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

The market, after touching an intraday high of 46,970 points, eventually lost ground to profit taking and closed at 46,539, losing 62 points compared to the previous session. Total traded volume declined to 255mn shares where GTECH (-4.1%), CNERGY (-3.4%), WTL (-3.6%), OGDC (7.3%) and GGL (-4.8%) were the volume leaders. Main index draggers today were EPCL, ENGRO, UBL, HMB and LUCK. OGDC and PPL remained in limelight today on rumours of a hefty dividend expectation. Going forward, we recommend investors to wait for major dips for fresh buying positions.