JS Securities Limited - JS Market Wrap (August 23, 2022)

FLASHNEWS:

LDA Plans Upgrades for Lahore’s Katchi Abadis to Enhance Living Conditions

LDA to Auction Prime Commercial Plots in Lahore’s Finance and Trade Central

DHA Quetta to Hold Sector A6 Ballot on May 18, Offers Instalment Relief

Karachi Administration Orders Evacuation of Decaying Buildings for Public Safety

Faisalabad Electric Supply Company Promotes 18 Junior Engineers to Senior Positions

Brokerage

JS Securities Limited – JS Market Wrap (August 23, 2022)

August 23, 2022

Karachi, August 23, 2022 (PPI-OT): View from the desk

Market welcomed the decision of State Bank to pause monetary tightening for now. KSE100 index gained over 540 points to eventually close at 43,367. Volumes stood at 324mn shares where HASCOL (5.3%), KEL (1.5%), WTL (-1.4%), PRL (0.4%) and CNERGY (0.4%) cumulatively contributed 41% to the aggregate. Going forward, we recommend investors adopt a buy-on-dips strategy in Banking, E and P and Textile sectors.