KSE-100 slides 1% as tech lags, Shariah stocks surge 10%
The KSE-100 opened lower at 164,178 points, down 1,752 points (‑1.06%) from the prior close. Shariah‑compliant stocks led gains with five names jumping about 10%, while the Technology & Communication sector saw 20 of 21 stocks fall. Overall market breadth was negative, with more decliners than advancers across most sectors.
KSE-100
164,178.38
Session move
-1.06%
What matters
- KSE-100 fell 1.06% to 164,178.38, extending the recent downtrend.
- Shariah‑compliant stocks UCAPM, NCL, STML, KOHE and DNCC each rose roughly 10% on strong volume.
- Technology & Communication was the weakest sector, with 20 down versus 1 up and a turnover of 34.5 million PKR.
- Top losers included TPLL, CFL, FIL and MACFL, each shedding about 10% amid weak demand.
- Book closures for UBL (160% entitlement) and IMAGE (10% entitlement) are scheduled for Oct 23, with several AGMs later in the week.
The KSE-100 index opened at 164,178.38, down 1,752.60 points or 1.06% from the previous close, continuing a short‑term slide after a series of higher closes earlier in the week.
Gainers: Shariah‑compliant stocks led the rally. UCAPM rose 10.03% on 1.47 million shares, NCL up 10.01% on 1.73 million, STML up 10.01% on 5,791 shares, KOHE up 10.01% on 1.33 million, and DNCC up 10.01% on 4.18 million.
Losers: The biggest drags were TPLL (-10.00% on 676,832 shares), CFL (-10.00% on 114,232 shares), FIL (-10.00% on 8,736 shares), MACFL (-9.99% on 15.99 million shares) and JVDCPS (-9.88% on 15 shares).
Sector breadth was broadly negative. The Technology & Communication sector posted 1 up vs 20 down with a turnover of 34.5 million PKR, while other sectors such as Refinery, Cement and Chemical also showed more decliners than advancers.
Corporate actions to watch: UBL and IMAGE have book closures on Oct 23 (UBL 160% entitlement, IMAGE 10% entitlement). PINL, BAHL, NESTLE, EFERT and several companies have AGMs or rights issues scheduled later in the week, which could add volatility.
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SmartSarmaya is an educational research tool, not a licensed financial adviser and not a source of religious rulings. Shariah status reflects membership of the KMI All Shares Islamic Index published by the Pakistan Stock Exchange. Always do your own research.