Morning News: Pakistan sets three-year economic plan targeting 5.7% growth – By Alpha-Akseer Research

Nov 4 2025


Alpha Capital


  • The federal government has set ambitious economic targets for the next three years, aiming to raise the GDP growth rate to between 4.2% and 5.7%. Other targets include increasing the size of the national economy to PKR 162,513bn, boosting exports by more than USD 10bn, and increasing remittances to a record USD 44.8bn.
  • Exposing the Power Division’s claims of reforms in the power sector, the Asian Development Bank (ADB) has observed that weak regulatory frameworks and governance issues — including lack of transparency and poor performance — continue to prevent power distribution companies (Discos) from accessing commercial borrowing.
Kohat Cement Company Limited (KOHC): FY25 Analyst Briefing Takeaways – By Foundation Research

Nov 11 2025


Foundation Securities


  • Kohat Cement Company Limited (KOHC PA) held its 1QFY26 analyst briefing today to discuss financial/operational performance and outlook of the company.
  • Kohat Cement Company Limited (KOHC PA) profitability clocked in at PKR 2.9Bn (EPS: PKR 3.20/sh) in 1QFY26 vs. PKR 3.4Bn (EPS: PKR 3.74/sh) during 1QFY25. In FY25, KOHC profitability was reported at PKR 11.6Bn (EPS: PKR 12.59/sh) as compared to PKR 8.9Bn (EPS: PKR 9.67/sh) in FY24.
  • In 1QFY26, local retention prices settled at PKR 14.6k/ton vs. cost incurred of PKR 9.6k/ton. However retention prices in FY25 stood at PKR 16.1k/ton vs. PKR 14.9k/ton in the year prior. Recently prices have increased which would offset impact of surge in coal prices thereby gross margins will sustain.
Fauji Fertilizer Company Limited (FFC): Acquiring of 25% in FFBL Power Company Limited (FPCL) – By Topline Research

Nov 11 2025


Topline Securities


  • As per company notice, Fauji Fertilizer Company Limited (FFC) board has approved acquisition of 214,687,500 ordinary shares of FFBL Power Company (FPCL) (25% of the paid capital) from the Parent Company Fauji Foundation. Post this acquisition, total ownership of FFC in FPCL will increase to 100%.
  • For this purpose, swap ratio has been calculated as per valuation report which translates 1 share of FFC against a consideration of 13.49 shares of FPCL.
  • FFC will issue 15,914,566 ordinary shares at a par value of Rs10 per share, representing approximately 1.1% of the company’s paid-up share capital before the issue. The issuance will result in minimal dilution for existing shareholders.
Pakistan Market Wrap: Pakistan Stock Exchange Suffers Sharp Sell-off Amid Renewed Geopolitical Tensions – By HMFS Research

Nov 11 2025


HMFS Research


  • The Pakistan Stock Exchange (PSX) witnessed a sharp downturn today, as the benchmark KSE-100 Index plunged over 3,700 points, marking one of the steepest single-day declines in recent sessions. The sell-off came amid renewed geopolitical tensions and a fragile domestic security environment, prompting investors to adopt a distinctly risk-averse stance. Selling pressure persisted throughout the session, dragging the benchmark to an intra-day low of 157,766, before closing marginally higher at 157,871, down 3,668 points for the day. Volumes remained steady, with 291mn shares changing hands on the KSE-100 Index and 835mn on the broader All-Share Index. The most actively traded scrips included FNEL (77mn), KEL (67mn), and WTL (47mn). The sharp reversal came on the heels of Monday’s rally, as political and security developments took center stage once again.
  • A day after the Senate passed “The Constitution (Twenty-Seventh Amendment) Bill, 2025”, added an element of political uncertainty to the trading floor. Investor sentiment was further undermined following a blast in Islamabad, intensifying concerns over the domestic security outlook. Going forward, market sentiment is expected to remain largely cautious, with investors likely to seek clarity on both the evolving political landscape and security situation, alongside monitoring external cues. Investors are advised to exercise prudence in short-term positioning, focusing on fundamentally resilient names with stable earnings visibility and opportunities.
Pakistan Market Wrap: The benchmark index closed on a negative note today – By IIS Research

