Overview

• The KSE-100 ranged from a high of 169,326.35 to a low of 167,245.57 versus a previous close of 168,990.07, then traded near 169,220 late in the session.
• Analysts cited profit-taking after a record rally, with Ahfaz Mustafa pointing to missed tax targets, a larger trade deficit, rising inflation, limited policy action, and high leverage as key drivers.
• FBR data showed Rs2.88 trillion collected in Q1 FY26 versus a Rs3.083 trillion goal, with September receipts at Rs1.23 trillion, falling Rs138 billion short and also undershooting an IMF benchmark.
• PBS reported the September trade deficit at $3.34 billion, up nearly 46% year on year as imports rose 14% to $5.85 billion and exports fell 11.7% to $2.5 billion; the July–September gap widened to $9.37 billion.
• Economists warned that weaker revenue and a widening trade gap could pressure the rupee and foreign reserves and complicate external debt repayments.