JS Securities Limited - JS Market Wrap (November 22, 2021)

FLASHNEWS:

Sindh Government Commits PKR 14.7 Billion to K-IV Water Project

Snow Leopards Threatened by Road Construction in Gilgit-Baltistan

Punjab Government Subsidizes Agricultural Equipment to Boost Rice Farming Efficiency

Engro Fertilizers and Engro Polymer Expect Declines in Quarterly Earnings as per AKD Securities

Japan Grants $9.8 Million for Development Projects in Islamabad

PSX Experiences Minor Downturn Amid Varied Sector Performances

Technical Indicators Suggest Caution in Karachi Stock Market Trading

Exchange Rates Fluctuate Slightly in Pakistan’s Currency Market

KSE-100 Sees Minor Retreat Amidst Trading Caution

Fauji Cement and DG Khan Cement Anticipate Mixed Financial Outcomes for Q3 FY24

Spotify and Coke Studio Pakistan Announce Continued Collaboration for Music Season 15 in Karachi

SITE President Calls for Action as Rising Production Costs Threaten Factory Operations

FPCCI Criticizes Recent Increases in Petroleum Prices Despite Favorable Economic Indicators

Shabbir Mansha Churra Named Chairman of Pakistan-China Business Council

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JS Securities Limited – JS Market Wrap (November 22, 2021)

November 22, 2021

Karachi, November 22, 2021 (PPI-OT): View from the desk

KSE-100 index went up by 112 points during the intraday, however, failed to sustain the positive momentum. With the weekend announcement of two major events (1) 1.5% hike in interest rate and (2) staff level agreement reached with IMF, coupled with the rollover week. Hence, the KSE-100 index closed at 45,745 levels, down 744 points. Realization of IMF money with Saudi assistance package is expected to provide a reason for the market to rebound.