KSE-100 opens bullish today

KARACHI: The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 215.28 points, or 0.49 per cent, in the first hour of trading on Thursday.

The Pakistan equity market witnessed a lacklustre session on Wednesday in the absence of any positive trigger, while investors’ interest was low, as participants were waiting for the Pakistan Investment Bonds (PIBs) auction result.

Additionally, the government delayed the mini-budget announcement, which dragged down the sentiments of the bourse.

Read more: Bears remain active at Pakistan bourse; KSE-100 Index shed 2.1 points

Analysts said that the signing of loans and grant agreements amounting to $1.54 billion, between the government and the Asian Development Bank (ADB) on Wednesday is a positive sign for the investors as the aim of these agreements are said to improve energy, transport, irrigation, and urban sectors.

The recovery in the global oil prices despite the concerns regarding the new variant of the Covid-19, contributed to the bullish opening of the local bourse.