Morning News: OPEC+ Poised to Keep Pumping Despite Rising Oversupply Fears – By IIS Research

Nov 18 2025


Ismail Iqbal Securities


  • OPEC+ will probably continue with its production ramp-up next year regardless of where prices are going, according to traders who believe the expected oversupply in crude will not be large enough to discourage OPEC+ from boosting output.
  • The current account deficit sharply rose by 256 percent in the first four months of this fiscal year (FY26), driven mainly by a rise in the goods import bill.
  • Pakistan’s information technology sector posted a record-breaking performance in October 2025, with monthly IT exports reaching an all-time high of USD386 million.
Technical Outlook: KSE-100: Short term indicators are overbought – By JS Research

Jan 7 2026


JS Global Capital


  • KSE-100 index witnessed another positive session to close at 185,062 level, up 2,654 points DoD. Volumes stood at 1,306mn shares versus 1,384mn shares traded previously. The index is expected to test resistance between 185,480 and 186,875 levels as a break above that will target 188,870 level. However, any downside will find support within 182,335-183,910 range. The RSI and the Stochastic Oscillator are overbought, warranting a cautious stance. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at 182,335 and 186,635 levels, respectively.
Morning News: Oil Declines as Trump Says Venezuela Will Give Some Crude to US – By Shajar Research

Jan 7 2026


Shajar Capital


  • Oil extended losses after Washington moved to exert greater control over Venezuela’s oil industry, with President Donald Trump saying the country would turn over millions of barrels of crude to the US. (Bloomberg)
  • The record-breaking global stock rally stalled in Asia as Japanese equities slipped amid rising tensions with China. (Bloomberg)
Morning News: Senate delegation to undertake rare US visit – By Vector Research

Jan 7 2026


Vector Securities


  • A high-level Senate delegation led by Deputy Chairman Syedaal Khan will pay an official visit to the United States from January 20 to 25, 2026, the Senate Secretariat announced on Tuesday, against the backdrop of a broader thaw in Pakistan-US relations over the past year. The Secretariat described the visit as a "historic milestone" in Pak-US parliamentary relations, marking the "beginning of a new institutional chapter in bilateral engagement". (ET)
  • A committee formed by Prime Minister Shehbaz Sharif has recommended 5% voluntary ethanol blending with petrol based on commercial viability and in consultation with oil marketing companies. Oil industry officials point out that the current ethanol production from sugarcane crushing stands at only 400,000 to 450,000 tons per year. Ethanol exports from Pakistan have been used for blending to produce E10-E15 fuel. At present, most of the ethanol produced in the country is exported due to price incentives. (ET)
Morning News: Government mulls fuel levy hike to aid gas sector – By Alpha-Akseer Research

Jan 7 2026


Alpha Capital


  • The government plans on increasing tax rates on petroleum products to contain more than PKR 3tn circular debt in the gas sector instead of changing the gas tariff as determined by the Oil & Gas Regula tory Authority (Ogra).
  • The provinces of Punjab, Khyber Pakhtunkhwa and Balochistan have decided to engage private companies for the procurement of wheat for their respective strategic reserves.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Jan 6 2026


Al Habib Capital Markets


  • The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index extended its upward momentum, reaching an intraday high of 185,481.45 points before closing at a new all-time high of 185,062.10, up 2,653.87 points (+1.45%). Market sentiment remained strong, supported by net buying over the last seven sessions from Banks (USD 44mn), Companies (USD 18mn), Brokers (USD 6.5mn), and Mutual Funds (USD 5.2mn). Moreover, a PKR345bn decline in government debt stocks over the past five months, the Prime Minister’s call for greater access to loans for SMEs and PKR820bn weekly increase in M2 were also supported the positive activity in the stock market. Heavyweights, including MCB, UBL, MEBL, HBL, and LUCK were the key index drivers, collectively contributing 1,898.22 points. KEL led trading volumes with 109.62 million shares, while overall market participation reached 1,300.56 million shares.
Pakistan Market Wrap: Evening Note – By Vector Research

