PSX awaits the results of the IMF talks

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The market opens again after the long Eid break. We believe the 125bps interest rate hike just prior to the break is largely already in the price.

Activity could remain thin and range-bound as the market awaits the results of the IMF talks. By-elections in Punjab on the 17th are also a key checkpoint as they will give a sense of the popularity of the PML-N led government. Focus on EFERT, MEBL, LUCK, OGDC, HUBC in the near-term.

Courtesy – IMS Research

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