JS Securities Limited - JS Market Wrap (November 23, 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

Brokerage

JS Securities Limited – JS Market Wrap (November 23, 2021)

November 23, 2021

Karachi, November 23, 2021 (PPI-OT): View from the desk

Market witnessed another bloodbath today shedding 796 points to close at 44,948 level. Major contribution in today’s volume of 265mn shares came from TRG (-7.5%), WTL (-2.7%) and BYCO (-4.5%). Overall investor participation at PSX remained sluggish amid ongoing rollover week. Going forward, market may likely consolidate amid uncertainty and lack of positive triggers, therefore, investors are advised to wait for dips in the market to take position in blue chip stocks mainly Banking, Fertilizer and Power sector.