We maintain our overweight stance on the Pakistan Cement
sector in anticipation of the expected recovery on both demand and pricing
side. In our base case, we had assumed domestic dispatches growth of 8% in both
north and south regions. However, recent trends of Jul and Aug 2025 suggest the
actual growth could be much higher.In Jul 2025, domestic cement sales were up 18% YoY, while
the first 17 days of August were depicting trend of 28% YoY. We believe, 2MFY26
domestic sales ...
Cement dispatches clocked in at 4mn tons in Jul-2025,
reflecting a 30% YoY increase, driven by growth in both local and export
volumes of 18% and 84% respectively, mainly due to the low base of Jul-2024.On a MoM basis, dispatches rose 16%, with local and export
volumes up 15% and 17% respectively, owing to more working days in Jul-2025 as
Jun-2025 was affected by Eid holidays.We maintain an overweight stance on the sector, underpinned
by the anticipated recovery in local dema ...
After a weak start to the week, PSX rebounded sharply over
the last two sessions, closing at 141,035 points, up 1.3% WoW. The index also
touched a new high of 141,161 points during the week. Average daily turnover
(ADTO) decreased 12% WoW.The rebound was primarily driven by a historic US deal aimed
at tapping Pakistan’s oil reserves, which triggered a strong rally in oil
stocks. Sentiment was further supported by the United States reducing tariffs
on Pakistani exports to 19% ...