Karachi, September 10, 2021 (PPI-OT): View from the desk

Bulls reigned over Pakistan equities as the KSE100 gained 573 points during the day, eventually closing at a level of 47,198. A total of 427mn shares were traded today where ANL (-1.0%) MLCF (2.0%), TELE (2.1%), WTL (-0.6%) and TPL (-7.0%) were the volume leaders. ISL (1.1%), MUGHAL (0.7%), INIL (0.2%) and ASL (1.9%) from the Steel sector remained in limelight. Moreover, the Cement sector gained today where DGKC (2.6%), LUCK (3.6%), FCCL (0.4%), CHCC (4.7%), JVDC (7.5%) and MLCF (2.0%) all gained to close higher.

As per news, Chairman FBR presented a summary to strengthen Inland Revenue Enforcement Network (IREN) to combat tax evasion and leakages of duties payable on specified goods through enforcement of Track and Trace system. The Refinery sector remained buoyant where ATRL (3.3%), NRL (3.0%), PRL (2.2%) and BYCO (1.9%) closed in green zone. Going forward, we recommend investors to remain cautious and wait for significant dips for further buying.