Pakistan Market Wrap: KSE-100Dips as Investors Lock Profits Amid Global Tensions – By HMFS Research
Feb 19 2026
HMFS Research
The KSE-100 index endured intense selling pressure today as
investors aggressively moved to lock in gains, resulting in a sharp and
broad-based correction across the equity market. The benchmark plunged to an
intra-day low of 7,206 points, with heavyweights from the fertilizer, banking,
and E&P sectors leading the downturn. Escalating geopolitical tensions
between the US and Iran dampened investor sentiment, triggering widespread
profit-taking and amplifying volatility. By the close of the session, the index
settled at 172,170, marking a record decline of 6,683 points (down 3.74%) from
the previous day’s close.
Trading activity remained relatively moderate, with volumes
recorded at 229mn shares on the KSE-100 index and 540mn shares in the overall
market. The day’s volume leaders included WTL (84mn), KEL (62mn), and TSBLR1
(46mn). Going forward, market direction is likely to remain contingent upon
geopolitical developments and evolving domestic economic indicators.
Additionally, forthcoming result announcements from blue-chip companies could
provide selective support to the benchmark. In this environment, investors are
advised to remain vigilant, carefully assess market dynamics, and focus on
fundamentally strong stocks offering sustainable long-term growth potential.
Pakistan Market Wrap: The benchmark index closed on a sharply negative note – By IIS Research
Feb 19 2026
Ismail Iqbal Securities
The benchmark index closed on a sharply negative note,
declining from the outset amid global uncertainty and rising oil prices, which
weighed on investor sentiment. Trading volumes decreased to 229mn shares today
as compared to 425mn shares in the previous session. Today, the KSE-100 index
lost 6,683 points to close at 172,170 level, down by -3.74% DoD. Banks, Cement,
and E&Ps sectors were the major laggards in today's session, cumulatively
shedding 3506 points from the index.
Oil & Gas Development Co. (OGDC): Expanding frontier footprint; BUY reiterated – By Topline Research
Feb 19 2026
Topline Securities
We reiterate our BUY stance on Oil and Gas Development
Company (OGDC), with a Mar-27 Target Price (TP) of Rs419/share, implying a
total return of 48% (including dividend yield of 5%). The stock was highlighted
as a top pick in our 2026 strategy report released on Nov 08, 2025. Since then,
OGDC has delivered a return of 19%, outperforming the benchmark by 11%.
This is despite a recent correction of 12.1% in the stock
price over the last one month, amid concerns surrounding the Reko Diq project,
which we believe have overplayed.
JS-Pakistan Market: Technical Outlook (Jul 01, 2026)
2026-07-01
JS Global
JS-Pakistan Market: Technical Outlook (Jun 30, 2026)
Technical Outlook: KSE-100 expected to test resistance at the 50-DMA – By JS Research
Feb 19 2026
JS Global Capital
KSE-100 index showed sharp recovery to close at 178,853
level, up 5,703 points DoD. Volumes stood at 698mn shares versus 716mn shares
traded previously. The index is expected to test resistance at 179,699 (50-DMA)
where a break above that will target the 30-DMA currently at 184,064 level.
However, any downside will find support between 175,800 and 177,385 levels,
respectively. The RSI and the Stochastic Oscillator have moved up, supporting a
recovery view. Investors are recommended to 'Buy on dips', with risk defined
below 175,796 level. The support and resistance are at 175,796 and 180,442
levels, respectively.
LSE Ventures Ltd (LSEVL): 1HFY26 Corporate Analyst Briefing – By JS Research
Feb 18 2026
JS Global Capital
LSE Ventures Ltd (LSEVL) held its corporate briefing
yesterday to discuss its financial outlook and recent results. To recall, the
company reported EPS of Rs2.86 in 1HFY26, supported by other income of Rs836mn,
primarily driven by gains associated with the listing of PACRA.
The company expects two key IPOs in 2026, with LSE SPAC 1
Limited expected to be completed before Mar-2026, followed by the listing of
Pakistan GasPort Limited.
Technical Outlook: KSE-100 entering the key support range – By JS Research
Feb 18 2026
JS Global Capital
Bears continued to dominate the session as KSE-100 index
extended the decline to close at 173,150 level, down 1,304 points DoD. Volumes
stood at 716mn shares versus 773mn shares traded previously. The index is
likely to test support at 171,693 (yesterday's low) where a fall below will
target 169,584. However, any upside will face resistance between 173,650 and
176,150 levels, followed by 179,488 (50-DMA). The Stochastic Oscillator is
oversold and the RSI is reaching the oversold region indicating limited downside
risk. We recommend investors to stay cautious on the higher side and wait for
dips. The support and resistance are at 171,185 and 175,623 levels,
respectively.
Technical Outlook: KSE-100 fall below the 50-DMA; cautious – By JS Research
Feb 17 2026
JS Global Capital
The KSE-100 index witnessed another negative session to
close at 174,454 level, down 5,150 points. Volumes stood at 773mn shares versus
709mn shares traded previously. The index is expected to test support at
173,574 (yesterday's low) where a fall below will target 172,382 level.
However, any upside will face resistance within 176,000-178,425 range, followed
by the 50-DMA at 179,366 level. The RSI and the MACD are moving down,
supporting a bearish view. We recommend investors to stay cautious at current
level. The support and resistance are at 172,029 and 178,424 levels,
respectively.
Pakistan Cements: 2QFY26 result previews – By JS Research
Feb 12 2026
JS Global Capital
We present 2QFY26 earnings expectations for D.G. Khan Cement
Ltd (DGKC), Cherat Cement Ltd (CHCC), and Kohat Cement Ltd (KOHC).
We expect DGKC to report EPS of Rs6.98 in 2QFY26E, up 13%
YoY, supported by improved margins on the back of softer coal prices and a
significant reduction in financial charges amid aggressive deleveraging and
monetary easing.
In contrast, CHCC and KOHC are expected to witness earnings
decline of 20% and 22% YoY in 2QFY26E, with EPS projected at Rs9.4 and Rs2.91,
respectively, primarily due to margin compression amid lower YoY retention
prices in the North and relatively higher coal costs owing to the Afghan border
closure.
Pakistan Economy: Sequential dip likely for Banks – By JS Research
Feb 11 2026
JS Global Capital
We preview 4QCY25 results for Pakistan banks which are
expected to broadly report YoY decline in core income due to NIMs contraction
amid declining yields.
Quarterly profits are likely to face pressure from weaker
core income and declining asset yields, though non-interest income should offer
partial support. Dividend policies for 4QCY25 are expected to be maintained.
Technical Outlook: KSE-100; 30-DMA to restrict upside – By JS Research
Feb 11 2026
JS Global Capital
KSE-100 index witnessed a volatile session to close at
182,154 level, down 187 points. Volumes stood at 1,062mn shares versus 931mn
shares traded previously. The index is expected to test support at 181,499
(yesterday's low) where a fall below that will target the 50-DMA at 178,377
level. However, any upside will face resistance at the 30-DMA that is currently
at 184,123 level. A break above that will cause the uptrend to resume. The RSI
and the MACD are moving down, supporting a negative view. We recommend
investors to stay cautious on the higher side. The support and resistance are
at 181,363 and 183,080 levels, respectively.
