JS Securities Limited - JS Market Wrap (26-04-2022)

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JS Securities Limited – JS Market Wrap (26-04-2022)

April 26, 2022

Karachi, April 26, 2022 (PPI-OT): View from the desk

Profit taking continued across the board today as benchmark index closed at 45,818, down 256 points DoD. Market opened in the green zone and touched an intraday high of 46,184, however was unable to sustain the momentum. Traded volume stood at 210mn shares with GTECH (5.9%), LOTCHEM (7.5%), HUMNL (-2.9%), WTL (0%) and TELE (1.5%) being the highest contributors. Major index draggers today were HUBC, TRG, PPL, LUCK and POL. Going forward, we recommend investors to avail any dips below 46,000 as a buying opportunity in the Refineries, Banking, Oil and Gas and cyclical sectors.