Key Points
Investors expect an imminent cut in the central bank's policy interest rate, currently set at a record high 22%...
Despite Pakistan's political and economic difficulties, the index has gained more than 48% this year, after the International Monetary Fund (IMF) approved a $3 billion loan programme in July to avert a sovereign debt default...
Some analysts believe the market is welcoming a successful staff level agreement for the second tranche of funds under the current IMF Standby Arrangement, along with a expected disbursement of the funds in December and other foreign exchange inflow from multilateral institutions...
"Despite the fact that the market is trading at an all-time high, the valuation of the market is still attractive as KSE100 index is currently trading at price-to-earnings multiple of 4.5 times as compared to the last 5-years average PE multiple of 6 times," said..
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