‘Dirt Cheap’ Pakistan Stocks Seen Rallying 15%, BMA Says

‘Pakistan’s key stock index, Asia’s second-best performer this year,will probably climb 15 percent by December  as energy and housingdemandboosts oil andcement producers, according to BMA Asset Management Co. Ltd.

The Karachi Stock Exchange 100 Index may rally as high as 17,000 this year, Farrukh Hussain, chief investment  officer of Karachi-based BMA Asset, Pakistan’s second-biggest private money manager, said in a May 7  interview. That would be the highest level on record. The gauge closed at 14,613.59 yesterday. BMA’s Pakistan  Opportunities Fund, the nation’s only offshore, dollar- based fund, returned 23 percent this year, beating 99  percent of its peers, according to data compiled by Bloomberg.

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Source: Business Recorder