FLASHNEWS:

JS Securities Limited – JS Market Wrap (August 02, 2022)

Karachi, August 02, 2022 (PPI-OT): View from the desk

Bourse opened on a negative note and remained volatile due to political noise. But the index showed good recovery after the IMF resident representative in Islamabad, Esther Perez Ruiz, praised Pakistan on taking all necessary measures. Benchmark KSE 100 closed at the 40,192 level today, gaining 116 points DoD. Traded volume stood at 217mn shares where TPLP (6.5%), AGL (6.8%), PRL (5.0%), CNERGY (1.9%) and GGL (3.4%) were the highest contributors to volume. Going forward, we recommend investors to adopt a buy on dip strategy in the Banking and E and P sectors.