September closes 3.96% lower: KSE-100 adds 0.22% to 169,969 on the month's last session as 251 names advance, the cements and banks firm and KOSM runs 15.5% on 58m
KSE-100
169,969
+0.22%
KSE-30
50,644
+0.37%
KMI-30 (Shariah)
243,609
+0.29%
All-Share
102,893
+0.20%
Market Pulse
Wednesday's 591m tape ran 374m in advancing names against 185m in declining ones, two to one, and its heaviest prints were the transport and textile runners rather than the refineries. PIBTL was the most active name, up 0.8% on 73m, with KOSM close behind at 58m and 15.5% higher, its Rs 1 band allowing the move on a Rs 4.96 stock. TISL fell 1.7% on 51m after two sessions of gains, CNERGY edged 0.2% higher on 28m and PRL 0.5% on 18m as the refinery complex swept higher on NRL's 2.9%, and DSIL rose 9.8% on 22m. AHCL traded 18m at +0.6%, SGPL gave back 7.3% on 17m after Tuesday's 9.1% rise, WTL eased 1% on 17m and FNEL was flat on 14m; OBOY closed at the 10% limit on 12m and YOUW rose 7.7% on 12m, while MDTL fell 3.3% on 10m. The index names moved little on small size: KEL, BOP, DGKC, SSGC and NCPL all flat, MLCF up 0.4% on 4m, FCCL 0.8%, BAFL 0.9%, UBL 0.2%, KOHC 1.9% and ACPL 3.3%, against OGDC off 0.3%, PPL 0.4% and HUBC 0.6%. TPLP added 2.4% on 7m and ASL 1.7% on 4m; LOTCHEM gave back 3.3% on 5m, TRG 2.1%, ASTL 3.7% and GGL 2.2%. The gainers list was led by CTM at 16%, a Rs 1 move on a Rs 6.26 stock, and KOSM at 15.5%, with SPAC1, TSMF and SINDM at the 10% limit; the losers were ASHT and GCWLPRS at limit-down, GEMBCEM off 9.3%, TICL 9.1% and PSEL 8.9%.
Sector micro-analysis
Twenty-one of 33 sectors closed higher, none closed without an advancer, and three swept higher outright: the Close-End Mutual Funds at 3.73% with all three names up, the Refinery sector at 0.98% with all four - NRL 2.9%, PRL 0.5%, CNERGY 0.2% - and the Exchange Traded Funds at 0.64% with all nine. Textile Spinning rose 2.54% with 23 of 41 higher on KOSM's 15.5%, Modarabas 2.13% with 14 of 20, Leather and Tanneries 1.41% with five of six up, and the Real Estate Investment Trusts 1.03%. The engines were firm across the board: Cement rose 1.26% with 16 of 19 higher - ACPL 3.3%, KOHC 1.9%, FCCL 0.8%, MLCF 0.4% - Oil and Gas Marketing 1.06% with six of ten up, Fertilizer 0.94% on FATIMA's 3.1%, Commercial Banks 0.82% with 14 of 19 up on BAFL's 0.9%, the securities complex 0.74% with 17 of 33, Engineering 0.74% on ASL's 1.7% despite ASTL's 3.7% fall, and the E&Ps 0.11% with OGDC and PPL both slightly lower. Twelve sectors fell, none by 1%: Transport eased 0.94% on a three-three split despite PIBTL's 0.8% rise, Food and Personal Care Products 0.93% with 18 of 26 lower, Chemical 0.91% with 16 of 26 down on LOTCHEM's 3.3% and GGL's 2.2%, Cable and Electrical Goods 0.86%, Miscellaneous 0.72%, Insurance 0.48%, Technology and Communication 0.27% with 12 of 21 lower on TRG's 2.1% and WTL's 1%, Power Generation and Distribution 0.22% on a seven-seven split with KEL flat and HUBC off 0.6%, and Pharmaceuticals 0.12%.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Close - End Mutual Fund | +3.73% | 3 / 0 |
| Textile Spinning | +2.54% | 23 / 13 |
| Modarabas | +2.13% | 14 / 6 |
| Leather & Tanneries | +1.41% | 5 / 1 |
| Chemical | -0.91% | 9 / 16 |
| Food & Personal Care Products | -0.93% | 8 / 18 |
| Transport | -0.94% | 3 / 3 |
Gainers
- CTM +16.00%
- KOSM +15.50%
- SPAC1 +10.00%
- TSMF +10.00%
- SINDM +10.00%
Losers
- ASHT -10.00%
- GCWLPRS -10.00%
- GEMBCEM -9.30%
- TICL -9.10%
- PSEL -8.90%
Most active
- PIBTL 73m +0.80%
- KOSM 58m +15.50%
- TISL 51m -1.70%
- CNERGY 28m +0.20%
- DSIL 22m +9.80%
Market Action
Foreign (FIPI) net
−PKR 205m (−$742k)
Local (LIPI) net
+PKR 205m
Source: NCCPL FIPI/LIPI · settled 30 Sept 2026
Foreign investors were net sellers of PKR 205m (USD 0.7m); local investors were net buyers of PKR 205m. the internals read as a broad, quiet bid on the month's last session - the first session since 18 September on which the engines led and the volume ran with the index. Up-volume of 374m ran two to one over the 185m in declining names, 251 names rose and 21 sectors closed higher, with the cements, banks, fertilizer and oil marketing names all firmer on small prints and the refinery complex sweeping higher without size, CNERGY's 28m its lightest print since 17 September. The tape's weight stayed in the fringe - PIBTL's 73m at +0.8%, KOSM's 58m at +15.5%, DSIL's 22m at +9.8% - while two of Tuesday's runners turned, TISL off 1.7% on 51m and SGPL down 7.3% on 17m. Foreign investors were net sellers of PKR 205m into the month-end bid, a fourth straight net sell and the largest of the four - PKR 32m, 99m, 133m and 205m from Friday to Wednesday - taking September's foreign net selling to roughly PKR 4.8bn across the month's 22 sessions, with the PKR 1.79bn of 11 September the heaviest single day.
Outlook
- •September closed 3.96% lower at 169,969 after August's 0.5% gain - a month that broke the 24 July low, crossed the 10% line to the 14 September correction low of 167,971 and recovered to within 0.75% of that line, leaving the index about 9.33% below the record and 0.61% under 171,021 for a fifth straight session.
- •Wednesday was the first session since 18 September on which the engines led and the volume ran with the index: 251 names higher, 21 sectors up, the cements 16 of 19 and the banks 14 of 19 higher, with up-volume two to one - a broad bid on small prints rather than a concentrated one.
- •The fringe is rotating rather than fading: KOSM's 15.5% on 58m joined DSIL's third straight near-limit session at 9.8% on 22m as TISL and SGPL turned lower on 51m and 17m, while the refinery complex swept higher on its lightest CNERGY print since 17 September - the tape's size and the index's direction still in different hands.
What to watch
- •Whether the month-end bid carries into October - Wednesday closed 0.61% under the 24 July low of 171,021 after five sessions below it, with the correction low of 167,971 about 1.19% beneath and the week 0.47% lower with two sessions left
- •Whether the band rotation continues - KOSM ran 15.5% on 58m and DSIL posted a third straight near-limit gain at 9.8% on 22m as TISL fell 1.7% on 51m and SGPL gave back 7.3%
- •Whether foreign selling keeps building - four straight net sells of PKR 32m, 99m, 133m and 205m, each larger than the last, after a month of roughly PKR 4.8bn net foreign selling
- •USD/PKR, SBP rate signals and the global crude tape
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