KSE-100 opens bearish today

KSE-100 opens bearish today

KSE-100 opens bearish today

Stocks remain range-bound over political turmoil

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KARACHI: The Pakistan stocks opened on a bearish note as the KSE-100 index witnessed a decline of 289.83 points, or 0.67 per cent, in the first hour of trading on Friday.

The local bourse closed bearish on Thursday amid reports of the first case of Omicron variant of the coronavirus in the country. The market opened on a positive note but remained in the green zone only for the first 25 minutes of the session, and succumbed to selling pressure. The rupee depreciation, along with the expected hike in the upcoming monetary policy dragged the investors’ interest down.

Read more: Pakistan stocks slightly down amid profit-taking

Analysts said that there were no positive triggers in the market as the rupee keeps depreciating, with the country’s current account deficit rising. It is expected that the bourse will be volatile in absence of any positive triggers.

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