Karachi, September 13, 2021 (PPI-OT): View from the desk

The KSE-100 index posted a gain of 72 points to close at the level of 47,270. Volumes stood at 396mn shares as compared to 427mn shares traded previously. The Banking sector witnessed better participation by investors while Cement and Technology sectors remained under selling pressure throughout the day. Today’s volume leaders were BYCO (0.1%), TPLP (5.0%), TELE (1.8%), TPL (1.2%) and WTL (-0.3%). On the Economic front, negotiations with IMF for the sixth tranche are to start by the current month’s end. Going forward, we recommend investors adopt a buy-on-dip strategy with Banks, E and P, and Textile sectors as top picks.