The Pakistan Stock Exchange building. Image: File
KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 197.07 points, or 0.43 per cent, in the first hour of trading on Monday.
The local equity market closed higher on Friday, amid rising global commodity prices and the likely release of the International Monetary Fund (IMF) tranche.
The market opened on a negative note and remained bearish for the first 15 minutes of the session; however, the market later followed the trend of global markets and remained positive throughout the session.
Read more: Positive triggers likely to keep bourse bullish
Analysts said that the investors’ confidence was bolstered in the market today by the Ministry of Commerce data showing a 16.7 per cent increase in exports in December 2021, which slightly reduced the trade deficit.
The likely resumption of the IMF rescue programme this month is driving the market towards the green zone, and investors expected the economy to take a breather after receiving the next tranche of the loan.
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