KSE-100 opens bullish today

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 290.00 points, or 0.66 per cent, in the first hour of trading on Thursday.

The local equity market started the day on a dull note on Wednesday, as the Federal Cabinet again delayed the approval of the refinery policy bill and rescheduled it for today.

Late recovery was seen at the bourse, as refinery policy draft was finalised and waiting for the government’s green signal, which resulted in most of the refinery stock to close near the upper circuit breaker.

Analysts said that investors’ interest remained upbeat, owing to the year-end closing phenomenon, which resulted in improved activities in today’ opening.

The bullish trend prevailed in the market led by the oil and cement scrips on the surge in global crude oil prices and upbeat data on cement exports.

Speculations over the proposed mini-budget announcements played a catalytic role in the bullish activity ahead of the year-end close, they said.

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