KSE-100 opens bullish today

KARACHI: The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 217.07 points, or 0.48 per cent, in the first hour of trading on Tuesday.

The local equity market on Monday closed on a bullish note as international oil prices fell 10 per cent amid new Covid-19 variant, while the Federal Cabinet approved $4.2 billion worth of loan agreements with Saudi Arabia.

Analysts said that the current positive trend in the local bourse is mainly attributed to the news related to the signing of the $3 billion deposit agreement by the State Bank of Pakistan and the Saudi Fund for Development as investors are expecting that it will ease the pressure on Pakistan’s foreign currency reserves.

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