Jan 6 2026


Vector Securities


  • Evening Note.
Pakistan Cement: Demand remains strong – By Foundation Research

Jan 6 2026


Foundation Securities


  • Cement sector dispatches rose by 2.3% YoY in Dec’25 to 4.3Mn tons, while capacity utilization increased to a mere of 59.1% vs. a muted 57.4% in the SPLY. Despite winter season, local sales exhibited a surge of 7.4% YoY to 3.7Mn tons, showing demand recovery trend amid improved macros. However, exports declined by a sizable 20.7% YoY to reach 0.6Mn tons. Decline in exports were on account of high base effect from South exports, absence of North exports due to Afghan border closure and compensating rise in domestic demand post floods.
  • Demand continues its uptrend where local dispatches grew by 4.9% MoM despite the winter season as historically cement sales dip during these months. Local demand continued to show early signs of recovery in the aftermath of floods, aided by improved macros. However, exports were significantly impacted, owing to Afghan border closure given absence of North exports and improved local sales.
Pakistan Market Wrap: KSE-100 closes at 185,062 up 2,654 points – By Alpha-Akseer Research

Jan 6 2026


Alpha Capital


  • The benchmark index closed on a high note, once again posting fresh all time highs both intraday and at market close, as CY26 began on a strong footing. Liquidity driven buying, continued asset class conversion, and upbeat investor sentiment kept the rally firmly intact. Trading volumes decreased to 597mn shares today as compared to 632mn shares in the previous session. Today, the KSE-100 index gained 2,654 points to close at 185,062 level, up by 1.45% DoD. Commercial Banks, Cement, and Technology & Communication sectors were the major contributors in today's session, cumulatively adding 2330 points to the index.
Pakistan Market Wrap: KSE-100 closes at 185,062 up 2,654 points – By Alpha-Akseer Research

Jan 6 2026


Alpha Capital


  • The equity market began the session on a strong positive footing and sustained its upward momentum throughout the day. The KSE-100 Index recorded an intraday high of 185,481 and a low of 181,182, ultimately closing at 185,062, reflecting a robust gain of 2,654 points. Market activity remained healthy, with total traded volume reaching 596.4 million shares and an estimated turnover of PKR 67.7 billion.
  • The index’s advance was largely supported by notable gains in MCB (7.9%, 451 points), UBL (3.1%, 446 points), MEBL (5%, 358 points), HBL (4.9%, 338 points), and LUCK (4.2%, 306 points). In terms of volumes, KEL and BOP dominated trading activity, registering volumes of 109.6 million and 79.9 million shares, respectively.
Pakistan Cement: Local dispatches up 6%, exports remain under pressure – By JS Research

Jan 6 2026


JS Global Capital


  • Cement dispatches clocked in at 4.35mn tons in Dec-2025, reflecting a modest growth of 1% YoY, as a 6% YoY increase in local dispatches was largely offset by a 21% YoY decline in exports, primarily due to nil exports from North-based players amid the Afghan border closure.
  • In 1HFY26, total cement dispatches increased by 10% YoY, led by a 13% YoY rise in local dispatches, while exports saw a marginal decline of 4% YoY due to a 19% YoY drop in North region exports, with Southern region exports remaining flat YoY.
Pakistan Market Wrap: The benchmark index closed on a high note – By IIS Research

Jan 5 2026


Ismail Iqbal Securities


  • The benchmark index closed on a high note, once again registering fresh all time highs both intraday and at market close, as New Year optimism, strong liquidity driven buying, and ongoing asset class conversion continued to fuel market momentum. Trading volumes increased to 632mn shares today as compared to 512mn shares in the previous session. Today, the KSE-100 index gained 3,373 points to close at 182,408 level, up by 1.88% DoD. Commercial Banks, Fertilizer, and Cement sectors were the major contributors in today's session, cumulatively adding 2555 points to the index.
Pakistan Market Wrap: The benchmark index closed on a positive note – By IIS Research

Jan 1 2026


Ismail Iqbal Securities


  • The benchmark index closed on a positive note, kicking off the year with a strong start. All sectors demonstrated robust performance, with significant market activity observed across the board, reflecting investor optimism and a broad-based rally in stocks. Trading volumes increased to 799mn shares today as compared to 414mn shares in the previous session. Today, the KSE-100 index gained 2,301 points to close at 176,355 level, up by 1.32% DoD. Commercial Banks, Oil & Gas Exploration Companies, and pharmaceuticals sectors were the major contributors in today's session, cumulatively adding 1610 points to the index.
Pakistan Market Wrap: The benchmark index closed on a positive note – By IIS Research

