Market sentiment | TBill yields down & Cement sector news | Midday Flash 12 Nov 2026

Midday Flash (12 Nov 2026) by SCS Trade covers key developments in the Pakistan Stock Exchange (PSX), including a 48-basis-point decline in T-Bill yields, Attock Refinery's (ATRL) addition to the MSCI Standard Pakistan Index, and the ongoing Punjab cement royalty dispute. We also examine PPL's deep drilling at the Sui gas field, Nishat Group's EV investments, and sector valuations relevant to KSE-100 investors monitoring earnings season and Pakistan's economic outlook. What's covered in this video: T-Bill Yields & SBP Policy Rate: Treasury yields declined by approximately 48 basis points as the government raised Rs. 551 billion, strengthening the discussion around future monetary easing. ATRL — MSCI Index Inclusion: Attock Refinery (ATRL) was added to the MSCI Standard Pakistan Index, while Flying Cement (FLYNG) and Pakistan Oxygen (PAKOXY) were removed from the Small Cap Index. Cement Sector — Punjab Royalty Dispute: Punjab's limestone royalty stands around Rs. 1,755 per ton compared with Rs. 385 in KPK. The ongoing court case could affect production costs for BWCL, MLCF, DGKC, FCCL and other northern cement manufacturers. PPL — Sui Deep Gas Exploration: Pakistan Petroleum (PPL) has drilled two deep exploratory wells at the historic Sui gas field, exploring opportunities to access deeper gas reserves. PIBTL — Cargo Handling & Mineral Exports: Pakistan International Bulk Terminal handled 21 cargo vessels in October, while its potential role in future mineral exports under the SIFC framework remains under consideration. NPL & NCPL — EV Investment Exposure: Nishat Power (NPL) and Nishat Chunian Power (NCPL) each hold approximately 33% equity in NextGen Motors, connecting their associate earnings to Jaecoo and Omoda vehicle operations. Pharmaceutical & Banking Valuations: Pharmaceutical stocks are discussed at P/E multiples of 9x–13x versus historical peaks of 20x–30x, alongside banking valuations and book-value comparisons. Whether you are tracking the KSE-100 index, doing fundamental analysis, or looking for the latest equity market updates, this breakdown has you covered. Join our webinar: https://invest.scstrade.com/webinar New to investing? Start here: https://invest.scstrade.com/new-to-investing Contact: UAN: 111-111-721 Ext: 117 & 118 New Account Opening: 0321-8296919, 0307-1-SCSSCS (727727) IT Related Support: 0306-1-SCSSCS (727727) Payments and Withdrawals: 0305-1-SCSSCS (727727) Website: https://scstrade.com/ Facebook: https://www.facebook.com/scstradez Instagram: https://www.instagram.com/scstradecom/ Twitter: https://x.com/scstrade LinkedIn: https://www.linkedin.com/company/standard-capital-securities-pvt-ltd TikTok: https://www.tiktok.com/@scstradez Disclaimer: Any insight is purely for educational purposes only. Always do your own analysis before making investments. #PSX #PakistanStockMarket #KSE100 #KSE100Index #StockMarketPakistan #MarketAnalysis #ATRL #PPL #CementStocks #TBillAuction #MSCI #PIBTL #NPL #NCPL #PharmaStocks #BankingStocks