KARACHI: Bulls have returned to the Pakistan Stock Exchange (PSX) today a day following the government proposed its budget for Financial Year 2024-25 as shares went up by more than 2304 points in intraday trade.
The KSE-100 index went up by 3.17 per cent to stand at 75,101.91 points from the last close of 72,797.43 at 12:10 am. Mohammed Sohail, chief executive of Topline Securities, credited the rising trajectory to no increase in tax on dividend and capital gain [tax] (CGT) for investors in the new budget.
Simialry, Raza Jafri, chief executive of EFG Hermes Pakistan, stated that the market is clearly reacting positively to the soft changes to CGT for tax filers, in sharp contrast to the fears in the run-up to the budget.
More to be followed
