JS Securities Limited - JS Market Wrap (August 30, 2022)

FLASHNEWS:

Karachi Chamber of Commerce Honors Mayor with Crest During Visit

Government Refutes Subsidy Claims on Wheat Imports, Forms Committee to Address Farmer Issues

Karachi Announces Shop Relocation Plan for Market Affectees

JazzCash Delivers PKR 2 Billion in Aid to Flood-Hit Families in Sindh

Lahore Development Authority Sets Date for Major Plot Auction

Brokerage

JS Securities Limited – JS Market Wrap (August 30, 2022)

August 30, 2022

Karachi, August 30, 2022 (PPI-OT): View from the desk

The KSE-100 index failed to sustain its intraday high of 43,052 and slid to close at 42,195, down 309 points DoD. Traded volumes stood at 238mn shares as compared to 229mn shares traded previously. Today’s volume leaders were KEL (-5.4%), WTL (0.8%), UNITY (0.3%), FCCL (-1.1%) and PRL (0.4%). Going forward, JS Securities Limited recommends investors to avail any downside as an opportunity to buy E and P and Banking sector stocks.