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JS Securities Limited – JS Market Wrap (May 27, 2022)

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Karachi, May 27, 2022 (PPI-OT): View from the desk

Bulls pulled the index to an intraday high of 43,555 (+1,013 points) but profit taking in the second half eventually led the market to close at 42,861, up 320 points DoD. Market reacted positively on government’s announcement of a fuel price hike of Rs30/lit. Traded volume stood at 527mn shares where CNERGY, PRL, WTL, HUMNL and GGL were the volume leaders. Going forward, we expect market to remain range bound in the coming sessions due to political noise.

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