Karachi, April 20, 2022 (PPI-OT): View from the desk

KSE 100 index, after touching an intraday high of 46,586, lost ground to the selling pressure today and managed to close at 45,943, down 390 points DoD. Total traded volume stood at 235mn shares where CNERGY (2.8%), TPLP (3.1%), GGL (-0.7%), MLCF (-6.1%) and TELE (0.9%) were the highest contributors. PKR/USD lost 0.8% during the day which also dampened market sentiments. Going forward, we recommend investors to buy on dips as market approaches the 45,500 level especially in Refineries, Banks and Oil and Gas sectors.