Sentiments were further supported by positive June 2026 financial results announced by major companies. Meanwhile, SBP’s status quo in its first FY27 meeting on Monday had little impact on the market, as the decision was largely in line with expectations. Additionally, market participation strengthened, with average daily trading rising by 48.5%WoW to 1.3 billion shares.
On the macroeconomic front, foreign exchange reserves held
by SBP decreased to US$17.0 billion as of July 24, 2026. Saudi Arabia also rolled
over its US$5 billion deposits for another 3 years, reducing external debt
repayments to US$21.5 billion for FY27.
Other major news flow during the week included: 1) ECC
approves package of export finance incentives, 2) Dar seeks US partnership to
double bilateral trade to US$20 billion, 3) PM Shehbaz Sharif approves
amendments to Pakistan Oil Refining Policy, 4) Saudi group eyes US$10 billion
investment in Pakistan, and 5) Pakistan, Kuwait agree to expand economic ties.
Active sectors were: Jute, Modarabas, and Refinery, while
the lagged included: Close-end Mutual Funds, Miscellaneous, and Textile Weaving.
Major buying was recorded by Mutual Funds of US$14.7 million.
While sellers were Individuals with US$11.9 million.
Top performing scrips were: AICL, MLCF, PIBTL, KOHC, and
IBFL, while laggards included: HGFA, PIOC, PGLC, YOUW, and TPLRF1.
According to AKD Securities, going forward, any positive
progress on US-Iran conflict, along with moderating international oil prices
towards pre-conflict levels would remain the key focus.
Favorable financial results for the quarter ended June 30,
2026 would support market sentiment in the near term. Market continues to trade
at attractive valuations.
Top picks of the brokerage house include: OGDC, PPL, UBL,
MEBL, HBL, FFC, ENGROH, PSO, LUCK, FCCL, INDU, ILP and SYS.
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