Karachi, November 24, 2021 (PPI-OT): View from the desk

KSE-100 index was dragged down 741 points in intraday move. Market took this reaction on the announcement of mini budget, removal of GST exemption and roll-over settlement while selling pressure persisted during the whole day. KSE-100 index closed 585 points down at 44,364. Total traded volume was 310mn shares. Cautious approach is advisable as market is likely to further face pressure in the upcoming sessions; an overhang of pre-conditions related to IMF program continues to dent the market sentiments.