Karachi, April 27, 2022 (PPI-OT): View from the desk

Correction continued today as market closed at 45,533, down 284 points DoD. Total traded volume stood at 224mn shares where CNERGY (9.0%), PRL (6.1%), GTECH (-0.3%), PAEL (0.2%) and TELE (-3.0%) were volume leaders. Investors booked gains in FFC after its result announcement where it declared a dividend of Rs3.7/sh and earning of Rs4.9/sh for the quarter. Major index draggers today were FFC, EFERT, ENGRO, EPCL and UBL. Going forward, we recommend investors to avail the ongoing correction as a buying opportunity with focus on Value stocks.