Pakistani (KSE) Market Analysis & Valuation

Market Valuation and Performance

Has the Pakistani Market valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 15 Jul 2026	PK₨18.2t	PK₨21.7t	PK₨2.0t	10.1x	9.2x	0.8x
Fri, 12 Jun 2026	PK₨17.7t	PK₨21.7t	PK₨2.0t	10.1x	8.9x	0.8x
Sun, 10 May 2026	PK₨17.6t	PK₨21.5t	PK₨2.0t	9.8x	9x	0.8x
Tue, 07 Apr 2026	PK₨15.9t	PK₨21.0t	PK₨1.9t	8.5x	8.4x	0.8x
Thu, 05 Mar 2026	PK₨16.3t	PK₨21.0t	PK₨1.9t	9.1x	8.6x	0.8x
Sat, 31 Jan 2026	PK₨19.3t	PK₨21.1t	PK₨1.9t	11.3x	10.3x	0.9x
Mon, 29 Dec 2025	PK₨18.1t	PK₨21.6t	PK₨1.9t	11.3x	9.7x	0.8x
Wed, 26 Nov 2025	PK₨17.1t	PK₨21.7t	PK₨1.9t	10.9x	9.2x	0.8x
Fri, 24 Oct 2025	PK₨17.7t	PK₨22.1t	PK₨1.8t	12.3x	9.8x	0.8x
Sun, 21 Sep 2025	PK₨17.4t	PK₨21.5t	PK₨1.7t	11.6x	10.1x	0.8x
Tue, 19 Aug 2025	PK₨16.4t	PK₨21.5t	PK₨1.7t	11.5x	9.8x	0.8x
Thu, 17 Jul 2025	PK₨15.4t	PK₨21.3t	PK₨1.7t	10.9x	9x	0.7x
Sat, 14 Jun 2025	PK₨14.0t	PK₨21.3t	PK₨1.7t	9.6x	8.2x	0.7x
Mon, 12 May 2025	PK₨12.1t	PK₨20.6t	PK₨1.7t	8.2x	7.2x	0.6x
Wed, 09 Apr 2025	PK₨13.2t	PK₨21.2t	PK₨1.6t	8.1x	8x	0.6x
Fri, 07 Mar 2025	PK₨13.1t	PK₨21.1t	PK₨1.6t	8.6x	8x	0.6x
Sun, 02 Feb 2025	PK₨13.1t	PK₨21.1t	PK₨1.7t	8.9x	7.7x	0.6x
Tue, 31 Dec 2024	PK₨13.8t	PK₨21.7t	PK₨1.8t	8.6x	7.9x	0.6x
Thu, 28 Nov 2024	PK₨11.9t	PK₨22.2t	PK₨1.7t	7.3x	6.9x	0.5x
Sat, 26 Oct 2024	PK₨11.1t	PK₨22.2t	PK₨1.8t	7.2x	6.3x	0.5x
Mon, 23 Sep 2024	PK₨10.2t	PK₨22.1t	PK₨1.9t	6.3x	5.5x	0.5x
Wed, 21 Aug 2024	PK₨9.8t	PK₨21.8t	PK₨1.8t	6.5x	5.4x	0.5x
Fri, 19 Jul 2024	PK₨10.3t	PK₨21.6t	PK₨1.8t	6.8x	5.9x	0.5x
Sun, 16 Jun 2024	PK₨9.7t	PK₨21.6t	PK₨1.7t	6.3x	5.6x	0.5x
Tue, 14 May 2024	PK₨9.6t	PK₨21.6t	PK₨1.8t	5.9x	5.3x	0.4x
Thu, 11 Apr 2024	PK₨9.5t	PK₨21.2t	PK₨1.9t	5.6x	5.1x	0.4x
Sat, 09 Mar 2024	PK₨9.2t	PK₨20.9t	PK₨1.8t	5.7x	5.2x	0.4x
Mon, 05 Feb 2024	PK₨9.1t	PK₨20.3t	PK₨1.7t	5.7x	5.4x	0.4x
Wed, 03 Jan 2024	PK₨9.2t	PK₨20.2t	PK₨1.7t	6.2x	5.5x	0.5x
Fri, 01 Dec 2023	PK₨8.6t	PK₨20.0t	PK₨1.7t	5.7x	5.2x	0.4x
Sun, 29 Oct 2023	PK₨7.4t	PK₨19.4t	PK₨1.6t	5.4x	4.7x	0.4x
Tue, 26 Sep 2023	PK₨6.8t	PK₨19.3t	PK₨1.5t	5.3x	4.7x	0.4x
Thu, 24 Aug 2023	PK₨7.0t	PK₨19.2t	PK₨1.4t	5.6x	4.9x	0.4x
Sat, 22 Jul 2023	PK₨6.8t	PK₨19.2t	PK₨1.4t	5.9x	5x	0.4x

Current Market PE

Investors are optimistic on the Pakistani market, and appear confident in strong long term growth rates.

The market is trading at a PE ratio of 9.2x which is higher than its 3-year average PE of 7.3x.

Past Earnings Growth

The earnings for Pakistani listed companies have grown 13% per year over the last three years.
Revenues for these companies have grown 4.1% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Pakistani Market?


PK Market	-6.13%
Consumer Staples	-2.97%
Consumer Discretionary	-5.18%
Real Estate	-5.19%
Energy	-5.79%
Telecom	-6.21%
Financials	-6.70%
Healthcare	-7.09%
Tech	-7.14%
Materials	-7.23%
Utilities	-7.30%
Industrials	-7.43%

Sector PE

Investors favour the Consumer Staples sector the most for future growth, which is trading close to its 3-year average PE ratio of 17.3x.

