Karachi, June 17, 2022 (PPI-OT): View from the desk

Bulls took over the local bourse today as the index gained 411 points to close at 42,141. Total traded volume stood at 283mn shares compared to 162mn shares traded yesterday where CNERGY (4.5%), HUMNL (4.5%), PRL (2.9%), TPLP (2.0%) and UNITY (2.2%) were the major contributors. Investor confidence mainly improved on the news of expected removal of Pakistan from the FATF grey list. Going forward, we recommend investors to remain cautious and avail the current upside as a selling opportunity.