The KSE 100 Index, which has outperformed Asian peers with a 27% surge in dollar terms this year, is likely to further extend gains by 10% by year-end, according to brokerages Topline Securities Ltd. and Arif Habib Ltd.
The bull run in Pakistani stocks looks to have more legs as signs of improving economic conditions bolster the outlook for Asia’s best-performing market this year.
The case for more gains is strengthening on the back of one of the cheapest valuations in Asia and the budget laying the groundwork to secure a new loan from the International Monetary Fund, according to strategists. A stable rupee and easing inflation boosting the prospect for rate cuts are other positives.
