Karachi, September 29, 2021 (PPI-OT): View from the desk

The KSE100 lost 908 points today as it closed the session at 44,367 points. Panic selling continued across the board on the back of geopolitical and economic concerns. However, the market sustained the 44,000 level as it rebounded from the intraday low of 43,975 points. Traded volume stood at 469mn shares with TELE (-0.3%), WTL (-6.9%), DCR (-1.5%), BYCO (-1.4%) and ANL (-3.4%) being the volume leaders today. Going forward, we recommend investors to adopt a buy on dips strategy in the Banking, Steel and Textile sectors.