Daily Times
July 5, 2021
The Pakistan Stock Exchange (PSX) is likely to remain volatile this week due to the results season and expectations of growth in various sectors may keep the market in the green zone.
According to analysts, having witnessed a flattish last week, the stocks are expected to perform well in the fiscal year 2021-22 on account of robust earnings growth forecast for cement, steel and allied sectors, amid strong cyclical demand driven by the historic high Public Sector Development Plan (PSDP) allocations and the focus on Naya Pakistan Housing Scheme.
An analyst at Arif Habib Limited said: “The stocks should perform on the expectation of an auto and refinery policies, downwards sticky oil prices supporting the exploration and production (E&P) sector, and commencement of the monetary tightening, which should once again garner interest in commercial banks.”