Pakistan Market Wrap: KSE-100 closes at 161,687 down 248 points – By Alpha-Akseer Research

Nov 17 2025


Alpha Capital


  • The equity market opened on a positive note but failed to sustain gains at higher levels. The KSE-100 Index touched an intraday high of 163,602 and a low of 161,482, before settling at 161,687 — down 248 points. Overall activity on the KSE-100 amounted to 253 million shares, with a traded value of roughly PKR 25 billion.
  • Major draggers on the index included LUCK (-2.2%, -146 points), UBL (-0.7%, -78 points), MARI (-1.1%, -64 points), HUBC (-0.9%, -56 points) and MLCF (-3%, -51 points). In terms of volume, KEL and PIBTL led the market with 296 million and 35.9 million shares traded, respectively.
Descon Oxychem Limited (DOL): FY25 Corporate Analyst Briefing – By JS Research

Nov 17 2025


JS Global Capital


  • Descon Oxychem Limited (DOL) held its corporate briefing to review FY25 performance and share its outlook. The company posted an FY25 EPS of Rs4.91, reflecting a 69% YoY increase, primarily due to a 10ppt increase in gross margins during the year. We present key takeaways from the session.
  • The company’s topline grew 5% YoY in FY25, driven by higher Hydrogen Peroxide volumes, which reached 42k MT in FY25 (up 4% YoY), with the plant operating at full capacity.
  • On the cost side, power consumption improved to 532 kWh/ MT from 583 kWh/MT due to better plant efficiency. Combined with lower RLNG prices and other cost optimizations, this resulted in a 10ppt YoY expansion in gross margins to 30% in FY25.
Pakistan Economy: Pakistan’s Current Account swells to USD733mn in 4MFY26 – By AHCML Research

Nov 17 2025


Al Habib Capital Markets


  • Pakistan's external sector shows significant strain, with the current account deficit widening to USD733mn in 4MFY26, over 3.5 times the USD206mn deficit of 4MFY25. This deterioration stems from a surging import bill of USD20.72bn (up 10% YoY), which far outpaced export earnings of USD10.63bn (up 2% YoY). While remittances grew 9% YoY to USD12.96bn, providing essential support, they were insufficient to offset the growing trade imbalance. Urgent policy measures are needed to curb imports and boost exports to restore external stability.
  • The current account deteriorated sharply across all periods. On yearly basis, it shifted from a USD296mn surplus in Oct’24 to a USD112mn deficit in Oct’25, a USD408mn negative swing. On Monthly basis, it reversed from an USD83mn surplus in Sep’25 to a USD112mn deficit in Oct’25, worsening by USD195mn. Cumulatively, the 4MFY26 deficit reached USD733mn, significantly higher than the USD206mn in 4MFY25, highlighting persistent external vulnerabilities.
Pakistan Market Wrap: View from the Desk – By JS Research

Nov 17 2025


JS Global Capital


  • The KSE-100 closed at 161,687, down248 points, after swinging in a volatile intraday range after showing an intraday high of 163,602 The decline largely stemmed from profit-taking following recent strong gains, combined with investor caution around macro risks and possible policy headwinds. Looking ahead, the market could remain choppy, while liquidity and reform momentum may support further gains, geopolitical uncertainty and inflation pressures could trigger intermittent pullbacks.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Nov 17 2025


Al Habib Capital Markets


  • The KSE-100 Index remained volatile, touching an intraday high of 163,602 before closing 248.01 points lower (-0.15%) at 161,687, driven by profit-taking. The negative sentiment was primarily triggered by economic data showing Pakistan’s current account deficit widened to USD733mn in the 4MFY26, a sharp increase from the USD206mn recorded in the same period last year.
  • This included a USD112mn deficit for the single month of Oct’25. Offsetting this slightly, the REER index appreciated to 103.95. The key drags on the index were LUCK, UBL, MARI, HUBC, and MLCF, which together subtracted 395.92 points. Market activity was led by KEL, with 296.2 million shares traded, contributing to a total market turnover of 1,214.43 million shares.
Pakistan Market Wrap: Rising Early, Recalibrating Late: The KSE-100’s Search for Direction – By HMFS Research

