KARACHI: Pakistan’s stock market started the week on bullish notes as the KSE-100 index crossed the 46,000 mark in the early hours of the session. Traders and analysts say energy, banks and cement sectors have led to a spike in the market.
The KSE-100 index opened plus and reached 46,109.36 points in the morning, and has been going up ever since. However, extended gains and profit, taking in energy and oil shares followed by rally in the previous two days amid an increase in international oil prices, pushed the index below 46,000 levels by 12:15 pm.
Traders said that the market opened on a bullish note on the back of heavy weight banks with healthy dividend expectations amongst investors, supporting previous trading day sentiments. However, the momentum failed to sustain profit taking in the oil and energy sector stock.