Karachi, August 10, 2021 (PPI-OT): View from the desk

The KSE100 dropped to a low of 46,928 points and finally closed flat at 47,135 level (+12 points). Major volume contribution was mainly from WTL (2.7%), TELE (6.0%), ANL (2.4%), TPL (7.5%) and GGL (7.5%). Going forward, the market can be expected to further correct in coming days amid lack of triggers and buyer interest. Investors are advised to exercise caution and adopt a buy on dips strategy in Steel, Technology and Cement sectors.