Karachi, July 18, 2022 (PPI-OT): View from the desk

Market remained under pressure throughout the day due to rising political uncertainty and macroeconomic worries. Selling was witnessed across the board and benchmark KSE100 closed at 41,367, losing 708 points compared to the previous trading session. Traded volume stood at 151mn shares where WTL (-4.9%), KEL (-1.0%), TPLP (-4.2%), PRL (-4.5%) and CNERGY (-2.4%) were the highest contributors. Going forward, we recommend investors to avail any downside as an opportunity to buy in the Fertilizer and Banking sectors.