Karachi, February 7, 2026: The Pakistan Stock Exchange (PSX) witnessed a mixed trading week ending February 6, 2026, as the benchmark KSE-100 index edged lower by a modest 45 points, closing at 184,130 (-0.02% WoW). The index remained positive for most of the week before giving up gains toward the close.
Analysts at Arif Habib Limited attributed the mixed trading to economic and market factors, including a slight uptick in inflation, with the Consumer Price Index (CPI) rising to 5.8% YoY in January 2026 from 5.6% in December 2025.
Trade data from the Pakistan Bureau of Statistics (PBS) showed a trade deficit of USD 2.7 billion in January 2026. Exports rose 3.7% YoY to USD 3.1 billion, marking the highest-ever monthly goods exports, while imports declined 1.4% YoY to USD 5.8 billion. The cumulative trade deficit for 7MFY26 widened to USD 22.0 billion, up 28.2% YoY.
Petroleum sales increased 12% MoM to 1.52 million tons, led by lower MS and HSD prices, a recovery in automobile and tractor sales, and reduced smuggling. Refinery throughput rose 10.6% YoY, while fertilizer offtake declined sharply due to seasonal slowdown and higher international prices.
The State Bank of Pakistan’s foreign reserves grew slightly by USD 56.1 million to USD 15.2 billion, while the Pakistani rupee remained largely stable at PKR 279.71/USD.
Sector contributions were led by Banks, Investment Banks, Auto Assemblers, Technology, and Power, while negative contributions came from E&P, Fertilizer, Cement, FMCG, and Miscellaneous sectors. Top gainers included ENGROH, UBL, MEBL, KEL, and SAZEW, while PPL, FFC, LUCK, EFERT, and NBP weighed on the index.
Average volumes increased 17.6% WoW to 1,014 million shares, while average value traded fell 11% to USD 175.8 million. Analysts expect market direction in the coming week to be influenced by the MSCI review and ongoing corporate results.