PSX likely to continue with range-bound sessions

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Karachi

The Pakistan Stock Exchange (PSX) is likely to continue with range-bound sessions this week due to lack of any positive trigger, though fog is clear now on the Financial Action Task Force (FATF) as well as the International Monetary Fund (IMF) fronts.

Expected corporate profitability may be a factor that can create hawkish sentiment in the bourse, as the fourth quarter of the current fiscal year is ending this week; however, suspension of gas supply to non-export industry is not a small factor to be ruled out.

Although decreasing coronavirus cases is a positive thing, yet a warning from the National Command and Operation Centre (NCOC) head Asad Umar that a fourth wave of Covid-19 may hit the country in coming July may discourage investors to take long-term investment risks.—TLTP

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