BSL — Bhayani Securities (Pvt) Ltd.

Market Flows

FIPI & LIPI — Investor Flows

Who bought and who sold on the Pakistan Stock Exchange — every investor category, sector by sector, from NCCPL daily data. As of 17 Sep 2026.

Flows by participant & sector

Every investor category crossed with every sector — pick any period

Every settled trade on the PSX belongs to an investor category, and NCCPL — the market’s clearing house — publishes the daily tally: FIPI nets all foreign activity, LIPI splits local activity across individuals, funds, banks, companies, brokers, and insurers. The tables below cross each participant with the sectors they traded — one side’s selling is the other side’s buying, so the two tables are mirror images of the same ledger.

As of 17 Sep 2026, foreign investors were net sellers of US$0.82mn (Rs 227.6mn); the largest local counterparty was Banks / DFIs (-Rs 1.73bn). Foreign money bought Fertilizer (Rs 24.5mn) and sold Commercial Banks (-Rs 191.3mn). FY27 to date: net US$2.10mn over 55 sessions (26 net-buy days, 29 net-sell).

1 trading session, 2026-09-17 · figures in Rs mn (Net US$ in US$ mn) · sector columns are net values.

Foreign investors (FIPI) — by participant & sector

Bought/Sold/Net across all market segments · sector cells: net investment per industry

ParticipantBoughtSoldNetNet US$CementFertilizerPowerBanksOthersFMCGsTechTextileE&POMCDebt Mkt
Overseas Pak.1,4181,2341840.6721.024.5-0.211264.6-23.4-3.58.3-33.814.6-0.0
Foreign Corp.99.7512-412-1.49-37.0-2.5-30431.7-20.112.9-85.0-8.4
FIPI Total1,5181,745-228-0.82-16.024.5-2.7-19196.3-23.4-23.721.2-1196.2-0.0

Local investors (LIPI) — by participant & sector

The local mirror of foreign flows — every column totals to the opposite of FIPI

ParticipantBoughtSoldNetNet US$CementFertilizerPowerBanksOthersFMCGsTechTextileE&POMCDebt Mkt
Individuals19.4bn17.9bn1,5195.4825530.628.4254496-15.1-15.520.542737.50.7
Insurance7261166102.20-1.25.8-2.749.110.10.2-1.0-0.846.2-19.1523
Mutual Funds19.4bn19.3bn87.20.31-335-68.3-49.8191-559-23.6-27.5-49.8-319-38.81,368
Other Orgs19314746.20.1711.20.74.523.5-2.10.0-0.34.4-0.85.2
Broker Prop.3,3113,351-39.9-0.1433.80.511.64.5-84.847.25.73.11.9-11.8-51.6
NBFCs48.5101-52.3-0.19-0.0-3.6-0.0-47.9-0.90.0
Companies8011,016-215-0.7831.26.17.5-38452.5-9.71109.1-54.115.8
Banks / DFIs3,7605,487-1,727-6.2421.03.353.6-5.424.5-6.818.05.0-1,840
LIPI Total47.7bn47.4bn2280.8216.0-24.52.7191-96.323.423.7-21.2119-6.20.0

Foreign flows over time

Daily net FIPI with the fiscal-year running total — pick any window

Bars: daily net FIPI (US$ mn, green = net buying). Line: cumulative fiscal-year-to-date (right axis; resets every July 1). 252 sessions shown.

Mutual fund flows

What Pakistan's mutual funds are buying and selling on the PSX - daily net, fiscal-year-to-date, and by sector

Mutual funds are one of the largest local institutions on the PSX - the “Mutual Funds” category in NCCPL’s LIPI breakdown. Their net buying and selling tracks where domestic institutional money is rotating, and often the counterweight to the foreign (FIPI) flows above.

As of 17 Sep 2026, mutual funds were net buyers of Rs 87.2mn (US$0.31mn). FY27 to date: net -Rs 8.80bn over 55 sessions (19 net-buy days, 36 net-sell).

Net today
Rs 87.2mn
US$0.31mn · 17 Sep 2026
Net FY27 to date
-Rs 8.80bn
-US$31.54mn · 55 sessions
Current streak
2 buying
since 16 Sep 2026
Biggest buy day
Rs 17.48bn
US$63.10mn · 11 Sep 2026

Bars: daily net mutual-fund flow (US$ mn, green = net buying). Line: cumulative fiscal-year-to-date (right axis; resets every July 1). 252 sessions shown.

FY27 mutual fund flows by sector

Net mutual-fund buying/selling per sector this fiscal year · green = net buying, red = net selling

SectorNet (Rs)
Oil and Gas Marketing CompaniesRs 2.71bn
Commercial BanksRs 1.32bn
Food and Personal Care Products-Rs 543.8mn
Technology and Communication-Rs 684.4mn
Textile Composite-Rs 1.47bn
Power Generation and Distribution-Rs 1.90bn
Fertilizer-Rs 3.98bn
Cement-Rs 4.88bn
Oil and Gas Exploration Companies-Rs 7.88bn

Sector rotation

Where foreign money moved, month by month — net FIPI per sector

Monthly foreign flows by sector

Net FIPI in Rs mn · green = net buying, red = net selling · the newest month is month-to-date

