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Analyst Opinion
PSX - Pakistan Stock Exchange Ltd.
PSX: Structural growth in listings and retail participation supports earnings outlook
Muhammad Wajahat    9/22/2026 8:55:41 AM
SCS Research sees PSX as remaining well positioned to benefit from rising market activity, supported by multiple new listings, improving account openings in the Sahulat & Roshan Digital category, and a potential value unlock from CDC’s expected listing. The exchange’s ~40% stake in CDC provides additional optionality, while earnings are expected to improve meaningfully in FY27. Revenue drivers: ~Multiple listings in 1HCY26 should support fee income. ~New account openings are likely to drive higher trading volumes. SCS is also one of the front runners in account openings which included normal UIN activation, Sahulat & Roshan Digital a/c opening. ~ Also, SCS sees a growing potential trend of minors' account openings. ~CDC’s widely anticipated listing whilst September is a positive catalyst for PSX. ~PSX owns ~40% of CDC, which adds value. ~ PSX also holds a beneficial holding in National Clearing (NCCPL) of 49.71% and e-clear Services 25%. ~FY26 EPS stood at PKR 2.8, while FY27 EPS is expected at PKR 5.0/sh. ~PSX is yielding FY27 P/E of 8.5x.
Link: files/technical-reports/102/report.pdf
PSX - Pakistan Stock Exchange Ltd.
Buy Zone Alert: PSX Between PKR 53.48–53.60
M Wajahat    8/13/2026 12:00:00 AM
PSX has presented a favourable buying opportunity, with the stock offering an attractive entry point within the PKR 53.48–53.60 range. Investors are advised to accumulate the stock within this range. The expected upside targets stand at PKR 56.50, 60.35, and 63.90. To effectively manage downside risk, a strict stop-loss should be maintained at PKR 47.91
Link: https://scstrade.com/research/Research%20Reports/General/Technical%20Analysis%20Report%20PSX%20Aug%2013,%202026...pdf
PSX - Pakistan Stock Exchange Ltd.
PSX: Structural growth in listings and retail participation supports earnings outlook REP033
Ahsan Muhammad Asif    7/31/2026 12:00:00 AM
SCS Research sees PSX remaining well positioned to benefit from rising market activity, supported by multiple new listings, improving account openings in the Sahulat & Roshan Digital category, and a potential value unlock from CDC’s expected listing. The exchange’s ~40% stake in CDC provides additional optionality, while earnings are expected to improve meaningfully in FY27. Revenue drivers: ~Multiple listings in 1HCY26 should support fee income. ~New account openings are likely to drive higher trading volumes. SCS is also one of the frontrunners in account openings, which included normal UIN activation, Sahulat & Roshan Digital a/c opening. ~ Also, SCS sees a growing potential trend of minors' account openings. ~CDC’s widely anticipated listing in September is a positive catalyst for PSX. ~PSX owns ~40% of CDC, which adds value. ~ PSX also holds beneficial holdings in National Clearing (NCCPL) of 49.71% and e-clear Services of 25%. ~9MFY26 EPS stood at PKR 1.8, while FY27 EPS is expected at PKR 6.0/sh. ~PSX is yielding FY27 P/E of 8.5x.
Link: https://www.linkedin.com/in/mahsan178/