Investors are likely to remain cautious amid ongoing Russian-Ukraine conflict, as Pakistan would struggle to contain the damages to the economy due to higher international oil prices, where Brent is trading at US$116.31/bbl.

On the political front, opposition alliance is gearing up momentum to bring the no confidence motion against the ruling PTI government.

Moreover, cement sector to remain under pressure over surge in international coal prices with Richards Bay trading at US$427.50/ton.

We would advise investors to remain cautious and advise taking position in E&Ps including POL, PPL and OGDC and accumulate on dips in MEBL, UBL, EFERT, ENGRO, ILP, LUCK, KAPCO and SYS.

Courtesy – IMS Research