KSE-100 opens bullish today

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 244.90 points, or 0.55 per cent, in the first hour of trading on Tuesday.

The Pakistan stocks moved both ways and closed in the green territory on Monday, owing to the trendy New Year phenomenon.

The imports during December declined 13 per cent. Additionally, Consumer Price Indicator clocked-in at 12.3 per cent in December 2021, which is in line with the expectations; thus, cushioned the investors’ sentiment during the day.

Analysts said that that the stocks opened bullish today, as the global crude oil prices are surging, giving confidence to the investors.

The positive trend prevailed in the market as the trade deficit of the country declined to $4.1 billion during December 2021 and the local currency recovered against dollar over last week, they said.

Strong rupee recovery and 16.7 per cent higher exports for December 2021 played a catalytic role, the economic indicators in the start of the new year are driving the local bourse on an upward trajectory.