MonthCementFertilizerPowerBanksOthersFMCGsTechTextileE&POMCAll equity
Sep '26·MTD-1,141278149-4,1432,430-72.7-10186.6-915-104-3,534
Aug '26-1,012-156-50.8-2,868-46.456.5-1,6171421,060-1,082-5,574
Jul '26-60.0480-7543,8334,91614.2-1,007-68.31,8603449,557
Jun '26-5,833-257-6172,493-979-43.8bn-99.1-1,885178192-50.6bn
May '26-1,489274-396-3,920-971-54.0427-2441,317278-4,778
Apr '26-927224959-1,001-294-4.8720-80.9-304497-211
Mar '26-8,443-812-313-8,531-6691,6501,113186961-51.3-14.9bn
Feb '26-64.0bn-646-934-1,993-2,274-343-3,78941.4-2,373-1,751-78.1bn
Jan '26-1,689-578-534-7,748-1,494-6,594-1,573-25.71,386230-18.6bn
Dec '25-2,110-532-3,775-7,316-1,301-19964182.8-343129-14.7bn
Nov '25-2,945-1,00840.5-4,225-63412.0-7333.6-2,002-206-11.7bn
Oct '25-5.6-2,505-929-1,183812-1,067708-341-2,245-392-7,148
Sep '251,095-2,593-1,718-5,979-1,019-544-852-674-2,311-1,672-16.3bn
Aug '25-538-1,191-620975-3,737-575-1,676-168-2,612-2,096-12.2bn
Jul '25146-192-136-1,900-1,621-1,607-350-55.0-2,937-353-9,006

Reading it: a column flipping from red to green marks foreign money rotating back into that industry. Equity segments only — debt-market flows excluded.

Records & streaks

Extremes and runs across 305 sessions since 01 Jul 2025

Biggest foreign buy day
Rs 2.53bn
US$9.10mn · 16 Jul 2026
Biggest foreign sell day
-Rs 55.39bn
-US$197.81mn · 20 Feb 2026
Longest foreign buying run
10 sessions
08 Jul 2026 → 21 Jul 2026
Current foreign streak
2 selling
since 16 Sep 2026

Local categories — records & current runs

Biggest single-session moves and active streaks per LIPI category

ParticipantBiggest buy dayBiggest sell dayCurrent streakLast net buyLast net sell
IndividualsRs 5.51bn · 03 Dec 2025-Rs 15.05bn · 23 Jun 20267 sessions buying17 Sep 202608 Sep 2026
Broker Proprietary TradingRs 2.27bn · 07 May 2026-Rs 3.06bn · 09 Feb 20266 sessions selling09 Sep 202617 Sep 2026
Insurance CompaniesRs 9.52bn · 21 Oct 2025-Rs 14.97bn · 15 Oct 20255 sessions buying17 Sep 202610 Sep 2026
Banks / DFIsRs 32.44bn · 07 Oct 2025-Rs 381.87bn · 08 Dec 20252 sessions selling15 Sep 202617 Sep 2026
CompaniesRs 403.67bn · 08 Dec 2025-Rs 2.76bn · 09 Jul 20262 sessions selling15 Sep 202617 Sep 2026
Mutual FundsRs 17.48bn · 11 Sep 2026-Rs 32.60bn · 07 Oct 20252 sessions buying17 Sep 202615 Sep 2026
Other OrganizationsRs 1.92bn · 03 Mar 2026-Rs 1.80bn · 22 Jul 20252 sessions buying17 Sep 202615 Sep 2026
NBFCsRs 386.1mn · 01 Dec 2025-Rs 112.8mn · 20 Aug 20261 session selling16 Sep 202617 Sep 2026

Who buys when foreigners sell?

Same-day counterparty analysis over the last 252 sessions

Foreign investors were net sellers on 178 of 252 sessions, offloading Rs 247.08bn in total on those days. Companies took the other side most, absorbing 60% of that selling. Absorption share is each category’s net buying on foreign sell-days as a share of total foreign selling — negative means the category sold alongside foreigners.

ParticipantNet on foreign sell-daysShare of foreign selling absorbedNet on foreign buy-daysMoves opposite foreigners
CompaniesRs 148.83bn60%Rs 412.38bn58% of sessions
Banks / DFIsRs 69.13bn28%-Rs 372.06bn58% of sessions
IndividualsRs 54.96bn22%Rs 44.81bn53% of sessions
Broker Proprietary TradingRs 4.22bn2%-Rs 8.25bn54% of sessions
NBFCsRs 831.6mn0%Rs 183.9mn54% of sessions
Other OrganizationsRs 633.4mn0%-Rs 2.95bn48% of sessions
Mutual Funds-Rs 1.64bn-1%-Rs 74.68bn58% of sessions
Insurance Companies-Rs 29.88bn-12%-Rs 35.19bn54% of sessions

Local money in depth

Which investor categories are buying and selling FY27 — and how consistently

FY27 scoreboard — net local flows by category

Net buys/sells across all sessions this fiscal year · consistency = net-buy vs net-sell days

Investor typeNet (FY27)Net (US$)Net-buy daysNet-sell days
IndividualsRs 26.67bnUS$96.08mn3718
CompaniesRs 5.10bnUS$18.41mn3817
Other OrganizationsRs 1.64bnUS$5.91mn3223
NBFCsRs 146.4mnUS$0.53mn3322
Insurance Companies-Rs 1.91bn-US$6.88mn3619
Broker Proprietary Trading-Rs 2.36bn-US$8.51mn2332
Mutual Funds-Rs 8.80bn-US$31.54mn1936
Banks / DFIs-Rs 21.09bn-US$76.10mn2134

FIPI & LIPI FAQs

Quick answers, updated with the data

As of 17 Sep 2026, foreign investors (FIPI) were net sellers of US$0.82mn (Rs 227.6mn) across all market segments. FY27 to date they are net buyers of US$2.10mn over 55 sessions.

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