Dear Clients,
Pakistan Stock Market ended lower today amid lack of triggers & fear of possible lockdown due to deteriorating Covid 19 situation in the country. The benchmark KSE-100 index plunged from the moment trading began and kept trading in the red throughout the day. Rising uncertainty ahead of the long holiday season sparked panic selling by investors, which pushed the index lower.
KSE-100 closed lower by 186.15 points to 44,076.20 levels with 238mn shares traded. Highest activity was recorded in UNITY (+4.12%) with 36.4mn shares traded, TELE (-6.97%) with 25.4mn shares and GGL (-6.98%) with 23.1mn shares traded.
Going forward, there may be some near-term tension ahead of the long Eid holidays but we recommend investors to look past that. We feel any correction in the stock market in this week will be an opportunity to invest at lower levels.
KASB Research
