Karachi, October 05, 2021 (PPI-OT): View from the desk

KSE100 slid 378 points today as it closed the session at a level of 44,667. Top contributors to the total traded volume of 335mn shares were TELE (4.0%), ANL (-5.9%), GGL (4.3%), WTL (-3.4%), and BYCO (-2.0%). Major selling pressure was seen in the cement sector as coal prices continued to rise in the international market while cement dispatches fell by over 12% in September. Going forward, we recommend investors to remain cautious and wait for significant dips for further buying.