Karachi, August 04, 2022 (PPI-OT): View from the desk

The market witnessed a bull run for a 2nd consecutive day post clarity regarding the IMF program and strengthening of PKR against US$. Investor participation increased across the board. The market closed 356 points up at the 41,425 level after touching a high of 41,630 points. Traded volume stood at 275mn shares with WTL (3.4%), TPLP (-1.0%), PAEL (4.4%), PRL (-1.1%) and UNITY (0.5%) witnessing most of the activity. Going forward, we recommend investors to adopt a ‘Buy-on-dips’ strategy for Cement, Banks, and E and P sectors.