Karachi, October 31, 2022 (PPI-OT): View from the desk

The ongoing uncertain political situation kept investors away from active market participation. KSE-100 index closed at 41,265, gaining 124 points compared to the previous session. Market volume stood at 97mn shares where WTL (0.8%), GTECH (2.9%), SILK (-1.0%), KEL (-0.4%) and CNERGY (-0.4%) were the major contributors. We expect range-bound activity to continue and therefore recommend investors to wait for political clarity before availing this downside as an opportunity to build fresh positions.