JS Securities Limited - JS Market Wrap (January 11, 2022)

FLASHNEWS:

KSE100 Index Sees Notable Gains as Market Optimism Grows

KSE100 Index Experiences Correction After Recent Highs

FFBL Reports Strong First Quarter Turnaround, Plans Expansion in Product Line

Currency Fluctuations Observed in Pakistan’s Foreign Exchange Market

KSE-100 Index Faces Volatility, Approaching Critical Support Levels

Brokerage

JS Securities Limited – JS Market Wrap (January 11, 2022)

January 11, 2022

Karachi, January 11, 2022 (PPI-OT): View from the desk

The benchmark index witnessed profit taking across the board and managed to close flat at 45,881, losing 7 points DoD. Major laggards were SYS, ENGRO, LUCK, HUBC and OGDC while major volume leaders for the day were WTL, HASCOL, TRG, HUMNL and TELE. We believe index can take a short-term correction from current levels and we recommend a buy on dips strategy in Technology, Fertilizer, Banking and cyclical sector stocks.