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

The KSE-100 Index stayed sideways, making a low and high of -215 and +115 points respectively. Total traded volume for the day stood at 1.22bn shares where KEL (10.6%), WTL (-6.1%), BYCO (1.5%), HASCOL (1.6%) and POWER (-0.8%). K-Electric led the volume board as media chatter suggested that the National Transmission and Dispatch Company (NTDC) recently severed additional supply of electricity to Karachi Electric (KE) due to non-payment.

Southern region cement manufacturers have announced to increase cement prices by Rs20 per bag and consequently, cement sector gained for the day where FLYNG (0.8%), MLCF (0.6%) and DGKC (1.3%) were the major contributors. From the refinery sector ATRL (-5.1%), NRL (-3.6%) and PRL (-2.7%) lost value to close in the red region. Moving forward, it is recommended to investors to avail dips in construction and export oriented sectors.