Nov 11 2025


Ismail Iqbal Securities


  • The benchmark index closed on a negative note today, weighed down by heightened geopolitical tensions and a bomb blast incident in Islamabad. The compromised security environment hurt investor sentiment, leading to aggressive profit-taking and dampening market momentum. Trading volumes increased to 291mn shares today as compared to 225mn shares in the previous session. Today, the KSE-100 index lost 3,668 points to close at 157,871 level, down by -2.27% DoD. Commercial Banks, Oil & Gas Exploration Companies, and Cement sectors were the major laggards in today's session, cumulatively shedding 1721 points from the index.
Pakistan Market Wrap: KSE-100 closes at 157,871 down 3,668 points – By Alpha-Akseer Research

Nov 11 2025


Alpha Capital


  • The equity market opened on a weak note and continued to trade in negative territory throughout the session. The KSE-100 Index recorded an intraday high of 161,517 and a low of 157,766, before settling at 157,871 — down by 3,668 points. Overall market activity remained muted, with a total trading volume of 289.3 million shares and a traded value of approximately PKR 25.8 billion.
  • Key stocks contributing to the index’s decline included ENGROH (-3.5%, -264 points), OGDC (-3.9%, -220 points), HUBC (-3.0%, -198 points), NBP (-4.4%, -173 points), and MARI (-2.9%, -168 points). In terms of volumes, KEL and BOP dominated the activity with 66.8 million and 45.2 million shares traded, respectively.
Agriauto Industries Limited (AGIL): Corporate Briefing Notes – By Chase Research

Nov 11 2025



  • Agriauto Industries Limited recorded consolidated earnings per share of PKR 6.62 in FY25, as compared to loss per share of PKR 9.65 in FY24.
  • The company recorded net sales of PKR 11.9 Bn, up 39% from PKR 8.5 Bn in FY24. Along with this, it saw its gross margin expand from 5% in FY24 to 10% in FY25. As a result, gross profit surged 216% from PKR 389 Mn in FY24 to PKR 1.2 Bn in FY25.
Nishat Chunian Limited (NCL): Corporate Briefing Notes – By Chase Research

Nov 11 2025



  • NCL has reported standalone earnings per share of PKR 3.29 in FY25 (FY24: PKR 2.88). Furthermore, in 1QFY26 the company reported EPS of PKR 2.18 (1QFY25: PKR 0.15).
  • The company generated 63% of its sales from the domestic market and 37% from exports. Spinning remained the leading revenue contributor with a 57% share, followed by Home Textile at 27% and weaving at 16%, while a minor portion was contributed by external power sales.
The Organic Meat Company Limited (TOMCL): Corporate Briefing Notes – By Chase Research

Nov 11 2025



  • TOMCL has reported earnings per share of PKR 2.31 in FY25 (FY24: PKR 2.94). Furthermore, in 1QFY26 the company reported EPS of PKR 0.92 (1QFY25: PKR 1.01). The net profit margin has fallen predominantly because of the change in taxation. The effective tax rate has increased significantly.
  • Previously, under final fixed tax regime, where income tax was pegged at 1% on export turnover/proceeds. The effective tax rate was previously around 18.5% to 20%.
Pakistan Petroleum Limited (PPL): Corporate Briefing Session Insights – By HMFS Research

Nov 11 2025


HMFS Research


  • Pakistan Petroleum Limited (PPL) conducted its corporate briefing session, outlining operational highlights, strategic developments, and future growth priorities. The management emphasized stability in core operations, progress on international ventures, and diversification into minerals as key pillars for sustaining long-term value.
  • PPL’s portfolio remains extensive, comprising 21 producing fields (nine operated and twelve partner-operated) and 46 exploratory blocks (twenty-five operated). The company contributes nearly 19% of the country’s total gas production (~3.8 BCFD in FY25) and 16% of local oil output (~406,000 bpd), reaffirming its leading role in Pakistan’s E&P landscape.
Meezan Bank Limited (MEBL): 9MCY25 Analyst Briefing Takeaways – By AKD Research

