Pakistan equities started the session with a vertical fall which continued till the end as the investors remained in panic selling mode amid sharp rise in coronavirus infections and fears of strict measures to curb the pandemic, as hinted by the Prime Minister. Mar-21 trade deficit widened by 118% to record at USD 3.2bn, which also fueled negative sentiments.
KSE-100 closed down by 752.7 points to 43,548.2 levels with 139mn volumes. Highest activity was recorded in TRG (-6.42%) with 24.6mn shares traded, DSL (+13.95%) with 24.4mn shares and SILK (+9.57%) with 20.0mn shares traded.
Going forward we expect the market to slide further and recommend a ‘Buy on dip’ strategy.