PSX benchmark index up 2.3%WoW

The Pakistan Stock Exchange (PSX) recorded gains during the outgoing week amid ongoing diplomatic efforts to end the Middle East conflict. The benchmark Index closed at 177,874 points on Friday, November 13, 2026, up 2.3%WoW. Average daily trading volume was reported at 1.3 billion shares, up 24%WoW. Qatar-mediated US-Iran proposal to reopen the Strait of Hormuz, alongside Russia-Ukraine peace talks in Abu Dhabi resulted in a decline in international oil prices. Brent crude eased by 3%WoW to US$96.1/ bbl on of Friday. On the macroeconomic front, workers’ remittances rose 14%YoY to US$3.9 billion in October 2026, translating into 4MFY27 remittances of US$14.8 billion. Moreover, fiscal surplus was reported at PKR1.3 trillion in 1QFY27 while primary surplus stood at PKR3.0 trillion. Furthermore, central government debt declined by 1% FYTD to PKR82.7 trillion as of September 2026. Government raised PKR551 billion through the latest T-Bill auction against the target of PKR400 billion, while cut-off yields declined. Foreign exchange reserves held by State Bank of Pakistan (SBP) were reported at US$21.6 billion as of November 06, 2026. Passenger car sales increased 60%YoY to 21,635 units in October 2026, led by growth in lower-displacement cars. Other major news flow during the week included: 1) ADB approved US$500 million contingent disaster financing facilities to support Pakistan’s disaster response, 2) Saudi-Pakistan Joint Business Council launched a private equity fund, with three-fourths of the initial size to be invested in Pakistan, 3) Prime Minister approved the final draft of the Auto Policy, 4) MSCI added ATRL to its FM Index, while FLYNG and PAKOXY were removed from the FM Small Cap Index, and 5) NTC imposed definitive anti-dumping duties of up to 37% on PVC resin imports for five years. Active sectors were: Leasing, Modaraba, and Miscellaneous, while laggards included: Refinery, Technology & Communication, and Paper. Major net buyers were Mutual Funds (US$25.8 million) and Other Organizations (US$5.1 million). Major net sellers were: Individuals (US$21.2million) and Banks (US$21.2million). Top performing scrips were: YOUW, FFL, MARI, PSEL, and PGLC. On the other side, top laggards were: ATLH, KTML, AICL, SSOM, and CNERGY. AKD Securities, expects the market to improve on the back of strengthening economic indicators. Moreover, any positive development on Middle East conflict could moderate international oil prices and serve as a key trigger for market as it paves the way for monetary easing. Market continues to trade at attractive valuations, with forward P/E of 6.4x. Top picks of the brokerage house include: OGDC, PPL, UBL, MEBL, HBL, FFC, ENGROH, PSO, LUCK, FCCL, INDU, ILP and SYS.