Friday's rebound fails: KSE-100 slips 1.27% to 179,927.04, its first close below 180,000 this month, while the refinery trade powers on
KSE-100
179,927.04
-1.27%
KSE-30
53,705.71
-1.33%
KMI-30 (Shariah)
253,531.92
-1.32%
All-Share
109,270.69
-1.19%
Market Pulse
Monday took back Friday's bounce and more. The KSE-100 fell 1.27% to 179,927.04, undercutting the 9 July low of 181,259.67 to set the month's lowest close and settling below the 180,000 mark for the first time since the rally began - the index is now 4% below the 6 July record of 187,454.69 and has fallen in four of the last five sessions. The KSE-30 (-1.33%), Shariah KMI-30 (-1.32%) and All-Share (-1.19%) fell in a tight band with the benchmark, and breadth turned firmly negative again at 127 advancers to 335 decliners across a 496-name universe - softer selling than Wednesday's 85-to-396 rout, but broad. The volume pattern stayed peculiar: total turnover of 845m, below Friday's 910m, actually tilted to the buy side (466m up against 375m down) because the buying stayed so concentrated - CNERGY (+3.72%) alone traded 159m shares to top the actives, as it has in every session since 9 July, with FNEL (+0.80%, 64m), BLUEX (+0.94%, 44m) and LOTCHEM (+0.54%, 43m) behind it; KEL (-2.10%, 30m) was the only decliner among the five most active. Last Wednesday's speculative leader WTL, which traded 220m shares at +4.7% that day, faded to -3% on 26m.
Sector micro-analysis
Seven of 33 tracked sectors closed higher and the leadership was familiar: Refinery (+2.32%) delivered another unanimous advance - all four traded names up, led by CNERGY (+3.72%, 159m), NRL (+2.05%) and PRL (+1.57%, 27m) - while Synthetic & Rayon (+3.96%, 4 up / 1 down) topped the sector table outright. Modarabas (+0.85%) and Miscellaneous (+0.94%) edged up with mixed internals. The declines were led by the periphery - Leather & Tanneries (-3.26%, 0 up / 6 down), Paper, Board & Packaging (-2.84%, 1 up / 10 down) and Property (-2.82%, 0 up / 4 down, TPLP -6.89% on 12m, PACE -2.8%) - but the index weight came off the majors: Commercial Banks (-1.48%, 4 up / 15 down) with NBP (-2.52%) and BOP (-2.24%, 9m); Fertilizer (-1.46%, 0 up / 5 down); Technology & Communication (-1.31%) with WTL (-3.03%, 26m); and the E&Ps 0 up / 4 down with PPL (-1.75%) and OGDC (-0.76%). Cement's -0.96% average hid weak internals (2 up / 16 down) with MLCF (-3.17%, 13m), DGKC (-3.20%) and FCCL (-2.97%) all lower.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Synthetic & Rayon | +3.96% | 4 / 1 |
| Refinery | +2.32% | 4 / 0 |
| Miscellaneous | +0.94% | 9 / 7 |
| Modarabas | +0.85% | 9 / 9 |
| Property | -2.82% | 0 / 4 |
| Paper, Board & Packaging | -2.84% | 1 / 10 |
| Leather & Tanneries | -3.26% | 0 / 6 |
Most active
- CNERGY 159m Rs 10.05 +3.72%
- FNEL 64m Rs 1.26 +0.80%
- BLUEX 44m Rs 8.60 +0.94%
- LOTCHEM 43m Rs 31.63 +0.54%
- KEL 30m Rs 7.93 -2.10%
Gainers
- SPAC2 Rs 15.00 +50.00%
- SHNI Rs 9.75 +10.80%
- DBCI Rs 11.61 +10.05%
- CJPL Rs 18.91 +10.01%
- SERT Rs 63.48 +10.00%
Losers
- TCORPR2 Rs 4.19 -12.53%
- FSWL Rs 206.20 -10.00%
- ICIBL Rs 24.24 -10.00%
- ANTM Rs 53.60 -9.93%
- FIL Rs 360.26 -9.51%
Market Action
Foreign (FIPI) net
+PKR 40.42m (+$145.40k)
Local (LIPI) net
−PKR 40.42m
Source: NCCPL FIPI/LIPI · settled 13 Jul 2026
Foreign investors were net buyers of PKR 40.42m (USD 0.1m); local investors were net sellers of PKR 40.42m. the selling was broad - 335 decliners against 127 advancers - but not intense, with total volume of 845m below Friday's 910m and the majors falling on modest turnover (Commercial Banks -1.48%, Cement -0.96%, the E&Ps -1.05% as a group). The buy side stayed narrow and thematic: up-volume of 466m exceeded down-volume's 375m almost entirely on the strength of the refinery trade and a handful of actives, a concentration pattern that has now persisted through both up and down tape all month.
Outlook
- •Monday's 1.27% fall undid Friday's 0.54% rebound and set the month's lowest close - 179,927.04 sits 4% below the 6 July record, with the index down in four of the last five sessions.
- •The selling was broad (26 of 33 sectors lower) but less violent than Wednesday's washout - breadth of 127-to-335 against 85-to-396 - and the day's heaviest volume once again went into advancing counters rather than the exits.
- •The index settled below the 180,000 mark for the first time this month, completing the retracement of the July rally; whether Tuesday reclaims that level or the consolidation deepens is now the week's central technical question.
What to watch
- •Whether the refinery trade finally cools - CNERGY (+3.72%) has led the actives in every session since 9 July, and Monday's Refinery advance was unanimous (all four names up) just as it was in Wednesday's selloff
- •Whether the index reclaims 180,000 after Monday's 179,927.04 close, or the consolidation extends further below the level that launched the July breakout
- •Whether foreign investors' buying streak survives a deeper drawdown - NCCPL shows them net buyers in every posted session since 8 July, including PKR 40.42m against Monday's fall, with locals driving the selling
- •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.