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

Bulls pulled the KSE100 to an intraday high of 47,737 points where some profit taking was seen, eventually leading the market to close at 47,628 level, up 137 points. Traded volume stood at 506mn shares where WTL (-2.0%), KEL (3.8%), TPL (2.9%), PIBTL (0%) and TPLP (7.1%) were the volume leaders today. Going forward, dips in the market cannot be ruled out in light of the rising Covid cases and subsequent restrictions. We recommend investors to adopt a buy on dips strategy in Cement, Banks, and E and P sectors.