Karachi, August 16, 2021 (PPI-OT): View from the desk

Regional geopolitics weighed in on Pakistan equities after the President of Afghanistan flew out of the country, paving way for Taliban to regain power 20 years after a US-led military invasion ousted them. Partially recovering from an intraday low of 46,672 (-498 points), the KSE100 closed today at 46,913 level, down 257 points. WTL (+0.3%), TELE (+1.1%), TRG (-0.5%), ANL (-5.3%) and TREET (-0.8%) were the largest contributors to the total traded volume of 252 million shares. Further weakness in the market can be expected in the coming days and investors are advised to buy on dips across the board keeping a medium term outlook in mind.