Karachi, December 29, 2021 (PPI-OT): View from the desk

Market was a rollercoaster ride today. Bourse touched a high and low level of 44,265 and 43,941, respectively. Significant interest was witnessed in the refinery sector stocks ATRL (7.3%), PRL (8.0%) and NRL (7.5%) on the back of discussion on new refining policy by Govt and refinery companies’ managements. The index closed at the level of 44,260, gaining 216 points DoD. Total traded volume stood at 271mn shares where CNERGY (9.2%), WTL (1.0%), KEL (4.9%), TRG (2.5%) and DSIL (5.1%) accounted for ~36% of the aggregate. Going forward, we expect range-bound activity to continue and recommend investors to avail any downside as an opportunity to buy in the Cement and Banking sectors.