KSE-100 edges 0.20% lower to 181,259.67 even as advancers lead 236 to 182, with Refinery's unanimous rally unable to offset heavyweight losses
KSE-100
181,259.67
-0.20%
KSE-30
54,098.61
-0.33%
KMI-30 (Shariah)
255,607.53
-0.30%
All-Share
109,929.76
-0.01%
Market Pulse
Thursday marked a third straight decline for the KSE-100, but the smallest of the run: the index eased 0.2% to 181,259.67 after Wednesday's 2.48% rout, holding the 181,000-182,000 band flagged as the week's test level. The KSE-30 (-0.33%) and Shariah KMI-30 (-0.30%) posted similarly modest losses, while the All-Share (-0.01%) was essentially flat. Breadth turned positive for the first time since Monday's record close - 236 advancers against 182 decliners across a 446-name universe. Volume of 945m tilted firmly to the buy side (665m up, 274m down), led by CNERGY (+7.80%, 212m) and PRL (+8.90%, 50m) as the refinery trade extended into a second session. The index-level drag came from a narrower group of heavyweights - Meezan Bank (-2.2%), National Bank (-0.9%), PPL (-1.32%) and OGDC (-0.57%) - even as the broader market advanced.
Sector micro-analysis
Refinery (+5.35%) swept all four traded names higher for a second straight session, led again by CNERGY (+7.80%, 212m) and PRL (+8.90%, 50m), with GHNI (+10.00%) and GAL (+5.99%) driving Automobile Assembler (+2.57%, 8 up/2 down) to the second spot. Insurance (+2.32%, 19 up/5 down) and Apparel (+1.47%) also outperformed. The declines stayed shallow and scattered: Leather & Tanneries (-1.43%) reversed Wednesday's 1.36% gain, while Glass & Ceramics (-1.42%) and Property (-1.18%) rounded out the bottom three. Commercial Banks (+0.24%, 9 up/10 down) was little-changed on average even as Meezan Bank and National Bank led the index heavyweights lower.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Refinery | +5.35% | 4 / 0 |
| Automobile Assembler | +2.57% | 8 / 2 |
| Insurance | +2.32% | 19 / 5 |
| Apparel | +1.47% | 2 / 2 |
| Property | -1.18% | 4 / 2 |
| Glass & Ceramics | -1.42% | 2 / 4 |
| Leather & Tanneries | -1.43% | 2 / 3 |
Most active
- CNERGY 212m Rs 9.40 +7.80%
- LSECL 58m Rs 7.84 +14.62%
- PRL 50m Rs 41.85 +8.90%
- PACE 49m Rs 11.72 -4.64%
- KEL 37m Rs 7.94 +1.02%
Gainers
- LSECL Rs 7.84 +14.62%
- SHNI Rs 8.71 +12.97%
- TPLI Rs 37.57 +10.01%
- SAIF Rs 47.59 +10.01%
- SGPL Rs 104.56 +10.01%
Losers
- SZTM Rs 95.81 -10.00%
- PMRS Rs 638.72 -10.00%
- DFSM Rs 23.96 -9.99%
- GEMPAPL Rs 10.83 -9.70%
- PAKL Rs 60.02 -9.10%
Market Action
Foreign (FIPI) net
+PKR 2.24bn (+$8.05M)
Local (LIPI) net
−PKR 2.24bn
Source: NCCPL FIPI/LIPI · settled 9 Jul 2026
Foreign investors were net buyers of PKR 2,237m (USD 8m); local investors were net sellers of PKR 2,237m. turnover leaned decisively toward the buy side - up-volume of 665m against 274m down - concentrated in the refinery names (CNERGY, PRL) alongside Thursday's broader advancer count of 236 against 182 decliners. The pattern is consistent with bargain-hunting after Wednesday's steep sell-off rather than a continuation of the prior two sessions' de-risking, even though the cap-weighted index itself stayed marginally negative.
Outlook
- •Thursday's 0.2% dip is the smallest of the three-day pullback from Monday's 187,454.69 record, and the first session where breadth (236 advancers to 182 decliners) diverged positively from the index - a sign the Wednesday selling pressure is fading even if the heavyweights haven't turned yet.
- •The refinery trade is now a two-day theme: CNERGY and PRL have led turnover and gains in consecutive sessions, while Commercial Banks and the E&P majors have stayed a drag on the cap-weighted index despite flat-to-positive sector averages.
- •Whether Friday extends the index into positive territory, closing the small gap back toward the 182,000-184,000 range, will show whether the broader market's advance finally pulls the heavyweights along.
What to watch
- •Whether Meezan Bank, National Bank, PPL and OGDC - Thursday's main index-level drags - stabilize or extend their declines
- •Whether the refinery rally (CNERGY, PRL) extends into a third session or fades
- •Whether Thursday's swing to foreign net buying (NCCPL FIPI/LIPI, +PKR 2,237m) holds or reverts to the selling pattern of the prior week
- •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.