Pakistan stock market attractive on valuation, dividend yield: Chris Wood

The MSCI Pakistan Index, according to Wood's note, is trading on 3.7x forecast 2023 consensus earnings and a 2023 forecast dividend yield of 10.2 per cent

Despite the political turmoil and the economic headwinds that the country is facing, Pakistan's stock market appears attractive on account of attractive valuation and high dividend yield, said Christopher Wood, global head of equity strategy at Jefferies in his recent note to investors, GREED & fear.

“Unsurprisingly, given the current stressed macro environment, both politically and financially, the most attractive feature is low valuations and high dividend yields. Indeed, GREED & fear heard this week from Karachi-based fund managers that the market is at its cheapest level ever based on recorded data,” Wood said on Pakistan's stocks.

The MSCI