Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 10 2026


Al Habib Capital Markets


  • The benchmark KSE-100 Index witnessed a volatile session, touching an intraday high of 183,217 before closing at 182,154, down 187 points (-0.10%) amid profit-taking. Broad-based selling was observed across key sectors, particularly Banks, Technology & Communication, Oil & Gas Exploration, Power Generation, and Textile Composite.
  • On the macro front, remittances surged 15.4% to $3.5 billion in January, while an IMF review mission is expected in the last week of this month to initiate talks for the third review under the $7 billion Extended Fund Facility (EFF) and the potential release of a $1 billion fourth tranche. Among major laggards, HBL, TRG, KEL, AKBL, and BAFL collectively shaved 460.03 points off the index. In terms of volume, K-Electric (KEL) led activity with 253.68 million shares, while total market turnover stood at 1,057.65 million shares.
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.
Lucky Core Industries Limited (LCI): Corporate Briefing Notes – By Chase Research

Feb 13 2026



  • Lucky Core Industries Limited reported earnings per share (EPS) of PKR 120.62 in FY24, compared to PKR 149.12 in FY23. In 1QFY25, the company posted an EPS of PKR 28.10, slightly higher than PKR 27.21 in the same period last year.
  • The polyester and pharmaceutical segments performed well during the year, driving improved operating performance.
Pakistan Economy: MSCI Feb’26 Quarterly Index Review – By Foundation Research

Feb 11 2026


Foundation Securities


  • MSCI, the leading global provider of research-based indexes and analytics, earlier today announced the results of its Feb’26 Frontier Markets Quarterly Index Review. All changes will be implemented from 27th February 2026.
  • We believe the slightly decreased weight of Pakistan in MSCI Frontier Market Indices after the above deletions would have a mildly negative impact on foreign flows. To highlight, foreigners have been net sellers of US$337.0Mn FY26TD against foreign selling of US$304.4Mn in FY25.
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.
Morning News: Pakistan receives $3.5bn in remittances in January 2026 – By HMFS Research

Feb 11 2026


HMFS Research


  • The inflow of overseas workers’ remittances into Pakistan stood at $3.46 billion in January 2026, the State Bank of Pakistan (SBP) data showed on Tuesday. Remittances increased by nearly 15.4% year-on-year (YoY), compared to $3.0 billion recorded in the same month last year. Monthly remittances were down 4% from $3.59 billion in December. During the first seven months of the fiscal year (7MFY26), remittance inflows stood at $23.2 billion, up from $20.9 billion in 7MFY25, a jump of 11.3%.
  • Prime Minister Shehbaz Sharif on Tuesday said Pakistan and Kuwait share strong brotherly relations, which were set to further strengthen through bilateral economic, investment and trade cooperation. He made the remarks while addressing a ceremony in Islamabad in connection with the issuance of a digital licence to Raqami Islamic Digital Bank. The prime minister congratulated Raqami Islamic Digital Bank on becoming the third licenced digital retail bank in Pakistan. He expressed hope that the bank would not only be Sharia-compliant but would also offer features that would significantly support and promote the growth of banking in the country. “This development will go a long way in further enhancing bilateral economic relations between Pakistan and Kuwait,” the prime minister said.
Pakistan Market Wrap: View from the Desk – By JS Research

Feb 10 2026


JS Global Capital


  • The KSE-100 Index witnessed a volatile session today, losing 187 points to close at 182,153 level. Investor sentiment was ignited by the State Bank of Pakistan’s upward revision of the FY26 GDP growth forecast to arrange of 3.75% – 4.75%, coupled with robust January remittance inflows of US$ 3.5 billion. Declining inflation and easing monetary policy suggest further upside, though the index may face technical resistance near the 185,000mark.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 10 2026


Al Habib Capital Markets


  • The benchmark KSE-100 Index witnessed a volatile session, touching an intraday high of 183,217 before closing at 182,154, down 187 points (-0.10%) amid profit-taking. Broad-based selling was observed across key sectors, particularly Banks, Technology & Communication, Oil & Gas Exploration, Power Generation, and Textile Composite.
  • On the macro front, remittances surged 15.4% to $3.5 billion in January, while an IMF review mission is expected in the last week of this month to initiate talks for the third review under the $7 billion Extended Fund Facility (EFF) and the potential release of a $1 billion fourth tranche. Among major laggards, HBL, TRG, KEL, AKBL, and BAFL collectively shaved 460.03 points off the index. In terms of volume, K-Electric (KEL) led activity with 253.68 million shares, while total market turnover stood at 1,057.65 million shares.
Pakistan Market Wrap: The benchmark index closed on a flat note – By IIS Research

Feb 10 2026


Ismail Iqbal Securities


  • The benchmark index closed on a flat note after a volatile trading session, with early selling pressure weighing on the market. However, a modest recovery from the day’s low was observed toward the close of the session. Trading volumes increased to 636mn shares today as compared to 598mn shares in the previous session. Today, the KSE-100 index lost 187 points to close at 182,154 level, down by -0.10% DoD. Banks, Technology, and E&Ps sectors were the major laggards in today's session, cumulatively shedding 727 points from the index.
Pakistan Market Wrap: KSE-100 closes at 182,154 down 187 points – By Alpha-Akseer Research

