The slide becomes a rout: KSE-100 drops 1.79% to 168,865.04, its deepest fall since 14 July, with 405 names lower and the engine sectors red across the board
KSE-100
168,865.04
-1.79%
KSE-30
50,247.11
-1.81%
KMI-30 (Shariah)
239,393.53
-2.13%
All-Share
102,295.04
-1.94%
Market Pulse
Thursday's 629m tape was one-way: 575m of it traded in declining names, the most lopsided session since late August, and the heaviest prints were the familiar names all falling together. CNERGY turned 99m at -5.28% and PRL 28m at -6.07% as the refinery unwind resumed, KEL fell 3.13% on 28m, WTL 2.68% on 25m, ASL gave back 2.92% on 17m, BOP fell 2.8% on 15m and PIBTL 5.91% on 15m. The cement names went with the board - MLCF down 3.62%, THCCL 4.54% giving back Wednesday's rise, DGKC 4.02% - and SSGC dropped 6.53% on 7m. TISL was the session's outlier, rising 6.80% on 41m against 405 decliners, with MDTL easing 1.90% on 29m after its round trip. At the fringe, WAVESAPPR swung 29.03% lower inside its band, and the gainers list was all low-priced band names - CHBL, PIM, SHCM - none on volume of consequence.
Sector micro-analysis
Two of 34 sectors closed higher - Apparel at 1.17% and Synthetic and Rayon at 0.21%, neither on meaningful volume - and the selling deepened down the list. Cable and Electrical Goods fell 7.04% with all eight names lower, the Close-End Mutual Funds 5.76%, Transport 4.97% on PIBTL's 5.91%, and the Refinery sector 4.07% in a clean sweep - its fourth lower in six sessions - with PRL down 6.07% and CNERGY 5.28%. Oil and Gas Marketing lost 3.38% and Paper, Board and Packaging 3.3%, both without an advancer. The engines were uniformly red: Technology and Communication fell 2.43% with none of 20 names up, Cement 2.12% with 16 of 18 lower, Fertilizer 2.13% in a sweep, Power Generation and Distribution 1.88%, Commercial Banks 1.83% with all 19 names down - MEBL off 3.58%, BOP 2.8% - the E&Ps 1.69% and Insurance 1.34% with 21 of 27 lower. Food and Personal Care Products swept all 22 traded names lower for a 2.22% fall.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Apparel | +1.17% | 2 / 2 |
| Synthetic & Rayon | +0.21% | 1 / 2 |
| Glass & Ceramics | -0.36% | 2 / 5 |
| Textile Weaving | -1.22% | 1 / 4 |
| Transport | -4.97% | 1 / 5 |
| Close - End Mutual Fund | -5.76% | 0 / 3 |
| Cable & Electrical Goods | -7.04% | 0 / 8 |
Most active
- CNERGY 99m Rs 12.37 -5.28%
- TISL 41m Rs 4.24 +6.80%
- MDTL 29m Rs 6.70 -1.90%
- PRL 28m Rs 80.93 -6.07%
- KEL 28m Rs 6.81 -3.13%
Gainers
- CHBL Rs 10.92 +10.08%
- PIM Rs 68.48 +9.99%
- SHCM Rs 60.58 +10.01%
- ELCM Rs 230.11 +10.00%
- SLYT Rs 18.37 +10.00%
Losers
- WAVESAPPR Rs 0.22 -29.03%
- OBOY Rs 15.99 -10.02%
- ASTM Rs 91.23 -10.00%
- MACFL Rs 62.00 -10.00%
- BUXL Rs 927.32 -10.00%
Market Action
Foreign (FIPI) net
−PKR 80.93m (−$292.16k)
Local (LIPI) net
+PKR 80.93m
Source: NCCPL FIPI/LIPI · settled 10 Sept 2026
Foreign investors were net sellers of PKR 80.93m (USD 0.3m); local investors were net buyers of PKR 80.93m. the internals read as the drift turning into distribution at last. After Wednesday's thin 478m crawl, the selling came back with weight: down-volume of 575m was nearly eleven times the 53m in advancing names - the most one-sided split since late August - and it reached everywhere at once, thirteen sectors closing without a single advancing name. The concentrated unwinds that led the market down for a week became general selling: the refinery complex's 131m of declining volume was less than a quarter of the down side, the banks swept red as a bloc for the first time since 17 July, and no corner absorbed it - the whole advancing side of the session was 53m, less than CNERGY's print alone. TISL's 41m at +6.80% was the only meaningful bid on the board.
Outlook
- •The retreat found a new floor to look for: 168,865.04 is the deepest close since the 6 July record - through the 24 July low of 171,021.20 by about 1.26% - with the record now roughly 9.9% away and the four-session slide at about 3.69%.
- •The character changed from drift to distribution: after Wednesday's 478m crawl, Thursday put 575m through declining names - nearly eleven times the advancing side - with 405 of 499 names lower, thirteen sectors without an advancer, and the banks swept red as a bloc.
- •The refinery unwind resumed inside the rout rather than leading it - a fourth clean sweep lower in six sessions on CNERGY's 99m and PRL's 6.07% fall - while the day's only meaningful bid was TISL's 41m, the band runner now trading against the entire market's direction.
What to watch
- •Where the selling exhausts - 168,865.04 is below every close of the retreat, with the next widely watched reference the 10% mark from the record, roughly 168,710
- •Whether the banks' bloc sweep extends - all 19 names fell for the first time since 17 July, led by MEBL's 3.58% and BOP's 2.8%
- •Whether the rout drew foreign selling - flows through Wednesday were near-flat, a PKR 30.51m net sell on Tuesday and a PKR 84.51m net buy on Wednesday, leaving the week's selling local so far
- •USD/PKR, SBP rate signals and the global crude tape
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