Dec 30 2025


Ismail Iqbal Securities


  • The benchmark index closed on a positive note, registering a new all time high both intraday and at the close. The rally was largely driven by improved liquidity, with sentiment echoing past year end trends as investors positioned for a typical year end push. Trading volumes increased to 415mn shares today as compared to 360mn shares in the previous session. Today, the KSE-100 index gained 576 points to close at 174,473 level, up by 0.33% DoD. Oil & Gas Exploration Companies, Commercial Banks, and Oil & Gas Marketing Companies sectors were the major contributors in today's session, cumulatively adding 673 points to the index.
Morning News: Oil rises as market weighs Venezuela supply risks – By IIS Research

Dec 26 2025


Ismail Iqbal Securities


  • Oil prices climbed on Friday after the U.S. ordered increased economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of Nigeria's government. Brent crude futures rose 24 cents, or 0.4%, to $62.48 per barrel by 0114 GMT. U.S. West Texas Intermediate (WTI) crude was up 23 cents, also 0.4%, at $58.58.
  • Pakistan and the Asian Development Bank (ADB) signed two major initiatives — a power transmission strengthening project and an accelerating state-owned enterprise (SOE) transformation program totaling $730 million that would relieve overloading of existing transmission lines and improve operational efficiency.
Pakistan Market Wrap: The benchmark index closed on a flat note – By IIS Research

Dec 23 2025


Ismail Iqbal Securities


  • The benchmark index closed on a flat note, with the absence of positive triggers keeping investors cautious and prompting a wait and see approach for a fresh catalyst. Trading volumes decreased to 239mn shares today as compared to 327mn shares in the previous session. Today, the KSE-100 index lost 130 points to close at 171,074 level, down by -0.08% DoD. Oil & Gas Exploration Companies, Fertilizer, and Oil & Gas Marketing Companies sectors were the major laggards in today's session, cumulatively shedding 209 points from the index.
Morning News: Gold prices hit record highs in global, local markets – By IIS Research

Dec 23 2025


Ismail Iqbal Securities


  • Gold prices climbed to historic highs on Monday in both international and domestic markets, driven by strong safe-haven demand and sustained buying momentum.
  • Pakistan and Iraq agreed to move ahead with practical steps to expand bilateral cooperation, including efforts to raise trade volumes and establish direct banking channels.
Pakistan Market Wrap: The benchmark index closed relatively flat after a volatile session – By IIS Research

Dec 17 2025


Ismail Iqbal Securities


  • The benchmark index closed relatively flat after a volatile session. The market opened in positive territory, but early gains were eroded as volatility picked up toward the close, with banking stocks providing some cushion to limit the downside. Trading volumes decreased to 435mn shares today as compared to 475mn shares in the previous session. Today, the KSE-100 index lost 133 points to close at 170,314 level, down by -0.08% DoD. Cement, Oil & Gas Exploration Companies, and Fertilizer sectors were the major laggards in today's session, cumulatively shedding 512 points from the index.
Pakistan Market Wrap: The benchmark index closed on a slightly negative note after a volatile session – By IIS Research

Dec 16 2025


Ismail Iqbal Securities


  • The benchmark index closed on a slightly negative note after a volatile session. The market opened on a positive footing and registered a new all time intraday high as investors initially celebrated the surprise rate cut; however, gains were eroded later in the session as volatility picked up toward the close. Trading volumes increased to 475mn shares today as compared to 410mn shares in the previous session. Today, the KSE-100 index lost 294 points to close at 170,447 level, down by -0.17% DoD. Oil & Gas Exploration Companies, Fertilizer, and Cement sectors were the major laggards in today's session, cumulatively shedding 551 points from the index.
Pakistan Market Wrap: The benchmark index closed on a negative note – By IIS Research

Dec 11 2025


Ismail Iqbal Securities


  • The benchmark index closed on a negative note, remaining volatile throughout the session. Early on, the index crossed its all-time intraday high before retreating, with choppiness persisting as the day progressed. Trading volumes increased to 656mn shares today as compared to 497mn shares in the previous session. Today, the KSE-100 index lost 877 points to close at 168,575 level, down by -0.52% DoD. Cement, Fertilizer, and Commercial Banks sectors were the major laggards in today's session, cumulatively shedding 868 points from the index.
Morning News: Oil drops as US reports fall in crude stocks – By IIS Research

Dec 11 2025


Ismail Iqbal Securities


  • Oil prices fell on Wednesday as the US government reported a smaller than expected draw in crude stocks last week, while investors watched for progress in Russia-Ukraine peace talks and awaited a decision on US interest rates.
  • The growth outlook for Pakistan has improved for both 2025 and 2026, as the prices of key food items have begun to stabilize following a sharp increase in the months immediately after the floods, said the Asian Development Bank (ADB).