Automobile Assemblers: Pakistan Car sales in Dec 2025 up 35% YoY and down 14% MoM to 13,280 units – By Topline Research

Jan 12 2026

Topline Securities

• Pakistan Car sales (as reported by PAMA) clocked in at 13,280 units in Dec 2025, reflecting a 35% YoY rise and 14% MoM decline. This took 1HFY26 sales to 88,322 units, a 46% YoY rise from 60,676 units in 1HFY25.

• The yearly growth numbers are fueled by new entrants alongside lower interest, easing inflation, and improving macroeconomic sentiments.

Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Jan 12 2026

Al Habib Capital Markets

• The KSE-100 Index experienced a volatile session, hitting an intraday high of 184,439.06 before closing at 182,384.14, down 2,026 points (-1.10%) as profit-taking set in. Selling pressure was evident across key sectors, particularly Commercial Banks, Oil & Gas E&P, Technology & IT Services, and Fertilizer, as investors trimmed exposure at elevated valuations.

• On the macro front, Prime Minister has said concerted efforts are being made to transform Pakistan into a regional hub for Information Technology. Separately, international Oil prices dipped on Monday, after Iran said it had “total control” following weekend violence, easing some concerns over supply from the OPEC producer, while investors also weighed efforts to resume oil exports from Venezuela. Among major laggards, SYS, UBL, MEBL, ENGROH and FFC, which cumulatively shaved -782.51 points off the benchmark. FFL led trading with 65.62 million shares, as total market turnover reached 1,055.68mn shares.

Pakistan Market Wrap: A Tactical Pause: Profit-Taking Dominates After Strong Upside – By HMFS Research

Jan 12 2026

HMFS Research

• Profit-taking dominated trading at the Pakistan Stock Exchange, as investors moved to lock in gains following the recent sharp rally and elevated valuations. The selling pressure was further amplified by heightened international uncertainty and ongoing geopolitical tensions, which weighed on broader risk appetite. Despite these near-term headwinds, Pakistan’s underlying economic fundamentals remain relatively stable, supporting expectations of market sustainability over the medium to long term. The correction—widely viewed as overdue—was led by the Banking and Fertilizer sectors, which exerted the most pressure on the benchmark.

• Although the KSE-100 briefly ventured into positive territory during the session, posting a marginal intra-day gain of 29 points, renewed selling interest dragged the index lower by close. The benchmark ultimately settled at 182,384, reflecting a decline of 2,026 points. Trading activity remained steady, with 419mn shares exchanged on the KSE-100 and approximately 1.1bn shares traded across the broader market. Volume leaders for the session included FFL (66mn), WTL (51mn), and HASCOL (47mn). Looking ahead, the market is likely to remain susceptible to profit-taking pressures, particularly amid lingering geopolitical concerns. However, any easing on this front—alongside expected defence engagements of Turkey and Pak-Saudi Arabia pact—could help restore confidence. Moreover, the upcoming corporate results season may act as a near-term catalyst, offering selective support to market momentum. Investors are advised to maintain a measured approach, avoid reactive trading, and focus on fundamentally strong stocks offering sustainable long-term growth potential.

Pakistan Market Wrap: KSE-100 closes at 182,384 down 2,026 points – By Alpha-Akseer Research

Jan 12 2026

Alpha Capital

• The equity market began the session on a subdued note and remained under pressure throughout the day. The KSE-100 Index touched an intraday high of 184,439 and a low of 182,304 before closing at 182,384, registering a decline of 2,026 points. Total traded volume on the main board amounted to 418.8 million shares, with a traded value of PKR 33.7 billion.

• The downturn was largely attributed to selling in index-heavy stocks, particularly SYS (-3.6%, -178.4 points), UBL (-1.2%, -167 points), MEBL (-2.2%, -163 points), ENGROH (-1.9%, -155 points), and FFC (-0.7%, -120 points). On the volume front, FFL and BOP dominated trading activity, with volumes of 65.6 million and 45.6 million shares, respectively.

