Karachi, December 23, 2021 (PPI-OT): View from the desk

Rising concerns over the IMF program and mini-budget resulted in range-bound activity today. Market closed at the level of 44,267, up by 92 points. Total traded volume stood at 240mn shares where HUMNL (+10.6%), TRG (+5.8%), UNITY (+2.0%), SMBL (+8.6%) and WTL (+0.5%) accounted for 47% of the aggregate volume. Going forward, we expect market to remain sideways in the coming sessions and recommend investors to avail any downside as an opportunity to buy in the Cement and Textile sectors.