ABL Stock Fund

ABL-SF decreased by -2.19% in Oct 25 against-2.33% decrease in the benchmark, reflecting an outperfromance of 14 basis points. In October 2025, the KSE-100 index closed at 161,632 points, marking a 2.3% MoM decline (-3,862 points), with the average traded value rising 3.5% MoM to USD 136.8 million and average volumes surging 20.6% MoM to 654.1 million shares. Net FIPI outflow stood at USD 25.94 million; however, on the domestic side, Individuals and Companies were net buyers of USD 70.85 million and USD 16.61 million, respectively, while Insurance Companies and Other Organizations posted net selling of USD 61.23 million and USD 11.19 million. Market sentiment during the month was influenced by key developments, including the SBP maintaining the policy rate at 11% and Pakistan signing a Staff-Level Agreement with the IMF on the 2nd EFF review, with board approval and disbursement expected in December 2025. Notably, Bloomberg reported a sharp decline in Pakistan's default risk, while the country's geopolitical position strengthened through improved relations with the US, its allies, and China. Additionally, a ceasefire with the Taliban regime eased border tensions, though the temporary disruption of Pak-Afghan trade led to food price spikes. Flood damages were estimated at PKR 822 billion (USD 2.9 billion). Inflation rose to 5.6% YoY in September 2025, with October NCPI recorded at 6.24% YoY. On the external front, the current account recorded a surplus of USD 110 million in September 2025, with the 3MFY26 current account deficit at USD 594 million; the trade deficit widened 10% YoY, while remittances increased 8% YOY. Meanwhile, the Prime Minister introduced the National Maeeshat Electricity Package, aimed at providing relief to agricultural and industrial consumers through concessional rates on incremental electricity usage.