Karachi, September 20, 2021 (PPI-OT): View from the desk

After remaining bearish for the better part of the day, the KSE100 ended the session in with loss of 108 points at 46,528 level. The market traded between a high and a low of +55 points (46,691) and low of -421 (46,215) points. Major contributors to total volume of 195mn shares were TELE (-0.2%), WTL (-1.8%), BYCO (-1.5%), TRG (+0.5%) and TPLP (+2.3%). NML announced its financial result for FY21, reporting consolidated earnings of Rs28.15 per share along with a cash payout of Rs4 per share. AGHA from the steel sector announced its FY21 result posting an EPS of Rs3.80 along with a bonus issue of 5%.

Moreover TGL also announced its financial result wherein the company reported earnings of Rs15.31 for FY21 along with a dividend of Rs12 per share. The cement sector recovered today where PIOC (+1.7%), CHCC (+0.5%), MLCF (+0.1%) and LUCK (+0.7%) closed in the green zone. Going forward, we recommend investors to remain cautious with 25bps increase announced in the Policy Rate after market hours.