JS Securities Limited - JS Market Wrap (06-10-2021)

FLASHNEWS:

KSE-100 Experiences Volatility, Closing Lower in Recent Session

KSE-100 Sees Decline, Mixed Indicators Suggest Uncertain Future in Karachi Market

Karachi Stock Exchange Sees Modest Movements Amid Varied Sector Performances

HBL Launches Women’s Tekken Tournament in Lahore to Empower Female Gamers

Pakistani Banks to Implement IFRS 9 Standards Starting January 2024

Cement Companies’ Earnings Outlook Mixed in Upcoming Quarterly Results

VIS Credit Rating Reaffirms ‘A+/A-1’ Ratings for Zephyr Power Limited with Stable Outlook

PTCL Group Reports 14% Revenue Growth in Q1 Amid Expanding Digital Services

Foodpanda and CIRCLE Partner to Boost Women Entrepreneurs in Pakistan’s Culinary Industry

Zong Business Partners with China Gezhouba Construction Management Services to Enhance Digital Operations

Exchange Rates Experience Minor Fluctuations in Pakistan’s Currency Market

Telenor Microfinance Bank Reports PKR 1.2 Billion Pre-tax Profit in 2023, Secures Digital Retail Bank License

Fly Jinnah Launches Islamabad-Muscat Route, Expands International Service

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

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JS Securities Limited – JS Market Wrap (06-10-2021)

October 6, 2021

Karachi, October 06, 2021 (PPI-OT): View from the desk

The KSE100 index made an intraday high of 44,795 points in the initial hours but could not sustain momentum and slid to close negative at a level of 44,373. Increasing commodity prices amid supply concerns dampened market sentiments. Major volume contributors of the session were UNITY (0.3%), TELE (-6.8%), WTL (-4.9%), TREET (-5.1%) and BYCO (-3.2%). The market is expected to remain volatile in the coming sessions and valued buying across the board with a medium-term outlook is advised.