sessions.

• Technically, the immediate support is seen at 165,800 and a breach below this could extend the decline toward 165,200 and 164,500. Conversely, resistance is expected around 166,800, followed by 167,500 and 168,100. It is recommended to accumulate positions on weakness with risk defined below support zone.

Morning News: Japan’s investment in Pakistan crosses USD1.3bn mark: envoy – By Vector Research

Dec 5 2025

Vector Securities

• Japan’s investment in Pakistan has crossed USD 1.3 billion, the Japanese Ambassador Akamatsu Shuichi said on Tuesday, highlighting over seven decades of diplomatic and economic relations between the two nations. (BR)

• In a major development on economic front, Kingdom of Saudi Arabia (KSA) has extended term for USD3.0 billion deposit placed with Pakistan for another year. (BR)

Pakistan Market Wrap: Market Shows Restraint Amid Volatile Intra-Day Swings – By HMFS Research

Dec 4 2025

HMFS Research

• The Pakistan Stock Exchange witnessed a lackluster session today, as the benchmark KSE-100 Index opened on a positive note but soon slipped into negative territory amid early selling pressure. The market later regained momentum and climbed as much as 692 points during intra-day trade. Sentiment stabilized further after Saudi Arabia extended its USD 3bn deposit for Pakistan for one year, helping the index recover lost ground.

• Ultimately, the KSE-100 closed at 166,284, posting a modest gain of 138 points. Trading activity remained subdued, with 168mn shares changing hands on the KSE-100, while the broader market recorded 607mn shares. LPL (109mn), PIAHCLA (38mn), and PTC (34mn) emerged as the top volume leaders. Looking ahead, market direction is expected to remain sensitive to macroeconomic developments, particularly external account indicators and the inflation trajectory. With volatility likely to persist, investors are advised to maintain caution and prioritize fundamentally resilient scrips amid short-term fluctuations.

Pakistan Market Wrap: KSE-100 closes at 166,284 up 138 points – By Alpha-Akseer Research

Dec 4 2025

Alpha Capital

• The equity market opened on a strong note but remained volatile throughout the session. The KSE-100 Index touched an intraday high of 166,837 and a low of 165,886 before closing at 166,284, up 138 points. Overall trading activity remained muted, with 167 million shares traded and an estimated PKR 17 billion in value.

• The major stocks that contributed to the index’s gains included SRVI (10%, 126 points), PIOC (3.8%, 51 points), PTC (5%, 42 points), ENGROH (0.5%, 35 points), and PPL (0.7%, 34 points). PTC and KEL led the volume charts, trading 34.5 million and 15.3 million shares, respectively.

Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Dec 4 2025

Al Habib Capital Markets

• The KSE-100 Index remained volatile, touching an intraday high of 166,837 before closing 138 points higher (+0.08%) at 166,284. Market sentiment improved by the following key developments, The Saudi Arabia Fund for Development extended the USD 3.0 billion deposit for another year, Pakistan’s external debt-to-GDP ratio dropped to 26% in FY25, the long-delayed NFC session finally began, and Pakistan and Kyrgyzstan signed 15 MoUs to boost bilateral cooperation. Top contributors included SRVI, PIOC, PTC, ENGROH, and PPL, collectively adding 287.87 points. LPL led the volumes with 108.92 million shares, while total market turnover stood at 607.79 million shares.

Pakistan Market: Pakistan Listed Consumer Comp Sheet – By Topline Research

Dec 4 2025

Topline Securities

• Pakistan listed Consumer sector is currently trading at 2025 PE of 13.2x which is at a discount to its historical average of 22.32x. Segment wise, consumer staple (FMCG) is trading at 2025 PE of 16.1x vs. 10-year average of 26.95x, pharmaceutical is trading at 2025 PE of 18.0x vs. 10-year average PE of 20.74x and consumer discretionary is trading at PE of 8.2x vs. 10-year average PE of 19.27x. Sector witnessed 5-year and 10-years sales/profit CAGR of 18%/25% and 13%/14% respectively.