KSE-100 opens bearish today

KARACHI: The Pakistan stocks opened on a bearish note as the KSE-100 index witnessed a decline of 835.11 points, or 1.84 per cent, in the first hour of trading on Thursday.

The bourse on Wednesday remained in the green territory after the adjustment of the MSCI-related outflows, and the market momentum was supported by the declining international oil prices, despite the inflation figure reaching 11.53 per cent in November 2021.

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The market today opened with a negative momentum, as there are no positive triggers that could give confidence to the investors, dealers said.

“The negative trend in the market prevailed as the investors remained concerned over surge in the Pakistan Investment Bond (PIB) yields by up to 246bps, weak global equities and slump in the global crude oil prices,” Ahsan Mehanti at Arif Habib Corp said.

“The market is expected to remain under pressure throughout the session in absence of any positive triggers,” he added.