JS Securities Limited - JS Market Wrap (29-06-2021)

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 (29-06-2021)

June 29, 2021

Karachi, June 29, 2021 (PPI-OT): View from the desk

Bulls made a come-back as the KSE100 gained +506 points in intraday trading, however lost strength due to profit taking, closing at 47,137 level (+135 points). Total traded volume stood at 581mn shares where SILK (9.0%), HASCOL (-9.2%), WTL (2.6%), TPL (6.1%) and TRG (4.5%) accounted for 43% of the aggregate. Recovery was witnessed in the Cement, Banking and Steel sectors where FLYNG (3.0%), PIOC (2.1%), LUCK (0.4%), MCB (0.2%), MEBL (2.0%), HBL (1.4%), INIL (1.8%), CSAP (1.0%), ASTL (0.6%) and ASL (2.2%) were the major movers.

The Auto sector followed the same rising trend where INDU (4.0%), PSMC (1.1%) and HCAR (1.0%) gained to close higher. Investors’ interest was witnessed in TRG (4.5%) from the technology sector. Going forward, we expect the market to behave in a similar trend and recommend investors to avail any downside as a buying opportunity in Steel, Cements and Refineries.