Karachi, January 06, 2022 (PPI-OT): View from the desk

Market took a break today after a seven-day climb and managed to close at 45,082, losing 326 points DoD. Important news that dampened investor confidence were regarding a rise in international coal prices and widening Trade deficit. Major volume leaders today were WTL (-4.2%), TRG (-7.5%), UNITYR3 (-0.9%), TELE (-3.9%) and YOUW (+14.2%). Shares which dragged the index down were TRG, LUCK, PSO, PPL and OGDC. Going forward, we advise a Buy on dips strategy in the Technology, Oil and Gas Exploration, Banking and Cyclical Sector stocks.