JS Securities Limited - JS Market Wrap (June 30, 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 (June 30, 2022)

June 30, 2022

Karachi, June 30, 2022 (PPI-OT): View from the desk

The local bourse witnessed another volatile session where it closed at 41,541, gaining 243 points DoD. A total of 193mn shares were traded where KEL (-1.6%), AGL (+17.7%), FCCL (-1.8%), WTL (-2.2%) and PRL (-1.2%) were the major contributors. Market is expected to remain range-bound due to current political scenario and finalization of deal with the IMF. Going forward, we recommend investors to stay cautious but avail any downside as a buying opportunity.