JS Securities Limited - JS Research (08-07-2021)

FLASHNEWS:

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

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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 Research (08-07-2021)

July 8, 2021

Karachi, July 08, 2021 (PPI-OT): View from the desk

Profit-taking continued across the board as the KSE100 closed at 47,346, shedding 83 points. Market opened in green zone and touched an intraday high of 47,665 but was unable to sustain at these levels and dropped down to 47,242 during the day. Major selling pressure was witnessed in Refineries, where NRL (-6.6%), ATRL (-4.0%) and PRL (-2.8%) closed in the red. The Cement sector gained momentum after the news of price increases by Rs25/bag in the South and Rs10/bag in the North but fell victim of profit-taking later on. Traded volume stood at 541mn shares with HASCOL (10.9%), WTL (-3.0%), BYCO (-0.9%), PIAA (1.3%) and GGL (0%) being the highest volume contributors. Going forward, we recommend investors to avail any downside as an opportunity to buy in construction and export-oriented sectors.