According to a report of Arif Habib Ltd Sales today’s bloodbath in the Pakistan Stock Exchange (PSX), when KSE100 lost 2371.64 points (3.77%) in a single day, the research house asked investors not to panic.

·        Sharp fall for Pakistan with the KSE-100 (-3.64%) to take the drawdown from the peak to -7%.

·        Near-term support @ 64k gave way as leverage traders were liquidated.

·        One-sided action with A/D coming in at 4:94

·        Downside leaders were MCB PA (-6.47%), OGDC PA (-5.29%), and DAWH PA (-7.5%).

·        Index gainers were PSEL PA (+4.13%), MEBL PA (+0.41%) and PMPL PA (+1.54%).

·        No need to panic; corrections after huge moves are healthy for the market, and new highs should be anticipated once support forms.

·        Weekly support comes in at the 60-62k zone.