Karachi, September 15, 2021 (PPI-OT): View from the desk

The KSE100 succumbed to pressure and lost 175 points today as it closed at a level of 46,717. Total traded volume slid by 31% DoD to 332mn shares. TPL (+7.3%), TELE (-4.9%), BYCO (-1.2%), WTL (-2.5%) and TPLP (+4.8%) were volume leaders today. The US dollar closed today at Rs169.12 against the PKR. Moreover, the head of the US Delegation to the Financial Action Task Force (FATF) arrived in Pakistan on a three-day visit to discuss the country’s action plan agreed with the forum. Refineries continued the downward trend where BYCO (-1.2%), PRL (-1.3%) and ATRL (-2.4%) closed negative. Hammering was also witnessed in the Cement sector where PIOC (-4.1%), KOHC (-2.4%), MLCF (-4.6%), CHCC (-2.9) and DGKC (-3.0%) lost value to close in the negative region. Investors are recommended to stay cautious at current levels.