A flat finish to a flat week: KSE-100 edges 0.16% higher to 170,765 on dead-even breadth, the week closing 0.07% lower as CNERGY's 108m leads the declining side
KSE-100
170,765
+0.16%
KSE-30
50,814
+0.15%
KMI-30 (Shariah)
244,391
+0.08%
All-Share
103,241
+0.13%
Market Pulse
Friday's 483m tape leaned against the index as Tuesday's had: 279m traded in declining names against 191m in advancing ones on a day the KSE-100 rose. CNERGY was the most active name and nearly two-fifths of the declining side, falling 2.2% on 108m the day after its 5.9% drop on 158m, while PRL rose 1.1% on 28m and WTL 2% on 29m. The band tape turned lower: FPJM closed at limit-down on 21m, a second straight limit-down after Wednesday's limit-up and the first print of any size in the name, and TSBL gave back 4.8% on 22m after Thursday's 5.5% rise. KEL edged 0.2% higher on 18m after two heavy sessions lower. The advancing prints were small and spread: LOTCHEM up 1.7% on 6m, PSO 0.9% and SSGC 1.6% on 5m each, SNGP 2.8%, TRG 1.5% on 4m, MLCF 0.8% on 4m, BAFL 1.2% on 3m, NPL 2.2% and ACPL 2.3%. Against them, PACE fell 2.6% on 4m, AGHA 1.8% on 4m, KOSM 1.8%, PTC 1.6%, TPLP 1.5% and BOP 0.7% on 5m; OGDC was flat and PPL up 0.1%. The gainers list was led by ANLNV at 12.2%, a Rs 1-band name, ahead of PIM, DADX and DNCC at the 10% limit and SAPT at 9.7%; the losers were SGPL, CLVL, PPVC, ASTM and FPJM, all at limit-down.
Sector micro-analysis
Fourteen of 33 sectors closed higher and none closed without an advancer, with Apparel the one sweep higher at 0.2% on three of four names up. The index engines led what bid there was: Modarabas rose 0.76% with 10 of 19 higher, Commercial Banks 0.75% with 15 of 19 up on BAFL's 1.2%, Textile Composite 0.75% with 19 of 38, Cement 0.63% with 14 of 19 on MLCF's 0.8% and ACPL's 2.3%, Engineering 0.38%, Sugar and Allied 0.32%, the Exchange Traded Funds 0.23%, the Refinery sector 0.21% with PRL up 1.1% against CNERGY's 2.2% fall, and the E&Ps 0.07% with PPL up 0.1% and OGDC flat. The declines were mostly modest: Oil and Gas Marketing eased 0.05% despite SSGC's 1.6%, PSO's 0.9% and SNGP's 2.8%, Power Generation and Distribution 0.29% with eight of 16 up on NPL's 2.2%, Fertilizer 0.41%, Technology and Communication 0.41% with 13 of 21 lower despite WTL's 2% and TRG's 1.5%, Chemical 0.53% despite LOTCHEM's 1.7%, and the securities complex 0.55% with 19 of 34 down. The deeper falls were second-line: the Close-End Mutual Funds lost 2.04%, Transport 1.73% on a three-three split, Textile Spinning 1.29% with 25 of 39 lower, Property 1.1% on PACE's 2.6%, Leather and Tanneries 0.86% and Textile Weaving 0.83%.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Modarabas | +0.76% | 10 / 8 |
| Commercial Banks | +0.75% | 15 / 4 |
| Textile Composite | +0.75% | 19 / 10 |
| Cement | +0.63% | 14 / 5 |
| Textile Spinning | -1.29% | 10 / 25 |
| Transport | -1.73% | 3 / 3 |
| Close - End Mutual Fund | -2.04% | 1 / 2 |
Gainers
- ANLNV +12.20%
- PIM +10.00%
- DADX +10.00%
- DNCC +10.00%
- SAPT +9.70%
Losers
- SGPL -10.00%
- CLVL -10.00%
- PPVC -10.00%
- ASTM -10.00%
- FPJM -10.00%
Most active
- CNERGY 108m -2.20%
- WTL 29m +2.00%
- PRL 28m +1.10%
- TSBL 22m -4.80%
- FPJM 21m -10.00%
Market Action
Foreign (FIPI) net
−PKR 32m (−$117k)
Local (LIPI) net
+PKR 32m
Source: NCCPL FIPI/LIPI · settled 25 Sept 2026
Foreign investors were net sellers of PKR 32m (USD 0.1m); local investors were net buyers of PKR 32m. the internals read as a market catching its breath rather than choosing a direction. Breadth was dead even at 217 to 216, the sector split 14 up to 19 down, and the KSE-100's 0.16% gain came from the banks and cements advancing on small prints while the tape's weight sat on the declining side - 279m in falling names against 191m in rising ones, CNERGY's 108m at -2.2% alone nearly two-fifths of the down side, and without it the 191m in advancing names would have outrun the rest of the declining side. The band tape turned lower underneath, FPJM at limit-down on 21m and TSBL giving back 4.8% on 22m, and KEL went quiet on 18m after two heavy sessions lower. Foreign investors were net sellers of PKR 32m, a marginal print after Thursday's PKR 18m net buy - the ledger going quiet after Wednesday's PKR 547m net sell, the heaviest since 11 September, into the refinery surge.
Outlook
- •The week ended where it began: Friday's 0.16% gain to 170,765 left the index 0.07% lower on the week after the prior week's 0.22% gain - a second near-flat week, this one in which the market crossed the 24 July low of 171,021 in both directions and finished 0.15% under it, about 8.9% below the record and 1.66% above the correction low.
- •The refinery cycle has run its full course inside the week - a 3.01% sweep higher on Monday, 7.57% on Wednesday, 4.15% lower on Thursday - and Friday's split, PRL up 1.1% on 28m against CNERGY down 2.2% on 108m, leaves the complex's next direction open while the banks and cements carry the index on small prints.
- •Volume keeps running against the index: as on Tuesday, an up session put more volume through declining names than advancing ones, 279m against 191m, with the speculative fringe - FPJM, TSBL - unwinding on size while the engines rise quietly.
What to watch
- •Whether 171,021 is reclaimed again - Friday closed 0.15% below the 24 July low after three closes above it from Monday to Wednesday, with the 173,519 level abandoned on 8 September about 1.59% overhead
- •Whether CNERGY's selling extends - 108m at -2.2% on Friday after 158m at -5.9% on Thursday, the sector split with PRL rising while the complex's heaviest name falls
- •Whether foreign flows stay quiet - Thursday's PKR 18m net buy and Friday's PKR 32m net sell followed Wednesday's PKR 547m net sell, the heaviest since 11 September
- •USD/PKR, SBP rate signals and the global crude tape
Save or share this brief
Download the branded PDF or share the summary on WhatsApp.
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.