Back above the July low: KSE-100 adds 0.16% to 171,153.16, its first close above 171,021.20 since 9 September, as the refineries sweep 3.01% higher and TISL runs 22.85% on 120m
KSE-100
171,153.16
+0.16%
KSE-30
50,901.98
+0.04%
KMI-30 (Shariah)
243,765.66
+0.26%
All-Share
103,477.03
+0.17%
Market Pulse
Monday's 636m tape put 505m through advancing names against 128m in declining ones, a split of nearly four to one, and its three heaviest prints were all band runners. TISL was the most active name at 120m, closing 22.85% higher at Rs 5 from Rs 4.07 - the Rs 1 circuit allowing a move well beyond 10% on a low-priced stock - with FNEL up 14.55% on 74m and MDTL 11.63% on 70m after Friday's 13.2%. The refinery complex was the index-weight side of the volume: CNERGY rose 2.24% on 60m, its heaviest print since 14 September, and PRL 4.76% on 29m, with ATRL 3.24% and NRL 1.79% on small size completing the sweep. PIBTL added 3.03% on 21m and ASTL 3.36% on 10m, a fifth straight rise. The engines were quiet and mixed: MLCF flat on 9m, PACE up 0.19% on 7m, KEL down 1.17% on 6m, PAEL 0.81% on 6m, NCPL 0.05% on 5m, DGKC up 0.10% and ASL down 1.00% on 4m each. The heavyweights barely moved - PPL and OGDC off 0.2%, HBL up 0.29%, TRG and NETSOL 0.6% - and GGL gave back 1.96%. The losers list was second-line: FECM off 8.41%, OML 7.68% after Thursday's limit-up, ARMG 6.91%, JKSM 6.69% and PIM 6.10%.
Sector micro-analysis
Twenty-two of 33 sectors closed higher and two swept higher outright: Transport at 3.4% with five of six traded names up and none lower on PIBTL's 3.03%, and the Refinery sector at 3.01% with all four - PRL 4.76%, ATRL 3.24%, CNERGY 2.24%, NRL 1.79% - its first clean sweep higher since 11 September after lagging the index in the three previous rally sessions. Textile Weaving added 2.82% and Textile Spinning 2.81% with 20 of 29 higher, the securities complex 1.3% with 14 of 28, Property 0.84%, Sugar and Allied 0.78% and Chemical 0.76% despite 13 of 22 names lower. The engines were all but flat: Commercial Banks rose 0.4% with 10 of 17 traded names up on HBL's 0.29%, Fertilizer 0.22%, the E&Ps 0.1% with PPL and OGDC each off 0.2%, Technology and Communication 0.08% with 10 of 20 lower, Cement fell 0.12% with MLCF flat and DGKC up 0.10%, Engineering 0.1% despite ASTL's 3.36%, and Power Generation and Distribution 0.27% with 10 of 16 lower on KEL's 1.17% and PKGP's 2.09%. Apparel was the deepest decliner at -1.75%, with Cable and Electrical Goods off 0.83% with six of seven lower, Automobile Parts and Accessories 0.65%, and Oil and Gas Marketing 0.04% the day after its clean sweep higher.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Transport | +3.40% | 5 / 0 |
| Refinery | +3.01% | 4 / 0 |
| Textile Weaving | +2.82% | 3 / 2 |
| Textile Spinning | +2.81% | 20 / 8 |
| Automobile Parts & Accessories | -0.65% | 1 / 5 |
| Cable & Electrical Goods | -0.83% | 1 / 6 |
| Apparel | -1.75% | 1 / 3 |
Most active
- TISL 120m Rs 5.00 +22.85%
- FNEL 74m Rs 1.26 +14.55%
- MDTL 70m Rs 9.60 +11.63%
- CNERGY 60m Rs 13.21 +2.24%
- PRL 29m Rs 86.92 +4.76%
Gainers
- TISL Rs 5.00 +22.85%
- FNEL Rs 1.26 +14.55%
- MDTL Rs 9.60 +11.63%
- ASHT Rs 36.60 +10.01%
- DFSM Rs 13.08 +10.01%
Losers
- FECM Rs 19.60 -8.41%
- OML Rs 78.94 -7.68%
- ARMG Rs 51.98 -6.91%
- JKSM Rs 312.33 -6.69%
- PIM Rs 51.25 -6.10%
Market Action
Foreign (FIPI) net
−PKR 333.33m (−$1.20M)
Local (LIPI) net
+PKR 333.33m
Source: NCCPL FIPI/LIPI · settled 21 Sept 2026
Foreign investors were net sellers of PKR 333.33m (USD 1.2m); local investors were net buyers of PKR 333.33m. the internals read as a market that held its ground while the speculative tape ran. Up-volume of 505m outran the 128m in declining names nearly four to one, but 264m of it - TISL's 120m, FNEL's 74m and MDTL's 70m - was three band names at or beyond the 10% mark, and the index engines barely moved: the KSE-30 closed flat, the banks added 0.4%, the cements and power names slipped. The one index-weight bid was the refinery complex, back in the lead for the first time since 11 September, CNERGY's 60m the heaviest refinery print since 14 September and PRL up 4.76%. Breadth at 208 to 190 confirmed the quiet centre. Foreign investors were net sellers of PKR 333.33m, a fourth straight net sell after PKR 306.13m, 228m and 360m - roughly PKR 1.23bn over the four sessions - and the third of those sessions to close higher regardless.
Outlook
- •The index reclaimed the 24 July low on a third straight gain: 171,153.16 is the first close above 171,021.20 since 9 September, about 8.7% below the record and 1.89% above the 14 September correction low, with the 173,518.81 level abandoned on 8 September roughly 1.36% overhead.
- •The refinery complex rejoined the rally after five sessions out of the lead - a 3.01% clean sweep on CNERGY's 60m and PRL's 4.76% - but the index engines stayed flat, the KSE-30 closing at +0.04% while three band names put 264m through the tape at double-digit gains.
- •Foreign selling has now run four straight sessions - roughly PKR 1.23bn - into a market that rose on three of them, a divergence that has so far been absorbed by local buyers rather than pressing on the index.
What to watch
- •Whether the run extends to four sessions - a fourth straight gain would be the first since the run that ended at the 6 July record - and whether 171,021.20 holds as a floor from above
- •Whether the band runners reverse - TISL, FNEL and MDTL put 264m through the tape at 22.9%, 14.5% and 11.6%, MDTL's second straight double-digit gain
- •Whether foreign selling persists after four straight net sells of roughly PKR 1.23bn combined, and whether the engines - banks, cements, power - follow the refineries higher
- •USD/PKR, SBP rate signals and the global crude tape
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