JS Securities Limited - JS Market Wrap (August 10, 2022)

FLASHNEWS:

Pakistan and China Strengthen Ties with New Agreements on Development and Technology

Pakistan Seeks USD 3.5bn Loan from Saudi Arabia for Diamer-Bhasha Dam Project

Currency Exchange Rates Fluctuate in Pakistan

KSE100 Index Achieves 10k Points Milestone, Aims for 100k by Year-End

Pioneer Cement Reports Earnings Decline in 3QFY24 Amidst Lower Offtakes

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JS Securities Limited – JS Market Wrap (August 10, 2022)

August 10, 2022

Karachi, August 10, 2022 (PPI-OT): View from the desk

KSE-100 index closed at 42,495, gaining 399 points compared to the previous trading session. Traded volumes stood at 373mn shares where CNERGY (-0.7%), PRL (0.5%), TPLP (0.8%), LOTCHEM (5.8%) and WTL (2.3%) cumulatively contributed 32% to the total volumes. Moving forward, we recommend investors to adopt a ‘buy-on-dip’ strategy in Banks, E and P and Cement sector stocks.