Pakistan’s stock market opened on a bullish note this morning with fresh buying. Positive news coming from the macro-economic front and the decrease in political tension has some what improved the investors sentiment.
The benchmark Index managed to breach the 45,500 mark. The Karachi Share Index (KSE-100) gained 671.2 points by 11:50am to 45,528 points as the share prices after a week-long correction were at attractive levels. While the removal of cap of cautious approach seem in previous session supported fresh buying today.
The rift between the Pakistan Democratic Movement (PDM) on the long march has helped in fizzling out the political instability. The traders and analyst said that investors are always concerned about the stability of economy. Encouraging numbers in the large scale manufacturing sector has created a healthy atmosphere for investment, they added.
The overall output of large-scale manufacturing industries (LSMI) has increased by 7.85% in the first seven months of fiscal year 2021 (July 2020 to January 2021) compared to the same period last year.