Karachi, November 17, 2021 (PPI-OT): View from the desk

Market negatively reacted in the opening of today’s session on SBP’s preponement of MPS announcement on Nov19’21 from Nov26’21. Expectation of hike in interest rate sent cyclical stocks in a negative direction but it is positive for the Banking sector. Index failed to sustain throughout the whole session and KSE100 Index closed down by 348 points at 46,194. Investors have a wait and watch stance on the outcome of upcoming MPS announcement and the coming week will be the roll-over week; hence, a cautious approach is advised.