Karachi, July 13, 2022 (PPI-OT): View from the desk

Market opened on a dull note but later gained on the news of a possible agreement with IMF. Index closed at 41,863, gaining 519 points compared to the previous session. Traded volume stood at 165mn shares where TPLP (4.8%), SNGP (6.4%), OGDC (3.9%), PRL (4.6%) and SPWL (2.2%) were the major contributors. Going forward, investor sentiment will largely be driven by positive news on the IMF front.