Karachi, September 21, 2022 (PPI-OT): View from the desk

Market opened on a positive note but investors chose to book profits on the higher side. The index touched a high of 41,357 but soon profit taking dragged it down to the 40,872 level. The market eventually closed in the red zone at 40,965, losing 255 points DOD. Volumes stood at 170mn shares where KEL (-3.3%), TPLP (-2.7%), TRG (-0.5%), CNERGY (-2.6%) and WTL (-1.7%) were the volume leaders. Going forward, we recommend investors to adopt a buy-on-dips strategy in the Banking, E and P and Textile sectors.