Karachi, December 03, 2021 (PPI-OT): View from the desk

Today’s trading session was a rollercoaster ride, where the index made an intraday high and low of 43,590 and 42,753, respectively, to close at the level of 43,233 points. Major pressure was witnessed in the cement sector on the back of expected interest rate hike where PIOC (-6.7%), MLCF (-6.5%), DGKC (-5.7%), KOHC (-5.1%), CHCC (-5.1%) and LUCK (-3.9%) were the major losers. Total volume traded for the day recorded at 288mn shares where top contributors were WTL (2.0%), TPLP (-6.0%), BYCO (-2.7%), UNITY (-5.9%) and TRG (-4.7%). Going forward, we recommend investors to adopt a buy-on-dips strategy primarily in the Banking and Fertilizer sectors.