Karachi, September 16, 2021 (PPI-OT): View from the desk

Pakistan equities finally saw some daylight after two consecutive negative closings; the KSE100 closed today at a level of 46,920, posting a gain of 204 points during the session. Total traded volume jumped by 22% DoD to 405mn shares. WTL (6.4%), TRG (5.5%), UNITY (5.4%), TELE (-1.8%) and TPL (5.4%) were volume leaders today. From the E and P sector PPL (1.9%), OGDC (1.8%) and POL (0.2%) managed to close in the green region. Investors’ interest was witnessed in the textile sector where GATM (7.2%), ILP (3.0%), NML (2.2%) and NCL (0.9%) closed higher than their previous day close.

CPHL (1.2%) from the Pharma sector released a material information stating that an agreement has been signed between CPHL and deputy governor Namangan Uzbekistan to establish a wholly-owned subsidiary of the company in Uzbekistan. The company will produce syrups, liquids, psychotropic products etc. Going forward, we recommend investors to book profits and wait for further buying.