Karachi, September 08, 2022 (PPI-OT): View from the desk

KSE-100 index witnessed another range-bound session to close in at the 41,825 level. Investor participation remained low where volumes during the day stood at 109mn shares versus 93mn shares traded previously. Top contributors were MLCF (3.2%), LOTCHEM (4.6%), HASCOL (0.4%), PIOC (4.7%) and FFL (1.2%). Going forward, any upside will face resistance at the 42,000 level with more range-bound sessions likely. We recommend Investors stay cautious at current levels and wait for dips.