Karachi, December 13, 2021 (PPI-OT): View from the desk

Market sentiment continued to remain bearish due to concerns over the economic outlook, further monetary tightening and geopolitical situation. The market made an intraday high of 43,478, however, closed at the level of 42,876, losing 519 points. Market volume stood at 150mn shares with WTL (-9.6%), BYCO (-0.5%), FATIMA (-0.7%), TRG (-6.9%) and HASCOL (-5.2%) being the highest contributors. Going forward, we expect range-bound activity to continue, investors are hence recommended to avail any downside as an opportunity to buy in the Banking and E and P sectors.