JS Securities Limited - JS Market Wrap.

Karachi -- May 31, 2021 (PPI-OT)

View from the desk

Up and running again as the market continued its positive momentum making an intraday high of 47,979 to close at 47,896 level (up 770 points). Market volume once again crossed the one billion mark as the aggregate was recorded at 1.4bn shares where WTL (22.3%), BYCO (4.6%), SILK (3.8%), HUMNL (2.9%) and GGL (3.2%) were the volume leaders. On the news front, the Monetary Policy Committee (MPC) in its meeting on Friday decided to maintain the policy rate at 7%. Moreover, as per news flows, the ministry of Finance is likely to pay the first instalment of Rs90 billion to 35 independent power producers (IPPs).

As a result, NCPL (7.5%), PKGP (5.8%), KAPCO (2.8%) and HUBC (1.4%) gained to close...