JS Securities Limited - JS Market Wrap (September 13, 2022)

FLASHNEWS:

KSE-100 Experiences Volatility, Closing Lower in Recent Session

KSE-100 Sees Decline, Mixed Indicators Suggest Uncertain Future in Karachi Market

Karachi Stock Exchange Sees Modest Movements Amid Varied Sector Performances

HBL Launches Women’s Tekken Tournament in Lahore to Empower Female Gamers

Pakistani Banks to Implement IFRS 9 Standards Starting January 2024

Cement Companies’ Earnings Outlook Mixed in Upcoming Quarterly Results

VIS Credit Rating Reaffirms ‘A+/A-1’ Ratings for Zephyr Power Limited with Stable Outlook

PTCL Group Reports 14% Revenue Growth in Q1 Amid Expanding Digital Services

Foodpanda and CIRCLE Partner to Boost Women Entrepreneurs in Pakistan’s Culinary Industry

Zong Business Partners with China Gezhouba Construction Management Services to Enhance Digital Operations

Exchange Rates Experience Minor Fluctuations in Pakistan’s Currency Market

Telenor Microfinance Bank Reports PKR 1.2 Billion Pre-tax Profit in 2023, Secures Digital Retail Bank License

Fly Jinnah Launches Islamabad-Muscat Route, Expands International Service

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

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JS Securities Limited – JS Market Wrap (September 13, 2022)

September 13, 2022

Karachi, September 13, 2022 (PPI-OT): View from the desk

Bulls pulled the KSE100 to an intraday high of 230 points where across the board profit taking was witnessed, eventually leading the market to close at the 42,001 level, up 139 points. Results announcements are approaching whereas no triggers moved the market in a dull volume session. Traded volume stood at 119mn shares with HASCOL (+3.2%), KEL (-0.3%), QUICE (+17.1%), JSBL (+1.3%) and WTL (0.0%) as primary volume contributors. Going forward, we recommend investors to adopt a ‘Buy on dips’ strategy in the Steel, Technology, Refinery and Cement sectors.