Karachi, May 09, 2022 (PPI-OT): View from the desk

A bloodbath was witnessed at the local bourse today. KSE100 index made an intraday low of 1,608 points but eventually settled at 43,393, losing 1,448 points compared to the previous trading session. Volumes stood at 305mn shares where LOTCHEM (+2.2%), CNERGY (-9.0%), WTL (-6.5%), TELE (-7.3%) and GGL (-7.5%) were the top volume contributors. Going forward, market sentiment appears weak and a cautious approach is recommended.