- Status quo in monetary policy for the year – and that’s CY not FY!
- A range-bound Rupee vs. the Greenback – between 160 & 165.
- We once again invite you to unshackle yourself from the one-year convention and look beyond, at a view of a 60,000 index by delimiting the investment horizon.
- The widely debated disconnect between the stock market and real sector will become more pronounced, before it fades when economic growth eventually catches up.
- Even if second and third-tier sector performances might be too tough a nut to crack for main board stocks, the latter can reasonably be expected to outperform its prior runs in 2018, 2019 and 2020.
- While LUCK and ENGRO are must-have conglomerates in a bullish market, MLCF, PIOC, CHCC and ASTL are currently the best cyclical bets. In addition, there are other worthwhile considerations that serve as food for thought.
- All things said it’s critical to pause and reflect. 2020 serves as a strong reminder that it is essential to be cognizant of the inherent risks before even beginning to contemplate potential returns.
Pakistan Equity Market Outlook – 2021 as we see it
– JS Research