KSE-100 opens bullish today

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 56.59 points, or 0.13 per cent, in the first hour of trading on Wednesday.

The Pakistan stocks managed to close in a green territory as the global crude oil prices rose amid limited impact of Omicron virus on the global demand.

The market continued to remain volatile amid the roll-over week and the speculations surrounding the upcoming mini-budget. Profit-taking was witnessed in the first trading hour, while the market battled between the bulls and bears throughout the day.

Analysts said that the positive trend in today’s opening is the continuity of the last day’s momentum, where the recovery of global crude oil prices is a positive trigger in the markets.

But the market is expected to remain volatile as the investors are being cautious due to the uncertainty in the country’s economic and political situation, along with the resumption of the International Monetary Fund programme, they said.

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