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Lower oil prices propelled the KSE 100 smack into the supply zone (176.5-181.5) on good volumes. Expect the market to face resistance b/w 180-182. A pull back from there would be healthy & allow the index to digest the almost vertical move from 162. #PSX #KSE100

Yields down across the board by 10-25bps.

Wow it just blew past 97 within minutes and is now trading at 94. That JD Vance tweet was the icing on the cake #oil

As expected index stomped through 174K and lost steam above 176K. Overhead supply should slow the market’s gains unless oil takes another big dip. #psx #kse100

Also, todays PIB auction where cut off yields were unchanged (compared to last month) may see duration catch a bid as uncertainty over further rate hikes recedes. #psx #KSE100

Given the move in oil, I wouldn’t be surprised if the index blew past the next check point of 174K. There’s an air-pocket of relatively lighter supply till 176K 🤞 #PSX #KSE100

Given the move in oil, I wouldn’t be surprised if the index blew past the next check point of 174K. There’s an air-pocket of relatively lighter supply till 176K 🤞 #PSX #KSE100

KSE 100 closed strongly above the 200D EMA after breaking out of the ascending TL. Volumes were decent today (though not amazing) lending a bit of credence to the move. Next stop should be 174K where the recovery from 161K will face a test. A lot of overhead supply still lies ahead. #psx #KSE100

After a sharp retest of the lower TL and hanging around 103 for a bit, Brent is dropping rapidly towards the next support around 97. It has broken down & the longer it stays broken the higher the probability it goes lower. #oil #psx

The wait is over. Episode 86 is live. Pakistan's Stock Market, Bull Run or Bear Trap? Mustafa Pasha, CFA, ED & CIO of Lakson Investments, joins for a masterclass on macros, sectors and top stock picks for 2026. @MP4FMPK Watch here: youtu.be/gKewDCKtK4k

If you are a salaried person in Pakistan, your taxes are deducted at many different points during the year, and each deduction is properly recorded in the FBR system. For example: Monthly salary: Your employer deducts withholding tax every month and deposits it directly with the government under section 149. Vehicle token Taxes: These taxes are paid through proper challans and are fully traceable and relevant collecting authority deposits the same into Govt treasury under section 231B/234. Utility bills: Electricity, mobile, telephone, and internet bills include withholding taxes that are automatically deducted and reported/deposited to FBR under different sections of income tax ordinance. Foreign transactions: Advance tax under section 236Y is also deducted at source. And there are no of other withholding tax transactions. Since all these taxes are collected in advance, submitted electronically, and in most cases appear in the filer’s IRIS account with proper CPR numbers, the government already knows exactly how much tax a salaried person has paid. Their own system verifies everything. Because of this, there should be no reason to delay refunds or force taxpayers through long application submission procedures—especially when salary is the only source of income. The system already holds all the data; it simply needs to match the tax paid with the actual tax due and automatically issue the refund to the bank account provided in the taxpayer’s FBR profile—just like many other countries do. But in Pakistan, instead of automatic refunds, taxpayers still have to file separate refund applications, wait for months or even years, and deal with unnecessary hurdles. With such a complete and data-rich system already in place, what we truly need now is transparency, automation, and an efficient refund mechanism, so taxpayers receive what is rightfully theirs without delays. @FBRSpokesperson @CMShehbaz Let’s start this year by implementing automatic refunds for salaried individuals whose only source of income is salary, and then gradually expand it to everyone.

OUR FISCAL NIGHTMARE FROM MICHAEL BURRY’S LENS Michael Burry warned: The moment your interest payments exceed tax revenue, your country becomes a Ponzi scheme. Welcome to FY26: - Federal interest payments: Rs 8.3–8.8 trillion - Total federal net revenue (after NFC): Rs 7.5–8.0 trillion Let that sink in: We can’t even pay interest without borrowing more. The federal government is now: - Borrowing to pay interest - Borrowing to run the state - Borrowing to survive It is not sustainable.