JS Securities Limited - JS Market Wrap (September 09, 2021)

FLASHNEWS:

LDA Plans Upgrades for Lahore’s Katchi Abadis to Enhance Living Conditions

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Karachi Administration Orders Evacuation of Decaying Buildings for Public Safety

Faisalabad Electric Supply Company Promotes 18 Junior Engineers to Senior Positions

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JS Securities Limited – JS Market Wrap (September 09, 2021)

September 9, 2021

Karachi, September 09, 2021 (PPI-OT): View from the desk

After a three day sell off, the market finally rebounded to close higher as the KSE-100 index closed +228 points at 46,625. GGL (-7.1%), TELE (-0.6%), WTL (-0.3%), TPL (-4.9%) and TPLP (3.0%) remained volume leaders to total traded volume of 396mn shares. Cement sector witnessed mixed sentiment where CHCC (-1.5%) and LUCK (-2.0%) closed in negative region whereas PIOC (1.0%) remained in green zone. On the other hand UBL (1.4%), FABL (7.5%) and MEBL (2.5%) from banking sector remained positive. Going forward, we recommend investors to remain cautious and wait for significant dips for further buying.