Karachi, June 15, 2022 (PPI-OT): View from the desk

The local market recovered for the day and closed at a level of 41,439 up 384 points DoD. TPLP (1.9%), BGL (-2.2%), PRL (0.5%), WRL (-0.7%) and SNGP (2.9%) majorly contributed to total traded volume of 142mn shares. On the news front, China has agreed to roll over $2.3 billion loan to Pakistan in the initial phase. Consequently, slight confidence was seen among investors as the index touched an intraday high level of 41,535. However, market is still expected to be seen range-bound and therefore investors are recommended to stay cautious.