Elections: Market Implications

February 2008 | Market Strategy

BMI View: Although markets responded positively following the relatively peaceful elections this week, the potential for some downside remains as opposition parties commence negotiations to form a coalition government. Going forward, we highlight a potential disparity between the fortunes of the rupee and Karachi Stock Exchange (KSE) index; the former will likely resume depreciating due to Pakistan's weak economic fundamentals, whereas the latter could continue to post record highs.

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