Commentary
Reading the market
Notes on Pakistani listed companies, their filings, and what moves the index, written for someone who would rather understand the mechanics than be told what to buy.
- PSX Analyst
What the funds are holding, and why you can check it
Pakistani asset managers publish their top holdings every month in a PDF almost nobody reads. Collected across houses and across months, it is the closest thing this market has to a positioning indicator.
Read → - PSX Analyst
Borrowing to buy, and selling what you do not own
The PSX has a regulated margin facility and a regulated way to go short. Both are narrower than people assume, both are priced off KIBOR, and the rules that constrain them are the reason the leverage on this exchange rarely blows up in public.
Read → - PSX Analyst
Why a stock falls out of the Shariah list
A company can be dropped from the KMI All Share without doing anything differently. Six screens decide it, one of them was tightened by the SECP in February 2026, and the rules are not identical across every index you will see quoted.
Read → - PSX Analyst
What a 150% dividend actually pays you
A Pakistani company announcing a 150% dividend is not paying you 150% of anything you own. The percentage is of face value, and the gap between those two readings is where most of the confusion about PSX payouts lives.
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What $100 oil does to a Pakistani portfolio
Crude is back above $100 and the Strait of Hormuz is shut. Here is how that reaches a KSE-100 share price, step by step, and which sectors sit on which side of it.
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The 44% year that felt like a bad one
The KSE-100 beat every other asset class in FY26 for the third year running. It also swung 29% between its high and its low, and foreigners sold about $900 million into the rally.
Read → - PSX Analyst
Why so many stocks close at exactly 10%
Open any day's top gainers on the PSX and you will find a cluster of names at precisely 9.99% or 10.00%. That is not coincidence. It is the circuit breaker, and it changes how you should read the list.
Read → - PSX Analyst
T+1, and what actually changed in February
Pakistan moved to next-day settlement on 9 February 2026. Most explanations stop at "it is faster". Here is what it changes for the money in your account.
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