KARACHI: Pakistan equity market opened on a bullish note, as the KSE-100 Index witnessed an increase of 102.19 points, or 0.22 per cent, in the first hour of trading on Thursday.
The index on Wednesday, stayed in the green zone as the market celebrated a statement by Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin that dispelled the impression that the government-IMF (International Monetary Fund) deal is intact and the negotiations are at an advanced stage, which eventually gave confidence to investors.
“The ADB [Asian Development Bank] approval of $600 million social assistance played a catalytic role in the bullish trend of the market pervious day and the news of ADB plans to provide Pakistan with about $10 billion in fresh assistance for various development projects is a welcoming effect which investors are taking positively,” Ahsan Mehanti at Arif Habib said.
