Karachi, October 12, 2022 (PPI-OT): View from the desk

Market sentiment continued to remain bearish due to concerns over the economic outlook and geopolitical situation. KSE-100 index closed at the 42,007 level, losing 148 points DoD. Traded volume stood at 239mn shares where KEL (3.4%), WTL (-3.2%), TELE (3.2%), PRL (-2.2% and CNERGY (-2.9%) were the highest contributors. Going forward, we expect range bound activity to continue and recommend investors to avail any downside as an opportunity to buy in the Banking and E and P sectors.