Karachi, December 20, 2021 (PPI-OT): View from the desk

Bulls made a comeback today as KSE-100 made an intraday high of 44,485 points. The benchmark index closed at the 44,340 level, gaining 439 points DoD. Traded volume stood at 238mn shares where TRG (7.5%), WTL (1.9%), BYCO (-3.4%), SILK (18.3%) and TELE (3.8%) cumulatively contributed 34% to the total volumes. TRG hit its upper circuit today on the announcement of TRGI forming an SPV to purchase shares of TRG from PSX overtime to provide liquidity to the shareholders of TRG. Going forward, we expect range-bound activity in the coming sessions and recommend investors to avail any downside as an opportunity to buy in the Cement and Steel sectors.