Corporate profitability may keep PSX green next week

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Karachi

The Pakistan Stock Exchange (PSX) may remain green next week as financial results of most of the companies showed strong profitability.According to analysts, result season is always considered as positive for stock exchanges and the ongoing bull-run is likely to continue. Analysts at Arif Habib Limited said that in addition, improved liquidity in the market will also keep the index trajectory positive; however, a key event next month includes Financial Action Task Force (FATF) meeting to determine Pakistan’s status on the grey list, and due to this factor, some volatility may be observed. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2021) compared to Asia Pacific regional average of 16.7x and while offering DY of around 6.4 percent versus 2.7 percent offered by the region..—TLTP

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