Pakistan Market Wrap: The benchmark index closed on a negative not – By IIS Research

Jan 12 2026

Ismail Iqbal Securities

• The benchmark index closed on a negative note, with the session remaining volatile as profit taking emerged while investors locked in recent gains. Activity was also focused on stocks with automobile exposure, with trading shifting between scrips following the launch of new competitively priced vehicle variants. Trading volumes increased to 419mn shares today as compared to 393mn shares in the previous session. Today, the KSE-100 index lost 2,026 points to close at 182,384 level, down by -1.10% DoD. Commercial Banks, Oil & Gas Exploration Companies, and Cement sectors were the major laggards in today's session, cumulatively shedding 1019 points from the index.

Pakistan Cements: Acquisitions and expansion; Implication for the sector – By Insight Research

Jan 12 2026

Insight Securities

• The cement sector remains in the spotlight following recent industry acquisitions, as major players are focusing on consolidation. While, new capacity expansion has been announced by one manufacturer, at a time when industry capacity utilization is already below psychological threshold of 60%. Encouragingly, demand indicators have begun to show signs of recovery, with local cement dispatches posting a growth of 13% during 6MFY26. Nevertheless, domestic consumption remains below FY22 levels, highlighting the substantial demand potential. The key uncertainty, however, revolves around the timing and magnitude of this demand recovery.

• The announcement of capacity expansion in the northern region has reignited concerns around the possibility of a price war. We believe such risks remain remote at this stage, despite sub optimal utilization levels. This view is supported by the industry’s strong pricing discipline, which has remained intact since last three years, despite utilization level standing below 60%, in contrast to earlier cycles. Furthermore, ongoing consolidation has materially enhanced the industry structure, as reflected in the market share of the top five manufacturers, which increased from ~54% in FY17 to ~65% in FY22, and is now expected to rise further to ~76% following recent acquisitions and post capacity addition. Given this backdrop, we continue to prefer cement manufacturers with strong balance sheets, lower leverage and diversified revenue streams, which are better positioned to navigate near term volatility.

Technical Outlook: KSE-100; Indicators are overbought – By JS Research

Jan 12 2026

JS Global Capital

• The KSE-100 index extended the decline to close at 184,410 level, down 1,133 points DoD. Volumes stood at 1,034mn shares versus 1,434mn shares traded previously. If the decline continues, the next target will be at 182,427 which may be extended to 179,043 level. However, any upside will face resistance in the range of 184,760-186,180 levels, respectively. Though, a break above that will resume the uptrend towards 188,870 level. The RSI and the Stochastic Oscillator are overbought, warranting a cautious stance. We recommend investors to stay cautious at current level. The support and resistance are at 183,347 and 185,826 levels, respectively.

Morning News: Urgent reforms proposed to avert another IMF loan – By Alpha-Akseer Research

Jan 12 2026

Alpha Capital

• A body constituted by the prime minister and led by Minister for Planning Ahsan Iqbal has called for urgent reforms to improve the ease of doing business and for a serious restructuring and rationalization of tariffs — both energy prices and trade duties — to more than double exports to over $60 billion within three years.

Morning News: Turkey Said to Seek Membership of Saudi-Pakistan Defense Pact – By Shajar Research

Jan 12 2026

Shajar Capital

• Turkey is seeking to join the defense alliance between Saudi Arabia and nuclear-armed Pakistan, according to people familiar with the matter, paving the way for a new security alignment that could shift the balance of power in the Middle East and beyond. (Bloomberg)

• The air force chiefs of Pakistan and Bangladesh held talks on a potential pact covering the sale of JF 17 Thunder fighter jets to Dhaka, Pakistan's military said, as Islamabad widens its arms supply ambitions and beefs up ties with Bangladesh. (Reuters)

Morning News: Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan, sources say – By Vector Research

Jan 12 2026

Vector Securities

• Pakistan is in the final phases of striking a $1.5-billion deal to supply weapons and jets to Sudan, a former top air force official and three sources said, promising a major boost for Sudan's army, battling the paramilitary Rapid Support Forces. (Reuters)

• Turkey is seeking to join the defense alliance between Saudi Arabia and nuclear-armed Pakistan, according to people familiar with the matter, paving the way for a new security alignment that could shift the balance of power in the Middle East and beyond. (Bloomberg)