Two tapes, one close: KSE-100 adds 0.23% to 175,328.82, sealing a 1.33% weekly decline, as the refineries fall 3.78% and the board rises around them
KSE-100
175,328.82
+0.23%
KSE-30
52,294.82
+0.21%
KMI-30 (Shariah)
250,239.14
+0.27%
All-Share
106,442.83
+0.22%
Market Pulse
Friday's 874m tape ran heavier than Thursday's 627m and split cleanly down its middle. The refinery complex supplied the selling: CNERGY turned 149m falling 3.73%, PRL 59m falling 6.00% as its two-session hold above the circuit-won level gave way, with NRL down 1.97% and ATRL 3.44% - the sector's second straight 0-up, 4-down sweep. The buying spread everywhere else: TISL ran its Rs 1 band a third time, up 10.66% on 132m - second only to CNERGY on the day - while ASL followed Thursday's circuit with 3.24% on 35m, TELE rose 2.11% on 16m, BOP 1.42% on 13m, MLCF 2.42% on 10m and THCCL 2.67% on 11m. PACE added 4.30% on 7m, AKBL 2.42% on 4m and KOSM 2.96% on 6m, with WTL flat on 79m between the two tapes. At the fringe, FPJM fell the full 9.98% on 22m a second straight session, while LSEFSL and MDTL ran their low-priced bands 35.6% and 17.7% higher.
Sector micro-analysis
Twenty-one of 34 sectors closed higher and the one that did not matter most fell hardest. The Refinery sector's 3.78% drop - no advancers for a second straight session - was the deepest sector fall of the week, PRL's 6.00% its sharpest fall since the circuit run began. The green side was broad and moderate: Leather and Tanneries led at 1.87%, Miscellaneous added 1.71% on TISL's jump, Transport 1.55%, and the securities complex 1.49% with 17 of 29 names higher, its firmest session of September. Technology and Communication rose 1.18% on TELE's 2.11%, Property 1.2% on PACE's 4.30%, Oil and Gas Marketing 0.8% with seven of nine up on SSGC's 1.67%, and the E&Ps 0.5%. Cement added 0.38% with 11 of 18 higher on MLCF and THCCL, and Commercial Banks 0.16% with 12 of 19 up as BOP and AKBL firmed. The declines beyond the refineries were slight: Cable and Electrical Goods 0.91%, Fertilizer 0.68% and Apparel 0.5%.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Leather & Tanneries | +1.87% | 3 / 2 |
| Miscellaneous | +1.71% | 10 / 8 |
| Transport | +1.55% | 3 / 3 |
| Inv. Banks / Inv. Cos. / Securities Cos. | +1.49% | 17 / 9 |
| Fertilizer | -0.68% | 1 / 4 |
| Cable & Electrical Goods | -0.91% | 3 / 4 |
| Refinery | -3.78% | 0 / 4 |
Most active
- CNERGY 149m Rs 13.92 -3.73%
- TISL 132m Rs 4.36 +10.66%
- WTL 79m Rs 1.12 0.00%
- PRL 59m Rs 98.71 -6.00%
- ASL 35m Rs 16.59 +3.24%
Gainers
- LSEFSL Rs 3.66 +35.56%
- MDTL Rs 6.66 +17.67%
- TISL Rs 4.36 +10.66%
- PPVC Rs 38.04 +10.01%
- LEUL Rs 79.73 +10.00%
Losers
- ASTM Rs 118.31 -10.00%
- TICL Rs 1,025.09 -10.00%
- FPJM Rs 20.84 -9.98%
- ASLCPS Rs 95.75 -7.93%
- ADMM Rs 55.81 -7.25%
Market Action
Foreign (FIPI) net
−PKR 198.20m (−$715.53k)
Local (LIPI) net
+PKR 198.20m
Source: NCCPL FIPI/LIPI · settled 4 Sept 2026
Foreign investors were net sellers of PKR 198.20m (USD 0.7m); local investors were net buyers of PKR 198.20m. the internals read as the market rotating out of its August engine rather than retreating. Up-volume of 459m ran well ahead of the 327m in declining names and 21 sectors rose, yet the two heaviest falling prints of the session - CNERGY's 149m and PRL's 59m - were both refinery names, the complex that made the month's tape now supplying its down-volume for a second straight session. The bid moved to the periphery and the second line: TISL's 132m band run, ASL's 35m follow-through, real cement prints in MLCF and THCCL and a firming securities complex. NCCPL's ledger turned with the tape: after seven straight net sells totalling roughly PKR 4.8bn, foreign investors flipped to a PKR 83m net buy on Thursday - the session the slide stopped - with local investors taking the other side for the first time in eight sessions.
Outlook
- •The week closed 1.33% lower at 175,328.82 - the third weekly decline in four - but ended with two straight gains and the reclaimed 173,518.81 floor untested, about 1.04% below Friday's close, the record roughly 6.47% away.
- •The refinery unwind has become a capitulation: a second straight clean sweep took the sector down 3.78%, its deepest fall of the week, with PRL surrendering the circuit-won level it defended for two sessions and CNERGY's 149m still the heaviest print on the tape.
- •The board is absorbing the unwind rather than following it - 21 of 34 sectors rose, the securities complex had its firmest session of September and the foreign ledger flipped to a PKR 83m net buy on Thursday after seven sells - a rotation, so far, rather than a retreat.
What to watch
- •Whether the floor stays untested into the new week - two straight gains left the cushion at about 1.04% with the week still 1.33% lower
- •Whether the refinery capitulation exhausts itself - two clean sweeps lower in two sessions took the sector down about 5% between them, with PRL's 6.00% fall on 59m the sharpest of its run
- •Whether the foreign flip holds - NCCPL showed a PKR 83m net buy on Thursday, ending seven straight sells of roughly PKR 4.8bn, with Friday's posting the next signal
- •USD/PKR, SBP rate signals and the global crude tape
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Produced by Wealth Street - a SECP-regulated PSX & PMEX broker - for information and education only. Not investment advice or a solicitation. Figures are derived from the PSX data portal and presented as Wealth Street commentary, not a redistributed data feed; breadth and sector stats cover the tracked large-cap universe. Flows are directional estimates unless attributed to NCCPL FIPI/LIPI data. Please read our Risk Disclosure.