Karachi, March 10, 2022 (PPI-OT): View from the desk

PSX finally saw some daylight today; the KSE100 index closed at 43,854, posting a gain of 811 points DoD. Total traded volume was up by 48% DoD to 272mn shares where PAELR3 (-20.8%), TPLP (+1.0%), WTL (-0.6%), FLYNGR1 (-7.5%) and GGL (+1.6%) were volume leaders. Interest was witnessed in the cement sector stocks specially PIOC (+7.5%), DGKC (+7.5%), and LUCK (+6.8%) on back of price increases announced during the week. Going forward, we expect range bound activity to continue over concerns on the economy and the geopolitical situation. We recommend investors to avail any downside as an opportunity to buy in the Banking, Cement and E and P sectors.