Karachi, August 26, 2021 (PPI-OT): View from the desk

Due to rollover pressure, the benchmark index took a battering today and shed 273 points to close at 47,363. Major contribution to total volume of 361mn shares came in from HASCOL (+6.6%), GGL (-7.4%), KOSM (+5.9%), TPLP (+6.4) and WTL (-1.5%). Fundamentally, the market is trading at attractive valuations and a positive trigger is required to resume the upward trend. With a view that the corrective phase is almost over, we advise investors to build exposures across the board.