Equities: Outlook For Q409

BMI View: Riding a wave of renewed foreign investor appetite and boosted by improved macroeconomic/political stability, Pakistan's Karachi Stock Exchange (KSE) 100 Index has crossed the 9,000 mark for the first time this year. While we believe that stocks still remain relatively cheap, we caution that the index may take a breather until the Eid holidays pass and further monetary stimuli comes online.

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