Karachi, June 21, 2022 (PPI-OT): View from the desk

PSX finally saw some daylight today on the expectation of resumption in IMF negotiations. Bulls pulled the KSE100 to an intraday high of 42,569 level, eventually leading the market to close at 42,526, up 749 points DoD. Traded volume stood at 301mn shares where TPLP (7.5%), PRL (6.6%), CNERGY (6.6%), HUMNL (3.1%) and UNITY (5.2%) were the highest contributors. Going forward, we recommend investors to avail any downside as an opportunity to buy in the Banking, Tech, and fertilizer sectors.