Karachi, August 17, 2022 (PPI-OT): View from the desk

KSE-100 index closed at 43,676, gaining 240 points DoD. Volumes stood at 608mn shares as compared to 518mn shares traded previously. Technology and Cement sectors witnessed good participation by investors while E and P sector witnessed profit taking during the day. KEL (13%), WTL (-0.8%), HASCOL (-3.3%), PIAA (24%) and FLYNG (6.9%) were the volume leaders today. Going forward, the upcoming monetary policy and IMF’s board meeting will remain key driving forces for the market. We recommend investors to adopt a buy-on-dips strategy in Tech, E and P and Cement sectors.