A piece of advice about PSX.

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·        Pakistan bucked the regional trend across the Asia-Pacific where markets saw sharp losses after minutes from the U.S. Fed revealed that the central bank was split on its decision to pause its rate hikes in June.

·        The underperforming KSE-30 was the top index performer (+1.75%) and is the only benchmark below its Jan ’23 high (16k).

·        As market breadth improves big money should see rotation from underwater small caps positions into the elite names.

·        Pharma names were the strongest today, followed by EnP.

·        Notable volume spike in ENGRO PA (+3.3%) today, which saw its highest volume since April and is shaping up to target PKR 300 in the near term

·        Use this strength to sell smaller cap holdings and rotate into index heavys on weakness.

Courtesy – AHL


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