KSE-100 opens bullish today

KARACHI: The Pakistan stocks opened on a bullish note as the KSE-100 index witnessed an increase of 153.15 points, or 0.35 per cent, in the first hour of trading on Wednesday.

The Pakistan equity market closed bullish on Tuesday, as investors weighed the bull-run in the global equities and surge in the global crude oil prices. The receipt of $3 billion Saudi fund, and upbeat data on cement dispatches, surging 6.9 per cent in November played a catalytic role in the bullish close.

Read more: PSX moves both ways; KSE-100 Index gains 1.32 points

Analysts said that the stocks today opened on a bullish note as the Pakistan Democratic Movement (PDM) extended its long march date to March, which brought political temperature down, giving investor confidence in the market.

The recovery of global crude oil prices and equities, and the $3 billion Saudi Fund along with the data on cement dispatches are also positively affecting the local market, but it is expected that the bourse will be volatile as investors are expecting a hike in interest rate.