Feb 10 2026


Alpha Capital


  • The equity market opened strongly but could not sustain upward momentum as the session progressed. The KSE-100 Index experienced heightened volatility, moving between a low of 181,499 and an intraday high of 183,217, before closing at 182,154—down 187 points. Total volumes on the main board reached 631.6 million shares, with a cumulative traded value of PKR 29.5 billion.
  • The decline in the index was primarily led by HBL (-2.5%, -169 points), MEBL (-9.3%, -86 points), KEL (-8.4%, -74 points), AKBL (-4.2%, -67 points), and BAFL (-2.1%, -64 points). In terms of market activity, KEL and CNERGY led volumes, trading 253 million and 189 million shares, respectively.
Pakistan Economy: 7MFY26 Remittances clock in at US$23.2bn; +11% YoY – By JS Research

Feb 10 2026


JS Global Capital


  • Pakistan recorded monthly remittance inflow of US$3.5bn in Jan-2026, reflecting a 15% YoY increase. Cumulatively, during 7MFY26, overseas Pakistanis remitted US$23.2bn, marking an 11% YoY growth.
  • UAE remittances have regained momentum in recent months, with their share at 20% in Jan-2026 from a low of 17% in 1HFY24. Combined inflows from KSA and the UAE accounted for 41% of total remittances in Jan-2026, although KSA inflows recorded a slight dip during the month.
  • Remittances have played a pivotal role in stabilizing Pakistan’s external account, consistently offsetting the trade deficit. Their role has become even more important as external pressures resurface.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 10 2026


Al Habib Capital Markets


  • The benchmark KSE-100 Index witnessed a volatile session, touching an intraday high of 183,217 before closing at 182,154, down 187 points (-0.10%) amid profit-taking. Broad-based selling was observed across key sectors, particularly Banks, Technology & Communication, Oil & Gas Exploration, Power Generation, and Textile Composite.
  • On the macro front, remittances surged 15.4% to $3.5 billion in January, while an IMF review mission is expected in the last week of this month to initiate talks for the third review under the $7 billion Extended Fund Facility (EFF) and the potential release of a $1 billion fourth tranche. Among major laggards, HBL, TRG, KEL, AKBL, and BAFL collectively shaved 460.03 points off the index. In terms of volume, K-Electric (KEL) led activity with 253.68 million shares, while total market turnover stood at 1,057.65 million shares.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 6 2026


Al Habib Capital Markets


  • The benchmark KSE-100 Index witnessed a volatile session, touching an intraday high of 188,036 before closing at 184,310 down 3,703 points, or (-1.93% ) amid profit taking. The announcement of the Supreme Court case regarding NBP’s pension funds triggered selling pressure, as investors anticipated lower dividend payouts following potential cash outflows for pension fund payments. Furthermore, Barrick Gold’s board is reviewing all aspects of a gold and copper project in the Balochistan region due to security concerns, including capital allocation, as CEO Mark Hill stated during a post-earnings call. Additionally, the upcoming third IMF review at the end of the current month exerted pressure, reflecting concerns over slower progress on required economic reforms.
  • The uncertain geopolitical climate also dampened investor sentiment. Selling pressure was concentrated in Commercial Banks, Fertilizer, and Exploration & Production (E&P) stocks, due to a lack of fresh positive catalysts. High stakes Iran US negotiations over Tehran’s nuclear program commenced in Oman, with lingering disagreements raising fears of prolonged Middle East tensions. Major laggards such as NBP, FFC, PPL, UBL, and MEBL collectively dragged the index down by 1,573.11 points. On the volume front, K-Electric KEL led trading activity with 517.82 million shares, while the total market turnover stood at 1,266.28 million shares.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 4 2026


Al Habib Capital Markets


  • The benchmark KSE-100 Index continued its upward momentum, surging to an intraday high of 188,312 before settling at a new all-time high of 187,832, registering a gain of 931 points (0.50%). Gains were driven by broad-based buying, led by Commercial Banks with selective strength in Power Generation & Distribution.
  • On the macro front, Pakistan and Kazakhstan signed 36 agreements and MoUs across multiple sectors, including petroleum, mining, and maritime affairs, with the Prime Minister reiterating the $1bn bilateral trade target. In terms of index contribution, MEBL, ENGROH, NBP, UBL, & HMB, emerged as key drivers, collectively adding 739.61 to the benchmark. On the volumes front, KEL led activity with 590.87 million shares; while overall market turnover stood at 1,193.66 million shares, reflecting healthy participation.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 3 2026


