KSE-100 opens bullish today

KARACHI: The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 219.20 points, or 0.40 per cent, in the first hour of trading on Tuesday.

The local bourse closed in the green zone on Monday, as investors’ sentiment eased after the State Bank of Pakistan (SBP) cued short-term relaxation over interest rates.

Read more: Stock market likely to move both ways next week

The investors’ confidence boosted from last week’s Open Market Operation (OMO) injection, creating stability in the market to close on a positive note.

Analysts said that the local market in today’s opening continued with the positive trend of the last day, along with a slump in international oil prices to reach near $70 per barrel, reflecting the comfort in commodities prices; thus, supporting the bourse.

Going forward, the market is expected to move both ways, as the planned mini-budget is yet to be announced in the last week of the ongoing month, they added.