Karachi, July 14, 2022 (PPI-OT): View from the desk

Market opened on a positive note on back of announcement by IMF regarding the Staff Level Agreement with Pakistan. Index closed at 42,349, gaining 486 points DoD. Traded volume stood at 228mn shares where KEL (5.5%), TPLP (-0.1%), SSGC (4.7%), UNITY (2.1%) and SNGP (-0.5%) were the major contributors. Going forward, investors are recommended to stay cautious and adopt a buy-on-dips strategy.