Shares of 324 corporations had been traded. On the finish of the day, 90 shares closed larger, 211 declined and 23 remained unchanged. PHOTO: FILE
KARACHI:
Pakistan’s fairness market opened the brand new yr on a powerful footing because the benchmark KSE-100 index prolonged its bullish momentum within the second week, climbing 5,375 factors, or 3% week-on-week (WoW), to shut at 184,410.
The rally was triggered by renewed shopping for in heavyweight shares amid improved market participation, supportive macroeconomic indicators, and constructive company-specific developments, whereas easing yields within the newest T-bill public sale and sturdy remittances additional strengthened investor sentiment. On a day-on-day foundation, the bullish momentum on the Pakistan Inventory Change (PSX) continued unabated on Monday because the KSE-100 index surged previous 182k, closing at 182,408, up 3,373 factors (+1.88%).
On Tuesday too, the market’s surge continued, when the index gained 2,654 factors (+1.45%) to shut at 185,602. The highly effective and sustained bullish pattern remained intact on Wednesday as nicely, with the bourse sustaining its full energy and shutting at a contemporary all-time excessive of 186,518. Within the preliminary 5 periods of CY26, the index added an enormous 12,464 factors (+7.2%).
Nonetheless, following the sharp rally, the PSX witnessed its first profit-taking session on Thursday, the place the index closed at 185,543, down 976 factors (-0.52%). On Friday, the PSX took a breather and the KSE-100 remained risky, swinging in each instructions earlier than closing at 184,410, down 1,133 factors (-0.61%). Regardless of the decline, the CY26-to-date positive aspects stood sturdy at 5.95%, equal to an increase of 10,356 factors.
Arif Habib Restricted’s (AHL) weekly report famous that the KSE-100 index climbed from 179,035 factors final week to 184,410 within the outgoing week, gaining 5,375 factors (+3%), supported by a rally in heavyweight shares pushed by new yr shopping for, and constructive company-specific information and updates.
Amongst financial developments, the federal government by way of a T-bill public sale raised Rs979.3 billion in opposition to the goal of Rs850 billion. Yields had been down throughout all tenors by 28.6 to 33.8 foundation factors. Participation remained sturdy at Rs2,554.6 billion.
Employee remittances reached $3.6 billion in Dec’25, marking a 17% year-on-year (YoY) improve. Cumulatively, 1HFY26 remittances clocked in at $19.7 billion, up 11% YoY.
AHL talked about that tariff rebasing, following shift from monetary yr to calendar yr, was more likely to pull the ability buy worth down by Rs0.51 per kilowatt-hour (kWh) in CY26 versus FY26. Cotton arrivals in factories remained secure as of end-Dec’25. In Punjab, cotton arrivals declined 4% in CY25, whereas Sindh arrivals improved by 4% YoY. Nonetheless, whole manufacturing are estimated at 6.8 million bales in FY26, representing a major 33% shortfall in opposition to projections.
In the meantime, the central authorities debt stood at Rs77.5 trillion as of Nov’25 in contrast with Rs70.4 trillion in Nov’24, up 10.2% YoY and 0.7% month-on-month, AHL added.
JS International’s Syed Danyal Hussain, in his report, mentioned that the benchmark KSE-100 index prolonged its bullish run within the second week of the yr, closing at 184,410, up 3% WoW. The rally was largely led by banks, which contributed 57% to index positive aspects, whereas cement shares (8%) and auto shares (5%) offered restricted assist. Market participation improved notably, with common each day traded volumes rising 25% WoW.
On the macro entrance, he mentioned, Pakistan recorded month-to-month remittances of $3.6 billion in Dec’25, reflecting a 17% YoY improve. In the meantime, whole public debt declined by Rs345 billion to Rs77.5 trillion in 5MFY26, largely supported by the switch of State Financial institution’s income to the federal government.
In coverage developments, the federal government was exploring choices to hunt relaxations from the IMF forward of the FY27 price range, with key proposals together with a phased discount in tremendous tax over the subsequent 4 years and decrease energy tariffs to reinforce competitiveness.
Individually, the gas-sector round debt climbed to Rs3.2 trillion, pushed primarily by a pointy rise in late cost surcharges (Rs1.45 trillion). Within the T-bill public sale, the federal government raised Rs979 billion in opposition to the goal of Rs850 billion, with yields falling by 29-33 foundation factors throughout completely different tenors. SBP’s reserves rose $141 million to $16 billion.
