# KSE-100 down 652 points at midday as Fed hike looms tonight; rupee at 277.30

Source: Searchable (https://searchable.pk/news/markets/kse-100-down-652-points-at-midday-as-fed-hike-looms-tonight-rupee-at-27730)
Type: News article
Author: Searchable Editorial
Published: 16 Sept 2026
Updated: 16 Sept 2026
Retrieved: 16 Sept 2026

> Banks led the slide on the PSX while oil stocks held up. The US Fed announces at 11pm Pakistan time, and Worldcall has been moved to the non-compliant segment.

The KSE-100 was at **168,739.98** at 12:35pm on Wednesday, down **652.34 points (0.39%)** from Tuesday's close of 169,392.32. It had traded between 168,334.74 and 169,382.01 by that point, according to the Pakistan Stock Exchange's own index page.

The pullback comes a day after a 1,421.67-point rebound on Tuesday, which itself followed a loss of more than 2,500 points on Monday. The market is swinging with oil prices, the Gulf conflict and, tonight, the US Federal Reserve.

## The numbers at midday

| Index | Level | Change |
|---|---|---|
| KSE-100 | 168,739.98 | -652.34 (-0.39%) |
| KSE-30 | 50,219.86 | -248.23 (-0.49%) |
| KMI-30 (Shariah) | 240,309.64 | -799.10 (-0.33%) |
| All Share | 101,938.10 | -308.66 (-0.30%) |
| Banks (BKTI) | 46,675.46 | -316.84 (-0.67%) |
| Oil and gas (OGTI) | 34,565.90 | +76.98 (+0.22%) |

Banks were the heaviest drag, while oil and gas stocks edged up with crude still above $100. Brent rose to $105.74 a barrel on Tuesday after attacks on Saudi energy infrastructure.

These are intraday figures. The market closes at 3:30pm on Wednesday, and our [KSE-100 page](/data/kse-100) records the day's reading.

## The Fed decides at 11pm Pakistan time

The US Federal Reserve announces its rate decision at 2pm New York time on Wednesday, which is **11pm in Pakistan**. CME FedWatch data put the chance of a **0.25 percentage point hike** at 92.7%, which would lift the US target range to **3.75% to 4.00%**. It would be the Fed's first increase since July 2023.

Why it matters here:

- **A stronger dollar** usually follows a US hike. That puts pressure on currencies like the rupee and on the import bill, which is already swollen by oil above $100.
- **Foreign money** tends to move towards US yields when they rise, which weighs on emerging markets including the PSX.
- **Pakistani rates:** the State Bank held its policy rate at **11.5%** on 11 September. A Fed hike does not change that directly, but it narrows the room for SBP to cut. See [what the hold means for car loans, home loans and savings](/news/economy/sbp-holds-policy-rate-at-11-5-percent-car-loans-home-loans-savings) and the current [12-month KIBOR](/data/kibor-1y).

## The rupee: flat in the interbank market

The rupee closed Tuesday at **Rs 277.30** to the dollar in the interbank market, a gain of one paisa, with the open market at Rs 278.16 buying and Rs 279.02 selling (Business Recorder). It has barely moved for weeks despite the oil shock.

If you are sending or receiving money from abroad, check the rate before you transfer. Our [currency converter](/tools/finance/currency-converter) and the [dollar rate page](/data/usd-pkr) show the latest readings. Gold is also higher today: 24-karat is at Rs 451,664 a tola on our [gold price page](/data/gold-24k-tola).

## Worldcall moved to the non-compliant segment

PSX placed **Worldcall Telecom (WTL)**, one of the market's most heavily traded low-priced shares, back in the **non-compliant segment** from 16 September. The exchange says the company did not pay an additional listing fee that fell due after it raised its paid-up capital; the deadline was 20 November 2025. A court dismissed Worldcall's application for interim relief on 11 September.

What it means for shareholders:

1. The share still trades, but in a segment flagged for non-compliance, which typically means thinner trading.
2. The company has **90 days, until 14 December 2026**, to fix the default.
3. If it does not, PSX says further action can follow, including a risk warning alert.

If you hold WTL, read the PSX notice and the company's response before trading, and do not rely on social media tips.

## What to do today

- **Investors:** a single session's move tells you little. With the Fed decision tonight, expect another swing on Thursday morning. Avoid buying on margin into an event.
- **Borrowers:** nothing changes on your loan today. Floating-rate car and home loans reset on KIBOR, which follows SBP, not the Fed. Run the numbers with the [car loan calculator](/tools/cars/car-loan-calculator) or [home loan calculator](/tools/finance/home-loan-calculator).
- **Families receiving remittances:** the interbank rate is stable; compare what your provider offers against it.

## Frequently asked questions

**What time is the US Fed decision in Pakistan?**

The Federal Reserve announces at 2pm New York time on Wednesday 16 September 2026, which is 11pm Pakistan time.

**Why is Worldcall (WTL) in the non-compliant segment?**

PSX says Worldcall did not pay an additional listing fee due after its paid-up capital increased. It has 90 days, until 14 December 2026, to comply.

## Sources

- Market indices, 16 September 2026, 12:35pm (Pakistan Stock Exchange): https://dps.psx.com.pk/indices
- PSX: Buying returns, KSE-100 gains over 1,400 points (15 Sep 2026) (Business Recorder): https://www.brecorder.com/news/40439549/psx-buying-returns-kse-100-gains-over-1400-points
- Rupee sees improvement against US dollar (15 Sep 2026) (Business Recorder): https://www.brecorder.com/news/40439590/intra-day-update-rupee-records-gain-against-us-dollar
- September Fed meeting: live updates (16 Sep 2026) (Kiplinger): https://www.kiplinger.com/investing/live/fed-meeting-updates-and-commentary-september-2026
- Worldcall placed in non-compliant segment after court dismisses plea (16 Sep 2026) (Business Recorder): https://www.brecorder.com/news/40439754/worldcall-placed-in-non-compliant-segment-after-court-dismisses-plea

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