Nov 17 2025


HMFS Research


  • The KSE-100 index opened today’s session on a bullish note, supported by confidence delivered by the market participants. Upbeat sentiment was further reinforced by recent exploration discoveries in the E&P sector, helping the benchmark surge as high as 1,667 points during intraday trading. However, the momentum lost steam as fresh uncertainty emerged. News of a potential ban on Pakistan’s exports to Afghanistan weighed heavily on investor sentiment, given the exposure of several listed companies to that market. Adding to the cautious tone, October trade data revealed a current account deficit of USD 112mn, prompting a brief phase of profit-taking.
  • As a result, the index reversed its early gains and settled at 161,687 level, down 248 points by the close. Trading activity remained robust, with 521mn shares changing hands on the KSE-100 and 1.2bn shares traded across the broader market. The day’s top volume contributors included KEL (296mn), BECO (107mn), and TPLP (73mn). Looking ahead, market direction will be shaped by evolving economic developments, clarity on trade relations with Afghanistan, and the broader trajectory of external accounts. Even so, optimism remains supported by relatively attractive market valuations, which could pave the way for renewed value-driven accumulation. Investors are encouraged to stay alert to shifting dynamics and prioritize fundamentally strong stocks that offer resilient, long-term growth potential.
Pakistan Market Wrap: KSE-100 closes at 161,687 down 248 points – By Alpha-Akseer Research

Nov 17 2025


Alpha Capital


  • The equity market opened on a positive note but failed to sustain gains at higher levels. The KSE-100 Index touched an intraday high of 163,602 and a low of 161,482, before settling at 161,687 — down 248 points. Overall activity on the KSE-100 amounted to 253 million shares, with a traded value of roughly PKR 25 billion.
  • Major draggers on the index included LUCK (-2.2%, -146 points), UBL (-0.7%, -78 points), MARI (-1.1%, -64 points), HUBC (-0.9%, -56 points) and MLCF (-3%, -51 points). In terms of volume, KEL and PIBTL led the market with 296 million and 35.9 million shares traded, respectively.
Dynea Pakistan Limited (DYNO): Corporate Briefing Takeaways – By Chase Research

Nov 17 2025



  • DYNO has reported earnings per share of PKR 45.97 in FY25 (FY24: PKR 63.14). Furthermore, in 1QFY26 the company reported EPS of PKR 10.13 (EPS 1QFY25: PKR 8.05).
  • Exports to Afghanistan rose to 44% in FY25 to approximately PKR 1 billion. After the border closure, the export to Afghanistan is completely closed. The company is seeking other routes and other markets for exports.
Morning News: Barrick Mining considers splitting into two entities, sources say – By Vector Research

Nov 17 2025


Vector Securities


  • The board of Canada's Barrick Mining (ABX.TO), opens new tab has raised the possibility of splitting the company into two separate entities, one focused on North America and the other on Africa and Asia, four sources familiar with the company's thinking told. (Reuters)
  • Pakistan and Jordan on Saturday reaffirmed their resolve to deepen bilateral cooperation, with both sides expressing a strong desire to broaden engagement across economic, trade, investment, health, science and technology, education and defence sectors. (BR)
Technical Outlook: KSE-100: Resistance test at the 30-DMA – By JS Research

Nov 17 2025


JS Global Capital


  • The KSE-100 index extended the gain to close at 161,935 level, up 1,278 points DoD. Volumes stood at 673mn shares versus 797mn shares traded previously. The index is expected to test resistance at the 30-DMA that is currently at 162,478 level. A break above that will target the recent high at 163,935 level. However, any downside will find support at the 50-DMA standing at 161,321. The RSI and the MACD have moved up, supporting a positive view. We recommend investors to 'Buy on dips', with risk defined below 50-DMA. The support and resistance are at 161,112 and 162,439 levels, respectively.
Morning News: Oil falls after loadings resume at key Russian export hub – By Shajar Research

