JS Securities Limited - JS Market Wrap (September 05, 2022)

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 (September 05, 2022)

September 5, 2022

Karachi, September 05, 2022 (PPI-OT): View from the desk

The KSE-100 Index remained under pressure throughout the day losing 450 points to close in at the 41,859 level. Major contributors to the volume of 157mn shares were WTL (-4.0%), PRL (-4.8%), HASCOL (1.6%), CNERGY (-1.5%) and KEL (-2.7%). Rising concerns over the economic impact of floods and lack of positive triggers kept investors away from market participation. Going forward, we recommend investors to stay cautious as the negative market sentiment is expected to continue. Although we highlight that the downside can be availed as an opportunity to buy.