پاکستان اسٹریجی: میکرو اکنامک بہتری اور ویلیو بائنگ کے ساتھ بینکنگ، ای اینڈ پیز، اور فرٹیلائزر سیکٹرز پر توجہ Pakistan Strategy: Macro recovery & value buying; focus on Banks, E&Ps, and Fertilizer sectors

Pakistan Strategy: Improving macroeconomics to boost investor's confidence

Research House: AKD Securities Limited | Date: October 01, 2026

Report Overview

According to AKD Research, the KSE-100 Index remained under pressure in Sep'26, dropping by 4.0% (-3.8% in US$ terms) due to heightened geopolitical tensions in the Red Sea. However, economic resilience, easing inflationary pressures, contained current account deficit, and record FX reserves provide a solid foundation for market recovery.

Investment View & Sector Strategy

Analysts advise investors to remain positioned in Banks, E&Ps, Fertilizer, Textile, OMCs, Technology, Steel, and Automobile sectors. E&Ps and OMCs are particularly highlighted to benefit from the potential resolution of gas sector circular debt.

Key Catalysts

• Potential peaceful resolution or positive developments in the US-Iran situation.
• Normalization of trade and oil flows from the GCC through alternative routes.
• Financing approval from US EXIM Bank for the Reko Diq project, US$6bn refinery upgrade, and PIA aircraft purchases.
• Unveiling of a gas sector circular debt settlement plan.

Material Risks

Escalation of regional geopolitical conflicts and sustained high yields in developed markets leading to foreign outflows.

AKD Universe Valuations Snapshot (Selected Stocks)