Synopsis
The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 158.44 points, or 0.36 per cent, in the first hour of trading on Monday.
KARACHI: The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 158.44 points, or 0.36 per cent, in the first hour of trading on Monday.
The Pakistan equity market closed in the green zone on Friday, as the market welcomed the central bank’s liquidity injection via the open market operation (OMO) at the rate of 9.9 per cent.
The market reacted positively to the news and cyclical sectors got in the limelight, especially after the central bank’s indication of no policy move in January 2022
Analysts said that investors got relief from the central bank’s indication of no policy hike in January 2022, along with the State Bank of Pakistan (SBP) report on Friday that Pakistan fetched Foreign Direct Investment amounting to $797.7 million during July-Nov of FY22.
The bourse is expected to move both ways as investors are expecting a mini-budget soon, where the market will react to any introduction, re-imposition or removal of duties and subsidies. There is a likelihood that the inflationary pressures will start paring once the commodity prices lose more steam from tightening by global central banks, they said.
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