Nov 11 2025


AKD Securities


  • Bank’s profit for 9MCY25 stood at PkR67.2bn (EPS: PkR37.4), down 13%YoY, due to lower Net Spread Earned on the back of lower policy rate.
  • Return on financings, investments and placements fell to PkR312.1bn in 9MCY25, down 18%YoY from PkR378.3bn in 9MCY24, due to falling yields.
Pakistan Market Wrap: KSE-100 closes at 157,871 down 3,668 points – By Alpha-Akseer Research

Nov 11 2025


Alpha Capital


  • The equity market opened on a weak note and continued to trade in negative territory throughout the session. The KSE-100 Index recorded an intraday high of 161,517 and a low of 157,766, before settling at 157,871 — down by 3,668 points. Overall market activity remained muted, with a total trading volume of 289.3 million shares and a traded value of approximately PKR 25.8 billion.
  • Key stocks contributing to the index’s decline included ENGROH (-3.5%, -264 points), OGDC (-3.9%, -220 points), HUBC (-3.0%, -198 points), NBP (-4.4%, -173 points), and MARI (-2.9%, -168 points). In terms of volumes, KEL and BOP dominated the activity with 66.8 million and 45.2 million shares traded, respectively.
Pakistan Market Wrap: KSE-100 closes at 161,538 up 1,946 points – By Alpha-Akseer Research

Nov 10 2025


Alpha Capital


  • The equity market opened on a positive note and maintained its momentum throughout the trading session. The KSE-100 Index reached an intraday high of 161,881 and a low of 160,406, before closing at 161,538, marking a gain of 1,946 points. Overall trading activity remained subdued, with total volumes of 224 million shares and a traded value of around PKR 24.8 billion.
  • Major contributors to the index’s gains included ENGROH (4.6%, 331 points), FFC (2.3%, 325 points), EFERT (7.7%, 319 points), OGDC (2.7%, 145 points), and PPL (2.9%, 123 points). In terms of volumes, BOP and KEL led the activity, recording 41.4 million and 26 million shares traded, respectively.
Pakistan Market Wrap: KSE-100 closes at 159,593 up 496 points – By Alpha-Akseer Research

Nov 7 2025


Alpha Capital


  • The equity market opened on a positive note and remained in the green throughout the session. The KSE-100 Index touched an intraday high of 160,436 and a low of 159,005, before closing at 159,593—up 496 points. Trading activity stayed relatively muted, with total volumes of 216.7 million shares and a traded value of approximately PKR 18.3 billion.
  • Major contributors to the index’s gains included MARI (2.2%, 121 points), UBL (0.9%, 99 points), MEBL (1.2%, 76 points), PPL (1.7%, 69 points), and NBP (1.6%, 61 points). In terms of volumes, KEL and BOP led the activity, recording 40.4 million and 31.4 million shares traded, respectively.
Pakistan Market Wrap: KSE-100 closes at 159,097 down 481 points – By Alpha-Akseer Research

Nov 6 2025


Alpha Capital


  • The equity market opened on a positive note but was unable to maintain its early gains. The KSE-100 Index recorded an intraday high of 160,591 and a low of 158,253 before closing at 159,097, down 481 points. Trading activity remained subdued on the benchmark index, with total volumes of 282.3 million shares and a traded value of approximately PKR 17.6 billion.
  • Major draggers on the index included UBL (-0.7%, -116 points), OGDC (-1.2%, -98 points), ENGROH (-0.8%, -88 points), MEBL (-0.8%, -79 points), and FFC (-0.4%, -77 points). On the volume front, PIBTL and KEL dominated with 72. million and 58 million shares traded, respectively.
Pakistan Market Wrap: KSE-100 closes at 161,282 down 1,521 points – By Alpha-Akseer Research

Nov 4 2025


Alpha Capital


  • The equity market started off positively but was unable to keep up the momentum. The KSE-100 Index reached an intraday high of 163,385 and a low of 161,159, before settling at 161,282 — a drop of 1,521 points. Market participation remained muted, with total trade volumes of 318.7 million shares and a traded value of around PKR 25 billion.
  • Key drag-factors in the decline included MARI (-2.3%, -147 points), MCB (-2.3%, -128 points), BAHL (-2.2%, -123 points), LUCK (-1.6%, -122 points) and HBL (-1.7%, -110 points). On the activity side, KEL and BOP led the volume charts, trading 70.6 million and 39 million shares respectively.
Morning News: Pakistan sets three-year economic plan targeting 5.7% growth – By Alpha-Akseer Research

