Six content categories
All analysis is specific to Pakistan's equity market — KSE-100 and KMI-30 universe, PSX-listed companies, SBP monetary policy, and the structural dynamics that drive them. No generic emerging-market commentary.
Macro transmission pieces. How a rate decision, CPI print, or policy change travels from the event to a named sector to specific KSE-100 stocks. Published Friday or Saturday.
KSE-100 breadth, advance/decline data, institutional flows, forward P/E versus the 10-year average, valuation context. Market reading, not market prediction.
At least two named KSE-100 companies per piece, with verified financial data from filings. Revenue drivers, cost structure, regulatory risk, and relative valuation versus history and peers.
Weekly and monthly NCCPL flow data, parsed by investor type and sector. Foreign versus domestic institutional positioning. Block trade detection and anomaly flagging.
Filing-sourced financials, circular debt exposure as percentage of receivables, FCF versus reported EPS divergence, capital allocation track record, and relative valuation. Minimum 1,400 words.
One piece per month, published the first Thursday. Timeless explanations of market mechanics — how to read a PSX quarterly filing, what FIPI actually measures, how circular debt accumulates.
How we investigate markets
Publication schedule
| Day | Output | Platforms |
|---|---|---|
Monday |
Deep anchor — Mechanism thread | X LinkedIn |
Tuesday |
Visual / data chart | X LinkedIn |
Wednesday |
Market take or fresh angle | X LinkedIn |
Thursday |
Sector zoom-in · Evergreen (1st Thursday) | X LinkedIn Website* |
Friday / Sat |
Full weekly publication | Website X LinkedIn Newsletter |
* Website only on Evergreen Thursday (first Thursday of each month)
What you will find in the archive
Three types of published content, each with its own format, length standard, and publication cadence.
Full mechanism analysis. 600–1,200 words on the website. Three platform-specific infographics — X, LinkedIn, and website OG. Seven-beat X thread. LinkedIn post. Beehiiv newsletter digest. Published Friday or Saturday.
All six questions answered. Primary-source data throughout. Named sector and company beneficiaries. The falsifier stated. One forward variable to watch.
Social-native. Published Monday through Thursday on X and LinkedIn. No website article unless elevated to a Type 1 piece by the strength of the analysis.
Shorter mechanism reads. Data-first framing. Draws from or references the weekly anchor theme. Sometimes accompanies a chart or infographic.
One piece per month on the first Thursday. Website-first, then X, LinkedIn, and newsletter. Minimum 600 words. No date dependency — must apply without a specific current event as its anchor.
Timeless explanations of PSX market mechanics: how circular debt accumulates and resolves, what FIPI data actually measures, how to read a Pakistani quarterly filing, how to interpret forward P/E in the PSX context.
What Jamil Research is and is not
Understanding the scope prevents the most common misreading of analytical content.
Four things Jamil Research does not do
No piece published by Jamil Research constitutes personalised investment advice. The analysis explains mechanisms — it does not tell you what to do with your capital.
No published piece contains a target price, a buy-below level, or a return expectation. Valuation analysis is directional and mechanism-based — not a numerical forecast.
Watchlist items are presented as: Ticker | Why it is on the list (mechanism) | What would change the view (falsifier). Nothing beyond that, ever.
No historical return is used to imply future performance. Market mechanisms are explained. Whether they produce a profitable outcome in your specific situation is entirely your judgment to make.
Four things Jamil Research does
The value of a research publication is the quality of its analytical process, not its conclusions.
Every major macro event is traced from its cause through the economy to specific PSX sectors and named KSE-100 companies. The full chain, not just the headline move.
No number is published without a Tier 1 source. No number is published from a single source. If verification cannot be completed, the figure is excluded.
Every analytical thesis names the specific, measurable evidence that would prove it wrong — and the leading indicator to watch. Credible analysis is falsifiable analysis.
The publication is designed to be useful after the trading session — as a reference for understanding PSX mechanics, sector dynamics, and market structure over time.
Three ways to stay current
Each channel delivers a different slice of the research. The newsletter synthesises the week; the website holds the full archive; social publishes the daily mechanism reads.
A four-section digest every Saturday: market summary table, The Mechanism (~300 words on the week's anchor theme), sector data, and the watchlist. Links to the full website article. Delivered via Beehiiv.
Subscribe freeEvery Type 1 and Type 3 publication — full website articles, filterable by category. Sector deep-dives, mechanism analyses, educational explainers. Searchable and permanently available.
Browse the archiveThe daily mechanism reads — Monday through Thursday on X and LinkedIn. Shorter format, primary-source data, same analytical standard. Seven-beat X threads on anchor themes.
Follow on XTerms used frequently in the research
A working vocabulary for readers new to PSX equity research. Each term is used with its precise meaning — no informal shorthand.
Foreign Institutional Portfolio Investment. Net USD flows from foreign institutional investors in Pakistan's equity market. Reported weekly by NCCPL.
Local Institutional Portfolio Investment. Net flows from domestic institutional investors — mutual funds, insurance companies, banks — in Pakistan's equity market.
National Clearing Company of Pakistan Limited. The central clearing house for the PSX, and the primary source for institutional flow data.
The benchmark index of the Pakistan Stock Exchange, comprising the 100 largest companies by market capitalisation. The primary reference index for PSX analysis.
The KSE Meezan Index — the 30 largest Shariah-compliant stocks on the PSX. A separate index tracking the Shariah-compliant universe.
Net Interest Margin. The spread between a bank's yield on earning assets (PIBs, T-bills, advances) and its cost of funds (deposits). The primary earnings driver for PSX banks.
Current Account + Savings Account deposits as a percentage of total deposits. A higher CASA ratio lowers a bank's cost of funds and supports NIM.
The accumulation of unpaid inter-company receivables in Pakistan's energy chain. E&P companies, OMCs, power producers, and refineries are all exposed. Reported as overdue receivables in quarterly filings.
Free Cash Flow divided by market capitalisation. Critical for E&P and OMC analysis, where reported net profit frequently diverges from actual cash generation due to circular debt overdue.
Public Sector Development Programme. The government's annual infrastructure and development spending allocation. A key demand driver for the cement sector.
State Bank of Pakistan. Pakistan's central bank. Sets the policy rate — the primary driver of NIM, PIB yields, and sector cost of debt across the PSX.
Price divided by next 12 months' consensus earnings estimate. The primary valuation benchmark for the KSE-100. The 10-year average for the KSE-100 is approximately 8.0×.
The causal chain from a triggering event to its market impact. Jamil Research uses this term specifically — the full transmission from event to economy to sector to company to earnings to valuation.
The specific, measurable evidence that would prove an analytical thesis wrong. Named explicitly in every piece. A thesis without a falsifier is advocacy, not research.
A market-driven reassessment of a sector's or company's valuation multiple — upward or downward — in response to a structural change in earnings quality, risk, or macro environment.