JS Securities Limited – JS Market Wrap (October 24, 2022)

Karachi, October 24, 2022 (PPI-OT): View from the desk

KSE-100 index kicked off on a positive note on back of Pakistan’s removal from FATF’s grey list and touched an intraday high of +459 points. The index eventually closed at the level of 42,347, gaining 134 points compared to previous close. Traded volumes stood at 227mn shares where WTL (+4.6%), DFML (+8.9%), PRL (+0.6%), HASCOL (+1.8%) and TRG (+3.1%) were the major contributors. Going forward, we recommend investors to stay cautious at current levels and wait for dips for any fresh buying.