Nov 17 2025


Shajar Capital


  • Oil prices fell in early Asian trade on Monday, erasing last week's gains, as loadings resumed at the key Russian export hub of Novorossiysk after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack. (Reuters)
  • Asian shares fluctuated at the start of the week, with US economic data and earnings from AI bellwether Nvidia Corp. expected to shape the market narrative. (Bloomberg)
Pakistan Market Wrap: KSE-100 closes at 161,687 down 248 points – By Alpha-Akseer Research

Nov 17 2025


Alpha Capital


  • The equity market opened on a positive note but failed to sustain gains at higher levels. The KSE-100 Index touched an intraday high of 163,602 and a low of 161,482, before settling at 161,687 — down 248 points. Overall activity on the KSE-100 amounted to 253 million shares, with a traded value of roughly PKR 25 billion.
  • Major draggers on the index included LUCK (-2.2%, -146 points), UBL (-0.7%, -78 points), MARI (-1.1%, -64 points), HUBC (-0.9%, -56 points) and MLCF (-3%, -51 points). In terms of volume, KEL and PIBTL led the market with 296 million and 35.9 million shares traded, respectively.
Morning News: 5-year textile, apparel policy draft finalized – By Alpha-Akseer Research

Nov 14 2025


Alpha Capital


  • The Ministry of Commerce has reportedly finalised a draft of the five-year (2025-30) Textile and Apparel Policy for submission to the Economic Coordination Committee (ECC) of the Cabinet.
  • The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on December 8 to consider “Pakistan’s Second Review for the 37-month Extended Arrangement under the Extended Fund Facility (EFF)”
Pakistan Market Wrap: KSE-100 closes at 160,657 up 2,474 points – By Alpha-Akseer Research

Nov 13 2025


Alpha Capital


  • The equity market opened on a positive note and sustained its upward trajectory throughout the session. The KSE-100 Index recorded an intraday high of 160,945 and a low of 158,971, before closing at 160,657 — up by 2,474 points. Despite the gains, overall activity remained relatively muted, with a total trading volume of 253 million shares and a traded value of around PKR 25 billion.
  • Key contributors to the index’s advance included FFC (4.1%, 547 points), LUCK (5.6%, 319 points), MARI (2.9%, 144 points), MLCF (10%, 130 points), and FCCL (9.8%, 130 points). In terms of volume, BOP and KEL dominated the activity, trading 40 million and 37 million shares, respectively.
Morning News: CPPA-G Power purchase price scenarios – By Alpha-Akseer Research

Nov 13 2025


Alpha Capital


  • The Central Power Purchasing Agency–Guaranteed (CPPA-G) has tailored five scenarios for the Power Purchase Price (PPP) based on different projections for the year 2026, applicable from January to December.
  • The All Pakistan Textile Mills Association (APTMA) on Wednesday termed the government’s three-year electricity incremental package, priced at PKR 22.98/kWh for the industrial and agriculture sectors, as unacceptable.
Pakistan Market Wrap: KSE-100 closes at 158,192 up 313 points – By Alpha-Akseer Research

Nov 12 2025


Alpha Capital


  • The equity market opened on a positive note and largely maintained its upward momentum throughout the session. The KSE-100 Index touched an intraday high of 159,516 and a low of 157,204, before closing at 158,184, gaining 313 points. Overall activity remained subdued, with a total trading volume of 216.7 million shares and a traded value of approximately PKR 22 billion.
  • Major contributors to the index’s advance included FFC (3.6%, 518 points), PSEL (6.8%, 92 points), PPL (1.6%, 67 points), UBL (0.5%, 56 points), and KTML (10%, 44 points). In terms of volumes, BOP and KEL led the activity, trading 40 million and 35 million shares, respectively.
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.