Week ahead: PSX seen on firm footing amid inflows hopes

KARACHI: Pakistan Stock Exchange (PSX) is largely seen on firm footing next week drawing strength from the Financial Action Task Force (FATF) victory amid hopes that Asian Development Bank (ADB) will release $1.5 billion shortly; however, political risks remain a threat.
The benchmark KSE-100 index, the main gauge of the country’s capital market, gained 265 points or 0.62% week-on-week, which analysts attributed to a 73% year-on-year and 53% month-on-month fall in current account deficit in September amid bets it was Pakistan’s last week on FATF’s list of countries under increased monitoring for money-laundering and terror-financing.
The market got off to a grim start in the outgoing week that was mostly marred by political bad weather as the government remained pitted against the opposition with PTI threatening the ruling collation with a tougher-than-the-last ‘long march’ which remains unscheduled so far.-PNP