PSX likely to remain rangebound this week

8
Karachi

The Pakistan Stock Exchange (PSX) is likely to remain range-bound in the coming week starting today (Monday) due to the MSCI review, Interna-tional Monetary Fund (IMF) review, whopping current account deficit in August, Covid-19 con-cerns, and continuous depreciation of Pakistani rupee against the US dollar.

MSCI Inc, the world’s largest index provider, on June 25 proposed reclassifying the MSCI Pakistan Index from emerging to frontier markets as the Pakistani equity market has not met all necessary requirements.

The index compiler began consulta-tion with market participants on August 31 and will announce the decision on September 7 (Tuesday). —

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