It looks like investors are confident that earnings will grow faster in the future than they have historically.

Forecasted Growth

Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 22% over the next 5 years.
However this is lower than its past earnings growth rate of 28% per year.

In contrast, the Utilities sector is expected to see its earnings grow by 4.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation	Sector
KPUS Khairpur Sugar Mills	PK₨2.44k	27.7% +PK₨8.5b	1,508.4%	PE437.6x	Consumer Staples
CNERGY Cnergyico PK	PK₨9.68	14.0% +PK₨6.5b	37.5%	PE3.5x	Energy
GHNI Ghandhara Industries	PK₨1.13k	8.4% +PK₨3.7b	48.8%	PE6.9x	Consumer Discretionary
PSYL Pakistan Synthetics	PK₨155.68	16.3% +PK₨3.0b	122.5%	PE46x	Materials
PRL Pakistan Refinery	PK₨42.05	12.9% +PK₨3.0b	29.3%	PE2.2x	Energy

Company

Last Price

Valuation

Sector

KPUS Khairpur Sugar Mills

PK₨2.44k

27.7%
+PK₨8.5b

1,508.4%

PE437.6x

Consumer Staples

CNERGY Cnergyico PK

PK₨9.68

14.0%
+PK₨6.5b

37.5%

PE3.5x

Energy

GHNI Ghandhara Industries

PK₨1.13k

8.4%
+PK₨3.7b

48.8%

PE6.9x

Consumer Discretionary

PSYL Pakistan Synthetics

PK₨155.68

16.3%
+PK₨3.0b

122.5%

PE46x

Materials

PRL Pakistan Refinery

PK₨42.05

12.9%
+PK₨3.0b

29.3%

PE2.2x

Energy

Jazz International Holding Limited completed the acquisition of 69.75% stake in TPL Insurance Limited (KASE:TPLI) from TPL Corp Limited (KASE:TPL).

Jazz International Holding Limited expressed its intention to acquire 69.75% stake in TPL Insurance Limited (KASE:TPLI) from TPL Corp Limited (KASE:TPL) for PKR 4.2 billion on September 4, 2025. As of March 5, 2026, Jazz International Holding Limited has entered into a Share Purchase Agreement to acquire 69.66% stake in TPL Insurance Limited (KASE:TPLI) from TPL Corp Limited and control of, TPL Insurance Limited. In a related transaction, TPL Corp Limited will acquire approximately a 32% stake in TPL Insurance Limited from DEG and Finnfund and will subsequently sell a portion of this stake through the transaction. On September 8, 2025, the transaction has been approved by the board of TPL Corp Limited. As of December 17, 2025, The board of directors of TPL Corp Limited has granted final approval for the transaction and approved entering into a share purchase agreement the completion remain subject to obtaining all requisite approvals under applicable laws. As of February 11, 2026, the Securities and Exchange Commission of Pakistan (SECP) has approved the acquisition of a controlling stake in TPL Insurance Limited by Jazz International Holding Limited. This partnership between a digital insurer and a major digital operator is expected to increase insurance penetration and foreign investment. The SECP's facilitation of this deal aligns with the goals to foster a transparent, efficient, and investor-friendly environment that encourages both domestic and will bring foreign investment. The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, consummation of due diligence investigation and definitive agreement. As of March 6, 2026, the completion of the transaction remains subject to satisfaction of certain conditions, including obtaining of requisite regulatory approvals and satisfaction of the public offer process by the Acquirer under the terms of the Securities Act, 2015. the transaction is expected to close in mid-2026. As of March 8, 2026, the transaction remains subject to clearance from the Competition Commission of Pakistan (CCP) and is expected to close during Q2 2026. As of April 14, 2026 VEON Ltd. a global digital operator, today announced that the Competition Commission of Pakistan (“CCP”) has authorized the acquisition of TPL Insurance Limited (“TPL Insurance”) by its subsidiary Jazz International Holding Limited. The transaction remains subject to customary closing conditions and is expected to close in mid-2026. Arif Habib Limited acted as financial advisor for Jazz International Holding Limited. Jazz International Holding Limited completed the acquisition of 69.75% stake in TPL Insurance Limited (KASE:TPLI) from TPL Corp Limited (KASE:TPL) on July 14, 2026.

Pakistani (KSE) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

What makes a lasting brand?

Latest News

Jazz International Holding Limited completed the acquisition of 69.75% stake in TPL Insurance Limited (KASE:TPLI) from TPL Corp Limited (KASE:TPL).

Now 24% undervalued

Investor sentiment improves as stock rises 16%

United Bank Limited to Report Q2, 2026 Results on Jul 22, 2026

Investor sentiment improves as stock rises 16%

Investor sentiment improves as stock rises 16%

New minor risk - Market cap size

Discounted Cash Flow Valuation of Lucky Cement Limited (LUCK)

Oil and Gas Development Company Limited Announces Successful Testing and Completion of Development Well Chak 63-05

FFC: Board Review And Higher P/E Assumptions Will Shape Fair Outlook

New minor risk - Share price stability

Price target increased by 7.1% to PK₨317

First quarter 2026 earnings released: EPS: PK₨7.58 (vs PK₨10.28 in 1Q 2025)

First quarter 2026 earnings released: EPS: PK₨12.39 (vs PK₨12.32 in 1Q 2025)

Third quarter 2026 earnings released: EPS: PK₨17.53 (vs PK₨13.37 in 3Q 2025)

Attock Refinery Limited to Report Q2, 2026 Results on Feb 23, 2026