Karachi, June 17, 2021 (PPI-OT): View from the desk

The benchmark KSE100 index shed 323 points to settle at 48,157 points. A total of 1.11bn shares exchanged hands with WTL (4.4%), SILK (14.6%), KEL (-2.5%), BYCO (-3.9%) and HUMNL (-1.6%) leading the volumes. The uncertainty that gripped the market was visible in the Cement, Refinery and Steel sectors where FLYNG (-4.6), POWER (-2.1%), DGKC (-1.8%), PIOC (-1.2%), BYCO (-3.9%), ATRL (-4.4%), NRL (-3.1%), ASTL (-4.6%) and ASL (-2.5%) closed in negative region. Going forward as the corrective trend continues, we recommend investors to avail opportunity to buy in steel, cements and export oriented sectors.