Karachi, August 04, 2021 (PPI-OT): View from the desk

The KSE100 Index increased by a high of +222 points, however could not sustain the bullish momentum due to selling pressure witnessed in today’s trading session. Hence, after approaching the psychological barrier of 48,000, investors booked gains, leading to the Index closing at 47,790 level (+32pt). Major contribution to today’s total volume of 533mn shares came from the third tier stocks, mainly TELE (4.8%), HASCOL (3.7%), WTL (0.3%), TPL (7.5%) and PACE (5.1%). As for the road map ahead, we recommend investors to book profits on the higher side until market crosses the level of 48,200 on a closing basis.