Nov 4 2025


Alpha Capital


  • The federal government has set ambitious economic targets for the next three years, aiming to raise the GDP growth rate to between 4.2% and 5.7%. Other targets include increasing the size of the national economy to PKR 162,513bn, boosting exports by more than USD 10bn, and increasing remittances to a record USD 44.8bn.
  • Exposing the Power Division’s claims of reforms in the power sector, the Asian Development Bank (ADB) has observed that weak regulatory frameworks and governance issues — including lack of transparency and poor performance — continue to prevent power distribution companies (Discos) from accessing commercial borrowing.
Pakistan Market Wrap: KSE-100 closes at 161,632 up 4,899 points – By Alpha-Akseer Research

Oct 31 2025


Alpha Capital


  • The equity market opened on a positive note and maintained its bullish momentum throughout the session. The KSE-100 Index touched an intraday high of 162,194 and a low of 158,196, before closing at 161,632, gaining 4,899 points. Market activity improved notably, with total volumes reaching 405 million shares and a traded value of approximately PKR 31 billion.
  • Major contributors to the index’s rise included UBL (6.7%, 671 points), MEBL (6.7%, 406 points), FFC (2.8%, 361 points), BAHL (5.6%, 264 points), and HBL (4.9%, 262 points). On the activity front, KEL and BOP dominated the volume charts, trading 85.1 million and 76.5 million shares, respectively.
Pakistan Market Wrap: KSE-100 closes at 156,733 down 1,732 points – By Alpha-Akseer Research

Oct 30 2025


Alpha Capital


  • The equity market opened on a positive note but failed to sustain its early momentum. The KSE-100 Index recorded an intraday high of 159,507 and a low of 156,328 before closing at 156,733, down by 1,732 points. Market participation remained muted, with total volumes at 368 million shares and a traded value of approximately PKR 28.1 billion.
  • Major contributors to the index’s decline included ENGROH (-8.4%, -643 points), BOP (-9.7%, -167 points), SYS (-3.1%, -141 points), UBL (-1.2%, -128 points), and MCB (-1.6%, -83 points). On the activity front, BOP and KEL dominated the volume charts, trading 75.5 million and 47.6 million shares, respectively.
Pakistan Market Wrap: KSE-100 closes at 158,465 down 1,636 points – By Alpha-Akseer Research

Oct 29 2025


Alpha Capital


  • The equity market opened on a positive note but remained volatile throughout the trading session. The KSE-100 Index touched an intraday high of 160,690 and a low of 158,307, before settling at 158,465, down 1,636 points. Market participation remained subdued, with total volumes of 390.2 million shares and a traded value of approximately PKR 27.4 billion.
  • Major laggards dragging the index lower included LUCK (-2.3%, -154 points), UBL (-1.3%, -138 points), MARI (-2%, -118 points), MCB (-1.6%, -86 points), and EFERT (-1.9%, -81 points). In terms of activity, KEL and BOP led the volume charts, trading 93 million and 44 million shares, respectively.
Pakistan Market Wrap: KSE-100 closes at 160,101 down 2,063 points – By Alpha-Akseer Research

Oct 28 2025


Alpha Capital


  • The equity market opened on a positive note but remained volatile throughout the session. The KSE-100 Index touched an intraday high of 163,381 and a low of 159,805 before closing at 160,101—down by 2,063 points. Market participation stayed muted, with total volumes standing at 370 million shares and a traded value of approximately PKR 23.5 billion.
  • Major laggards that weighed on the index included HUBC (-2.2%, -142 points), MEBL (-1.8%, -122 points), HBL (-1.9%, -114 points), OGDC (-1.9%, -106 points), and UBL (-0.9%, -101 points). In terms of activity, KEL and BOP topped the volume charts, trading 94.1 million and 60 million shares, respectively.