JS Securities Limited – JS Market Wrap (03-05-2021)

Karachi, May 03, 2021 (PPI-OT): View from the desk

The KSE-100 Index witnessed a volatile session today, where bears remained in control throughout the day, closing the index down by 186 points to close at 44,076 level. The market came in the positive zone during the day however could not sustain due to aggressive selling by market participants. Overall traded volume stood at 238mn shares where UNITY (4.1%), TELE (-7.0%), GGL (-7.0%), TRG (-7.1%) and WTL (-2.1%) were the volume leaders.

In other news, headline inflation clocked-in at 11.10% YoY in Apr-2021. Going forward, the market is likely to remain volatile in the remaining sessions before upcoming Eid Holidays and buy on dips is advised strictly in blue chip stocks especially banking sector which can remain in the limelight in the coming days.

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