JS Securities Limited - JS Market Wrap (December 28, 2021)

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

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JS Securities Limited – JS Market Wrap (December 28, 2021)

December 28, 2021

Karachi, December 28, 2021 (PPI-OT): View from the desk

Market remained lacklustre today over rising concerns regarding the political situation, resumption of IMF program and announcement of mini-budget. Major contribution to the traded volume of 143mn shares came from TRG (4.6%), HUMNL (3.4%), KEL (0.6%), UNITY (0.1%) and WTL (0%). Going forward, we expect this range-bound activity to continue. We recommend investors to avail any downside as an opportunity to buy in the Banking and E and P sectors.