JS Securities Limited - JS Market Wrap (01-10-2021)

FLASHNEWS:

Sindh Government Commits PKR 14.7 Billion to K-IV Water Project

Snow Leopards Threatened by Road Construction in Gilgit-Baltistan

Punjab Government Subsidizes Agricultural Equipment to Boost Rice Farming Efficiency

Engro Fertilizers and Engro Polymer Expect Declines in Quarterly Earnings as per AKD Securities

Japan Grants $9.8 Million for Development Projects in Islamabad

PSX Experiences Minor Downturn Amid Varied Sector Performances

Technical Indicators Suggest Caution in Karachi Stock Market Trading

Exchange Rates Fluctuate Slightly in Pakistan’s Currency Market

KSE-100 Sees Minor Retreat Amidst Trading Caution

Fauji Cement and DG Khan Cement Anticipate Mixed Financial Outcomes for Q3 FY24

Spotify and Coke Studio Pakistan Announce Continued Collaboration for Music Season 15 in Karachi

SITE President Calls for Action as Rising Production Costs Threaten Factory Operations

FPCCI Criticizes Recent Increases in Petroleum Prices Despite Favorable Economic Indicators

Shabbir Mansha Churra Named Chairman of Pakistan-China Business Council

Brokerage

JS Securities Limited – JS Market Wrap (01-10-2021)

October 1, 2021

Karachi, October 01, 2021 (PPI-OT): View from the desk

The local bourse witnessed range-bound activity today as the KSE100 moved between 45,003 and 44,600 points. The benchmark index eventually closed at 44,872, down 28 points. Traded volume stood at 267mn shares with TPL (+0.2%), BYCO (+0.2%), HASCOL (+8.5%), ASL (+3.7%) and WTL (+2.2%) being the top contributors. On the news front, US Secretary of State Antony Blinken acknowledged the role of Pakistan to facilitate the success of the Doha peace process. Moving forward, we expect range-bound activity to continue in coming sessions and recommend investors to avail any downside as an opportunity to buy stocks from the Banks and Textile sectors.