Stock market stays bullish after holidays

The Stock Market opened after three days and posted notable gains on Monday morning. Opening at the previous close of Thursday at 46,232.59 points, the benchmark KSE-100 index shot up to 46,704.63 points within two hours of trading.

Some fluctuations set in towards noon, but the index still managed to hover over 46,630.87 points, nearly 400 points above opening status. Trading volume is slower to pick pace with a little over 46 million shares trading hands in the first half of the opening day of trading.

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Energy sector is spearheading this drive with E&P companies trading in green. Gas and petroleum companies have already posted significant upward movement, with the remainder of the day poised to follow suit.

Multiple factors have influenced this bullish trend in the stock market, starting from the release of delimitations by the Election Commission of Pakistan (ECP), and the improvement in Pakistani Rupee parity. E&P companies posting gains can also be attributed to the global decline in international crude prices.