Head of Research Ismail Iqbal Securities

Market looks range-bound in the short-term as investors' interest is not developing. However, outlook of the market is bullish in the long-term because 10-year PIB is 11.75 per cent currently and according to it market justified levels is 8,600 points. The market is coming down with low volumes, therefore, if it goes down further than market will be attractive. Investors should start gradual accumulation across the board especially in cement, fertiliser, major banks and side stocks of good manufacturing companies.