Business
Profit-taking ends five-week rally at PSX | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) ended the week on a bearish note as the KSE-100 index fell 5,892 points, or 3.49% week-on-week (WoW), to close at 163,098, snapping a five-week winning streak.
The downturn was largely driven by heavy profit-taking across major sectors despite positive macroeconomic indicators, with the National Accounts Committee (NAC) revising FY25 GDP growth to 3.04%, up from the earlier estimate of 2.68%.
On a day-on-day basis, the PSX began the week on a turbulent note as the KSE-100 index slipped to the intra-day low of 165,997 (down 1.77%), breaking through multiple support levels at 169k, 168k, 167k, and 166k amid heavy profit-taking near the psychological 170k mark.
The market extended its correction for a second consecutive session on Tuesday, with the index losing 1,579 points (-0.94%) to close at 166,174. On Wednesday, the PSX witnessed a turbulent session as bears tightened their grip on market momentum, settling at 165,266, down 907 points, or 0.55%.
The bourse extended its losing streak on Thursday, when the KSE-100 shed another 736 points (-0.45%) to close at 164,531. Continuing its bearish momentum, the market closed last session of the week on a negative note at 163,098 by losing 1,433 points, or 0.87%. Since the intra-day high of 169,988 hit on last Friday (Oct 3), the KSE-100 has lost 6,890 points (-4.05%).
Arif Habib Limited (AHL), in its weekly report, noted that the KSE-100 index closed the week at 163,098, receding 5,892 points (-3.49% WoW). “The overall market faced heavy selling pressure this week, primarily due to profit-taking,” it said.
According to the 114th meeting of NAC, the GDP growth for FY25 came in at 3.04%, compared to the earlier estimate of 2.68%. Overall GDP showed upward revisions in the first three quarters, from 1.37% to 1.80% in Q1, from 1.53% to 1.94% in Q2, and from 2.40% to 2.79% in Q3. The economy recorded a growth of 5.66% during Q4, with sectoral growth rates of 0.18% for agriculture, 19.95% for industry, and 3.72% for services, AHL said.
It mentioned that the central government debt shed 1% month-on-month (MoM) to Rs77.5 trillion as of Aug’25 (+10.1% year-on-year compared with Rs70.4 trillion in Aug’24). Oil production increased 0.3% WoW, arriving at 64,493 barrels per day. Gas production edged up 3.1% WoW, settling at 2,900 million cubic feet per day on the back of increase in production at Makori East, Nashpa, and Uch.
Remittances from overseas Pakistanis increased 11% YoY to $3.18 billion during Sept’25 compared to $2.9 billion during Sept’24. On a MoM basis, remittances increased 1.45% while during 1QFY26, they spiked 8% YoY to $9.6 billion. Pakistan’s forex reserves rose to $19.81 billion (+$13.7 million), including State Bank’s reserves of $14.42 billion (+$20 million), AHL concluded.
Syed Danyal Hussain of JS Global wrote that the KSE-100 index recorded a correction of 3.5% WoW to 163,098 as profit-taking was observed after an extended bull-run of five weeks. Among major sectors, oil & gas exploration and production (E&P), cement, and banking posted negative returns of 5.5%, 4.6%, and 3.4%, respectively. Average daily volumes declined 9% WoW to 1,357 million shares, he said.
During the week, the International Monetary Fund (IMF) concluded its visit to Pakistan for the second review of the ongoing $7 billion Extended Fund Facility, alongside the first review under the Resilience & Sustainability Facility (RSF).
Issues related to flood-related fiscal adjustments, other fiscal slippages, and certain other matters will be under discussion during policy-level talks in the coming days, Hussain said.
Meanwhile, Pakistan reported an 11% YoY growth in remittances, which stood at $3.2 billion in September 2025. On the privatisation front, the process for PIA entered its final stages, with bidding and key negotiations expected to conclude by year-end. Additionally, the government was moving forward with the privatisation of DISCOs to align with the IMF reform commitments, he added.
New Delhi: The intensity of foreign portfolio investor (FPI) selling in the Indian markets slowed down significantly in October, analysts said on Sunday.
The shift in the FPI trading strategy is significant and it stems from two factors.
One, the valuation differentials between India and other markets, which were high earlier, had come down significantly in recent weeks following the rally in other markets and consolidation in the Indian market.
“Two, the growth and earnings prospects for India have been revised upward by market experts. The GST cuts and the low interest regime are expected to boost India Inc’s earnings in FY27, which the market will soon start discounting,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd.
