JS Securities Limited - JS Market Wrap (August 03, 2022)

FLASHNEWS:

NEPRA Approves K-Electric’s $2 Billion Investment Plan Through 2030

MCB Bank Announces 90% Interim Dividend for First Quarter

Prime Minister Shehbaz Sharif Takes Immediate Action on Karachi Business Community Concerns

Indonesia-Pakistan Trade Needs Boost, Says Consul General in Karachi

PCJCCI Outlines Plan to Revitalize Peach Industry in Swat

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JS Securities Limited – JS Market Wrap (August 03, 2022)

August 3, 2022

Karachi, August 03, 2022 (PPI-OT): View from the desk

KSE100 touched its intraday high of 41,208 as PKR made its highest single-day gain of Rs9.6 in interbank raising confidence of investors. As a result, the market closed at the 41,069 level, up by 877 points. Traded volume stood at 333mn shares with WTL (1.7%), TPLP (5.0%), UNITY (1.5%), PRL (5.9%) and CNERGY (2.4%) being the highest contributors to volume. Going forward, we recommend investors a ‘Buy-on-dips’ strategy in Steel, Technology, Refinery and Cement sectors.