Karachi, September 17, 2021 (PPI-OT): View from the desk
KSE100 witnessed a volatile session today with a high and low of +261 points and -365 points, respectively to close at the level of 46,636. Major contribution to the traded volume of 386mn shares was from WTL (-2.1%), TRG (-1.5%), BYCO (1.6%), BOP (1.8%) and TELE (-3.1%). Selling pressure was seen in the market due to rebalancing of FTSE Index. MTL (2.3%) from the Auto sector declared its FY21 result, where the company posted an EPS of Rs117.13 along with a cash dividend of Rs50 per share and a bonus of 20%.
From the steel sector MUGHAL declared its FY21 result posting an EPS of Rs12.85 and a bonus of 15%. Selling pressure was witnessed in the Technology sector where AVN (-3.5%), TELE (-3.1%), NETSOL (-2.8%), SYS (-1.8%) and TRG (-1.5%) lost value to close in the negative region. Going forward, we recommend investors to book profits and wait for further buying.