Foreign investors turned buyers in the cash market on the last four trading sessions of the week ended on October 10.
The cash market buy figure during the last four trading sessions stands at Rs 3,289 crore.
The global market sentiment has again turned negative with the reignite of the US-China trade war, following US President Donald Trump’s threat to impose 100 per cent tariff on imports from China and restricting many critical US exports to China.
The FPI flows, going forward, will depend on how this renewed trade war pans out in the coming days, said analysts.
Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said Nifty50 edged higher by 104 points to close at 25,285 last Friday, amid improving global sentiment, supported by easing geopolitical tensions as Israel and Hamas agreed on the first stage of a ceasefire plan, along with signs of progress in a potential India–US trade deal.
“Renewed FPI buying also boosted sentiment. Additionally, India and the UK announced multiple collaborations across sectors including education, critical minerals, climate change, and defence,” he mentioned.
With the valuation differential coming down and Indian earnings likely to improve in FY27, foreign portfolio investors (FPIs) are likely to slow down selling going forward.
Sustained FPI selling continued in September with the sell figure through exchanges touching Rs 27,163 crore. However, in keeping with the long-term trend of buying through the primary market, they bought equity for Rs 3,278 crore in September.
On the macro front, investors will closely track India’s retail inflation print for September, to be released on Monday.
Business
Dalal Street rally! M-cap of eight of top-10 valued firms add Rs 1.94 lakh crore; TCS leads gain – The Times of India
Stock market: Dalal Street witnessed strong momentum last week as the combined market capitalisation of eight of India’s top 10 most-valued companies rose by Rs 1.94 lakh crore, reflecting renewed investor optimism.Tata Consultancy Services (TCS) emerged as the biggest gainer, while Hindustan Unilever and Life Insurance Corporation of India (LIC) saw declines in their valuations, PTI reported.The benchmark BSE Sensex rose 1,293.65 points, or 1.59%, last week, mirroring the overall positive momentum in equities.Among the top gainers, TCS’s market value surged by Rs 45,678.35 crore to Rs 10,95,701.62 crore, making it the biggest contributor to the weekly rally. Infosys followed with an increase of Rs 28,125.29 crore to Rs 6,29,080.22 crore, while HDFC Bank’s valuation climbed Rs 25,135.62 crore to Rs 15,07,025.19 crore.Bharti Airtel added Rs 25,089.27 crore to reach Rs 11,05,980.35 crore, and Reliance Industries gained Rs 25,035.08 crore, taking its market capitalisation to Rs 18,70,120.06 crore, maintaining its position as India’s most valuable company.Bajaj Finance rose by Rs 21,187.56 crore to Rs 6,36,995.74 crore, State Bank of India advanced by Rs 12,645.94 crore to Rs 8,12,986.64 crore, and ICICI Bank saw an increase of Rs 11,251.62 crore to Rs 9,86,367.47 crore.In contrast, mcap of LIC fell by Rs 4,648.88 crore to Rs 5,67,858.29 crore, and Hindustan Unilever’s declined by Rs 3,571.37 crore to Rs 5,94,235.13 crore.Reliance Industries retained the top spot among India’s most-valued firms, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Bajaj Finance, Infosys, Hindustan Unilever, and LIC.
ISLAMABAD:
Federal Minister for Commerce Jam Kamal Khan has underscored the government’s commitment to improving Pakistan’s agricultural exports through value addition, innovation and quality enhancement, particularly in the citrus sector.
The minister stated that citrus, especially Kinnow, holds a significant place in Pakistan’s export portfolio and regaining its competitive position in global markets is a key priority for the Ministry of Commerce, said a press release issued on Saturday.
“Our focus is on strengthening the entire value chain – from farms to foreign markets — by promoting modern agricultural practices, ensuring compliance with international standards and improving logistics infrastructure,” he said.
He was speaking in reference to the recent participation of the Pakistan Horticulture Development and Export Company (PHDEC) in the Agri Expo Sargodha (October 7-8), where PHDEC organised a technical workshop titled “Enhancing Citrus Quality and Export Competitiveness: Pest and Disease Control Measures, Harvest and Post-Harvest Management and Effective Logistics Solutions.”
The workshop attracted a large number of citrus growers, exporters and researchers. Experts from the Citrus Research Institute (CRI), Sargodha, shared detailed guidance on pest and disease control, harvest techniques and post-harvest management aimed at improving fruit quality and reducing export losses.
PHDEC also distributed Urdu-language citrus booklets to help farmers adopt Good Agricultural Practices (GAP) and modern orchard management techniques.
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