Karachi, November 02, 2021 (PPI-OT): View from the desk

KSE100 index continued its positive trend today with intra-day high of 47,315 (+340 points) and settled at 47,113 (+138 points). Market sustained its positive trend on account of Pak Rupee strengthening against the US Dollar, expected resumption of IMF deal, and improvement in investor sentiment. Index level managed to hold the gaining momentum throughout the day but profit-taking was witnessed in the Cement sector during late trading hours. Total traded volume stood at 305mn shares with BYCO (0.4%), TELE (-0.1%), FNEL (2.4%), HUMNL (-1.5%), and WTL (-1.6%) being the highest contributors to the total volume. Going forward, we recommend investors to sell-on-strength and book profits from the recent recovery.