Al Habib Capital Markets


  • The Pakistan Stock Exchange’s (PSX) KSE-100 Index extended its upward momentum, hitting an intraday high of 187,519 before closing at 186,901, up 1,843 points (+1.00%). The rally was driven by broad-based buying in Commercial Banks, Fertilizer, Technology, Pharmaceuticals, and Textile composite sectors. Sentiment was further supported by strengthened trade and investment cooperation between Pakistan and Uzbekistan, Moreover, hopes of a de-escalation in US-Iran tensions. In terms of index contribution FFC, UBL, ENGROH, MEBL, and SYS collectively added 734.81 points. On the volume front, KEL led trading with 99.51 million shares, while total market turnover stood at 846.50 million shares.
Interloop Limited (ILP): Result Preview 2QFY26 – By AHCML Research

Feb 3 2026


Al Habib Capital Markets


  • Interloop Ltd (ILP) is scheduled to announce its financial results for 2QFY26 on February 4, 2026. Interloop Ltd (ILP) reports robust 2QFY26 results with PAT surging 124% YoY to PKR2,580mn, driven by strong sales growth, improved gross margins, and a significant reduction in finance costs. However, PAT declined 7.8% QoQ due to gross margin compression from lower international textile prices and adverse currency movements, which outweighed a sequential sales increase and led to declines in operating and pre-tax profit.
  • We reiterate our Buy recommendation with Target Price of PKR115 per share, reflecting confidence in the company's continued execution and growth prospects.
Lucky Cement Limited (LUCK): Analyst Briefing 2QFY26 Highlights – By AHCML Research

Feb 3 2026


Al Habib Capital Markets


  • LUCK has held an analyst briefing yesterday to discuss its financial results and future outlook. Below are the key takeaways from the briefing.
  • Pakistan cement domestic demand grew 12.5% YoY in 1HFY26 and Lucky Cement 1HFY26 sales increased to 3.36mn tons vs. 2.98mn tons in 1HFY25.
  • Approximately 56 - 57% of Lucky Cement’s energy mix comes from renewables, comprising 89.3 MW of solar capacity (including a planned 15 MW addition by Mar’26) and 28.8 MW of wind power. The remaining renewable contribution is generated through WHR systems.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Feb 2 2026


Al Habib Capital Markets


  • The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index extended its upward momentum, touching an intraday high of 185,612 before closing at 185,058, up 883 points (+0.48%). The rally was driven by broad-based buying, led by Commercial Banks, Oil & Gas Exploration, Automobiles, Technology, and Power Generation stocks.
  • Sentiment was further supported by the Prime Minister’s acknowledgment of the World Bank’s role in advancing Pakistan’s economic development, along with Wafi Energy’s plan to invest up to US$100 million in Pakistan over the next 2–3 years. In terms of index contribution, UBL, ENGROH, SYS, FATIMA, and SAZEW collectively added 893.66 points. On the volume front, FNEL led trading with 191.18 million shares, while total market turnover stood at 737.64 million shares.
Morning News: Govt, Standard Chartered Bank hold virtual roadshow to woo investors – By AHCML Research

Jan 30 2026


Al Habib Capital Markets


  • The virtual investor roadshow arranged by Standard Chartered Bank, in collaboration with the Debt Management Office, Ministry of Finance and Revenue, marked a historic and unprecedented level of engagement with Pakistan’s investment narrative, said Advisor to the Federal Finance Minister Khurram Schehzad.
  • High-lighting the government’s long-term vision, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that under the “URAAN Pakistan” initiative, the national target has been set to transform Pakistan into a one-trillion-dollar economy by 2035. The Minister expressed these views while chairing the mid-year review meeting of the Annual Plan 2025–26.
Pakistan Economy: MPC Jan’26 - 50 bps Cut to Signal Pro-Growth Shift – By AHCML Research

Jan 23 2026


Al Habib Capital Markets


  • The State Bank of Pakistan is projected to cut its policy rate by 50 bps to 10.0% in its January 2026 meeting. This move is primarily driven by a sustained ease in inflation, a marked improvement in external buffers, continued stability in the currency, and a market-led decline in government bond yields, which together create a compelling case for further monetary easing.
  • Headline CPI inflation for Dec’25 stood at 5.6% YoY, maintaining its position within the SBP’s 5-7% medium-term target for the sixth consecutive month. More importantly, the CPI contracted by 0.4%MoM, signaling strengthening near-term disinflationary momentum.
Pakistan Market Wrap: Evening Chronicle – By AHCML Research

Jan 22 2026


Al Habib Capital Markets


  • The KSE-100 Index experienced a volatile session, hitting an intraday high of 188,106.82 before closing at 187,688.16, up 655 points (0.35%) as profit-taking persisted. Gains for the day were led by the Energy, ENGROH, Cement and Fertilizer sector. In a key development, foreign assistance to Pakistan during 1HFY26 increased 20% YoY to USD 4.51bn.
  • Data from the Economic Affairs Division shows bilateral loans and grants at USD 1.07bn, while multilateral disbursements reached USD 1.97bn during Jul–Dec FY26. On the corporate front, Nestlé reaffirmed its long-term commitment to Pakistan, announcing an additional USD 60mn investment as part of its planned expansion of local operations. In terms of index contribution, ENGROH, HUBC, EFERT, ATRL and AICL, emerged as key drivers, collectively adding 606.46 to the benchmark. KEL led trading with 195.89 million shares, as total market turnover reached 1,066.28mn shares.