Karachi, April 19, 2022 (PPI-OT): View from the desk

KSE-100 witnessed another volatile session where after making an intraday high of 46,746, the index slid and closed at 46,333, down 206 points DoD. Total traded volume stood at 228mn shares where CNERGY (-5.4%), GGL (-6.7%), WTL (-2.7%), TELE (-0.6%) and LOTCHEM (2.3%) were the highest contributors. Selling pressure was seen mainly in cement, technology and banking sectors. Rupee depreciation coupled with uncertainty regarding the International Monetary Fund program, dented the investors’ sentiments. Going forward, we recommend investors to avail any downside as a buying opportunity.