Karachi, July 19, 2022 (PPI-OT): View from the desk

Bourse remained under pressure throughout the day due to massive rupee depreciation and rising political uncertainty. Panic selling was witnessed across the board as benchmark KSE 100 closed at 40,389, losing 978 points DoD. Traded volume stood at 195mn shares where KEL (-1.0%), WTL (-8.1%), CNERGY (-3.1%), and UNITY (-5.8%) were the highest contributors. Going forward, we recommend investors to stay cautious and avail any downside as an opportunity to buy in the Fertilizer and Banking sectors.