The drift lower resumes: KSE-100 falls 0.48% to 169,600, its lowest close since 17 September, as 303 names decline and the band tape carries what bid there is
KSE-100
169,600
-0.48%
KSE-30
50,457
-0.51%
KMI-30 (Shariah)
242,900
-0.49%
All-Share
102,686
-0.36%
Market Pulse
Tuesday's 568m tape was heavier than Monday's 421m and split almost evenly, 273m in advancing names against 282m in declining ones, on a day 303 names fell - the advancing volume concentrated in a handful of low-priced runners. CNERGY was the most active name, falling 1.7% on 57m, with TISL close behind at 56m and 5.5% higher after Monday's 7.6%. KEL rose 0.5% on 35m, SGPL ran 9.1% higher on 30m after limit-down closes on Thursday, Friday and Monday, MDTL eased 0.4% on 21m, WAVESAPP rose 0.7% on 20m, DSIL 9.9% on 20m and PRL fell 1.9% on 20m. LOTCHEM jumped 5.5% on 14m, TRG was flat on 12m the day after its limit-up close, and WTL fell 2.9% on 10m. TPLP rose 2.5% on 8m against PIBTL's 2.5% fall on 7m; BOP eased 0.6% on 6m and MLCF 0.8% on 5m. The heavyweights were lower on small size - PPL down 1.4%, HBL 0.7%, SSGC 1.3%, FCCL 1.2%, NPL 1.9%, KOHC 2.2% - with NETSOL off 3.1% and AIRLINK 2.9% in a weak technology group, and NRL up 2.1% on 4m and ATRL 0.4% the two refinery names higher. The gainers list was five names at the 10% limit - POWERPS for a second straight session, ASTM, FIMM, SSOM and SINDM; the losers were PKGI at limit-down, FIL off 9.4%, FCIBL 6.9%, GEMPACRA 6.1% and SAPT 5.3%.
Sector micro-analysis
Ten of 33 sectors closed higher and three closed without an advancer. Modarabas led at 3.26% with 13 of 20 higher, well clear of Textile Spinning at 1.15% with 17 of 41 up, Synthetic and Rayon 0.9%, Transport 0.58% on CLVL's limit-up close despite four of six lower, the Real Estate Investment Trusts 0.32%, Pharmaceuticals 0.23% with ten of 14 down, Property 0.12% on TPLP's 2.5% against PACE's 1.7%, Cement 0.09% with 13 of 19 lower - MLCF 0.8%, FCCL 1.2%, KOHC 2.2% - Commercial Banks 0.04% on a seven-up, twelve-down split with BOP off 0.6% and HBL 0.7%, and Textile Weaving 0.03%. The falls were broad and shallow: Chemical eased 0.03% with 17 of 25 lower despite LOTCHEM's 5.5%, Power Generation and Distribution 0.26% with 11 of 16 down on NPL's 1.9% and NCPL's 0.9% against KEL's 0.5%, the Refinery sector 0.27% on its two-two split - CNERGY 1.7% and PRL 1.9% lower, NRL 2.1% higher - Engineering 0.32%, Fertilizer 0.32%, the securities complex 0.35% with 23 of 34 lower, Insurance 0.45%, Textile Composite 0.62% with 20 of 38 down, the E&Ps 0.67% with all four lower on PPL's 1.4%, Oil and Gas Marketing 0.71% with nine of ten down on SSGC's 1.3%, Technology and Communication 0.79% with 16 of 22 lower on NETSOL's 3.1%, AIRLINK's 2.9% and WTL's 2.9%, Apparel 0.96% with three of four lower and none higher, Sugar and Allied 1.19% with 17 of 27 down, and Leather and Tanneries 2.09% with five of six lower and none higher.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Modarabas | +3.26% | 13 / 7 |
| Textile Spinning | +1.15% | 17 / 22 |
| Synthetic & Rayon | +0.90% | 3 / 1 |
| Transport | +0.58% | 2 / 4 |
| Apparel | -0.96% | 0 / 3 |
| Sugar & Allied Industries | -1.19% | 6 / 17 |
| Leather & Tanneries | -2.09% | 0 / 5 |
Gainers
- POWERPS +10.00%
- ASTM +10.00%
- FIMM +10.00%
- SSOM +10.00%
- SINDM +10.00%
Losers
- PKGI -10.00%
- FIL -9.40%
- FCIBL -6.90%
- GEMPACRA -6.10%
- SAPT -5.30%
Most active
- CNERGY 57m -1.70%
- TISL 56m +5.50%
- KEL 35m +0.50%
- SGPL 30m +9.10%
- MDTL 21m -0.40%
Market Action
Foreign (FIPI) net
−PKR 133m (−$479k)
Local (LIPI) net
+PKR 133m
Source: NCCPL FIPI/LIPI · settled 29 Sept 2026
Foreign investors were net sellers of PKR 133m (USD 0.5m); local investors were net buyers of PKR 133m. the internals read as two markets again - the index names drifting lower on small prints while the speculative tape ran. Breadth was 154 to 303, the weakest since Thursday's rout, and every engine sector was flat or lower, yet the volume split was nearly even at 273m advancing against 282m declining because the bid sat in the band names: TISL's 56m at +5.5%, SGPL's 30m at +9.1% reversing three limit-down sessions, DSIL's 20m at +9.9% and LOTCHEM's 14m at +5.5% were four of the six heaviest advancing prints, with KEL's 35m at +0.5% the one index name among them and WAVESAPP's 20m at +0.7% the other. The refinery complex was split and quiet after Monday's sweep, CNERGY's 57m at -1.7% the heaviest print of the day and PRL lower with it. Foreign selling picked up again on Monday - a PKR 99m net sell after Thursday's PKR 18m net buy and Friday's PKR 32m net sell - the third net sell in four sessions since Wednesday's PKR 547m, and the ledger for Tuesday's fall is the open question.
Outlook
- •The retreat's drift has resumed: two straight declines have taken the index 0.68% lower this week to 169,600, its lowest close since 17 September, about 0.83% under the 24 July low of 171,021 for a fourth straight session and 0.97% above the 14 September correction low, with the market back within 0.53% of the 10% line at 168,710.
- •The index and the tape have separated: 303 names fell and every engine sector was flat or lower, yet advancing volume nearly matched declining volume because four band names - TISL, SGPL, DSIL and LOTCHEM - supplied most of the bid, a pattern that has now held on both of this week's down sessions - the mirror image of Friday, when the fringe carried the size on the way down while the engines rose on small prints.
- •The refinery complex has gone quiet after Monday's sweep - a two-two split on CNERGY's 57m, its first decline since Thursday - leaving the index without the engine that has driven its swings since August, while the banks and cements idle at flat.
What to watch
- •Whether the correction low of 167,971 comes back into play - Tuesday's 169,600 is 0.97% above it and 0.53% above the 10% line at 168,710, after four straight closes below the 24 July low
- •Whether the band runners carry on or reverse - TISL up 5.5% on 56m after Monday's 7.6%, SGPL swinging from three limit-downs to +9.1% on 30m, DSIL and POWERPS at or near the limit
- •Whether foreign selling builds - Monday's PKR 99m net sell followed Thursday's PKR 18m net buy and Friday's PKR 32m net sell, after Wednesday's PKR 547m net sell, the heaviest since 11 September
- •USD/PKR, SBP rate signals and the global crude tape
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