KSE-100 opens bearish today

KARACHI: The Pakistan stocks opened on a bearish note as the KSE-100 index witnessed a decline of 87.85 points, or 0.20 per cent, in the first hour of trading on Friday.

The local equity market witnessed a bloodbath on Thursday as the investors remained concerned over the expectations of beyond 100bps increase in the key interest rates in the upcoming monetary policy announcement this month. The rising import bill of the country also put the market under pressure.

Read more: KSE-100 opened bearish on Dec 2

Analysts said that the bearish trend in the market is the continuity of the momentum prevailed in the market previous day, as investors are expecting a further hike in the policy, and the higher CPI of 11.5 per cent for November 2021 is also putting the investors at bay.

Following an expanding trade deficit, the continuation of the rupee depreciation cannot be ruled out, which would perpetuate pressures on inflation.