Karachi, March 08, 2022 (PPI-OT): View from the desk

The downtrend continued today due to political uncertainty and soaring commodity prices triggering concerns of a major inflationary shock to the economy. The index closed at 42,878, losing 389 points DoD. Traded volume stood at 226mn shares where TPL (-8.7%), UNITY (-5.9%), GGL (-5.2%), TRG (2.6%) and TPLP (-7.5%) were the major contributors to volume. Going forward, in light of the rising political uncertainty and risk of external shocks to the economy we recommend investors adopt a buy on dips strategy in the Banking and Oil and Gas sectors.