One of the key boosters of investors’ sentiments was an inflow of
US$2.0 billion from Saudi Arabia, with an aggregate committed support of US$8.0
billion, including a rollover of US$5.0 billion.
Sentiments improved following the Prime Minister’s announcement of reduction
in prices of motor spirit and high speed diesel.
Confidence was further supported by Pakistan’s role in in ceasefire in
a US-Iran war on optimism around a second round of talks to take place in
Islamabad.
Fertilizer and Autos remained in focus. Urea offtake increased by
86%YoY to 569,000 tons in March 2026, while DAP, CAN, and NP sales also surged.
Auto sales rose to 19,100 units in March 2026, up 46%YoY, primarily
driven by strong tractor sales.
Pakistan posted a current account surplus of US$1.07 billion in March
2026, marking the third consecutive surplus.
Another important feature was reduction in T-Bills yield.
UBL’s higher than expected earnings for the first quarter supported the
momentum.
Leather & Tanneries, Textile Weaving, and Vanaspati & Allied
Industries emerged as top performing sectors, while, Woollen and Tobacco were
the laggards.
Major buying was recorded by Individuals and Companies with a net buy
of US$10.7 million and US$10.5 million. Banks and Insurance companies emerged
as major seller with a net sell of US$22.1 million and US$9.6 million respectively.
Top performing scrips of the week were: GAL, GHNI, LOTCHEM, BOP, and
SRVI, while laggards included: PTC, FATIMA, ATRL, MEBL, and BNWM.
According to AKD Securities, going
forward, upcoming negotiations in Islamabad on US-Iran war would remain a key
focus for investors. Any positive development would likely keep the market robust.
Despite the recent recovery, market continues to trade at attractive
valuations.
According to the brokerage house the benchmark index is expected to
reach 263,800.
Top picks of the brokerage house include: OGDC, PPL, UBL, MEBL, HBL,
FFC, ENGROH, PSO, LUCK, FCCL, INDU, ILP and SYS.
