Karachi, October 28, 2022 (PPI-OT): View from the desk

Selling pressure continued taking the index to close at the level of 41,140, losing 463 points DoD. Traded volume stood at 178mn shares declining by 13% DoD. Major volume contributors today were WTL (-5.7%) KEL (-2.5%), CNERGY (-2.9%), FFL (-6.7%) and PRL (-4.1%). Going forward, we recommend investors to stay cautious and avail the current downside as an opportunity to buy blue-chip stocks.