Karachi, October 11, 2022 (PPI-OT): View from the desk

KSE-100 started the day on a lackluster note, where after initially trading in the green zone, the index got dragged down into the red zone primarily driven by TRG’s lower lock. MPS announcement of status quo by SBP kept investors sidelined. Total traded volume stood at 305mn shares with WTL (-4.3%), CNERGY (3.6%), PRL (4.4%), PAEL (-2.3%) and GGL (2.7%) as volume leaders. Moving forward, we expect the market to continue a positive trajectory on account of PIB Auction where expectation of further reductions in cut off will lead the market. Hence, we recommend investors to avail any downside as an opportunity to buy in Banks, Cement and Steel sectors.