FLASHNEWS:

JS Securities Limited – JS Market Wrap (30-06-2021)

Karachi, June 30, 2021 (PPI-OT): View from the desk

Optimistic investors kept the index in the green zone today and the bourse closed with a gain of +218 points at 47,356 level. Traded volume slid by 5% to 549mn shares where the highest contribution came from SILK (-2.4%), WTL (1.3%), TPL (7.1%), FFL (-2.7%) and PACE (2.3%). On the news front, the World Bank has approved two loans worth US$800 million for clean energy and investments in human capital.

Refineries faced an upward trend where BYCO (1.7%), PRL (1.2%), ATRL (2.5%) and NRL (1.5%) closed higher. Activity was witnessed in the cement sector on back of rumours that manufactures are likely to increase cements prices. Therefore MLCF (2.2%), DGKC (0.6%), PIOC (1.1%) and DCL (2.1%) were the major movers for the day. Going forward we expect the market to maintain the positive trend and recommend investors to avail any downside in construction and export oriented sector.