Karachi, March 18, 2022 (PPI-OT): View from the desk

Downtrend continued today as benchmark index closed at 43,030, losing 777 points DoD due to uncertainty regarding the political situation. Profit-taking was witnessed across the board. Traded volumes stood at 180mn shares where WTL (-4.5%), GGL (-6.2%), KEL (-3.3%), TELE (-7.7%) and TRG (-6.0%) cumulatively contributed 25% to the total volumes. Going forward, we expect range-bound activity in the market and recommend investors to avail any downside as an opportunity to buy in the Banking and E and P sectors.