Karachi
The Pakistan Stock Exchange (PSX) is likely to snap its two-week losing streak this week despite negative sentiment, as there is no major unprece-dented problem on the economic side and compa-nies’ fundamentals are strong.
The imminent pressure that the market will face this week is proposed 37 percent hike in gas tariff, expected increase in electricity price, surging crude prices, and inflationary figures.
However, weekly inflationary figures showed a slight improvement last week and possible resumption of the Interna-tional Monetary Fund (IMF) programme next month could provide a breather.—TLTP