Karachi, December 22, 2021 (PPI-OT): View from the desk

Range bound activity continued today due to a lack of positive triggers. Market closed flat at the level of 44,175. Total traded volume stood at 152mn shares where GGL (-1.6%), UNITY (-2.7%), TRG (1.1%), WTL (-0.9%) and CNERGY (-0.9%) accounted for 30% of the aggregate volume. Going forward, we expect range-bound activity to continue and any clarity on the mini-budget is likely to drive the market from here onward. We recommend investors to avail any downside as an opportunity to buy in the Tech, Cement, and Textile sectors.