Pakistan Stock Exchange rallies 2,700 points after Budget 2024-25

12:32 PM | 13 Jun, 2024
Pakistan Stock Exchange rallies 2,700 points after Budget 2024-25
Source: File Photo

KARACHI – Pakistan Stock Exchange (PSX) saw upward trend after budget 2024-25 announcement.

A day after unveiling of federal budget, the market responded positively to the new financial measures, with KSE-100 gaining an impressive 1,708 points to reach 74,505 points, surpassing the critical thresholds of 73,000 and 74,000 points.

Stock market advanced its rally, crossing 75,000-point milestone, touching 75,676 points with a total increase of 2,700 points.

Experts mentioned several factors driving this positive trend include the decision to maintain the current capital gains tax rate for filers and the lack of a tax on dividends, which have boosted market sentiment.

The announcement of a Rs1,500 billion development budget also had a favorable impact on the market. Earlier in the day, the 100 Index climbed by 1,516 points to 74,313 points, demonstrating the market's positive reception to the budget.

The trading day started on a high note with the 100 Index initially rising by 637 points to reach 73,435 points, successfully crossing the significant 73,000-point threshold.

Daily Pakistan Global Web Desk


Currency Rates Today - Pakistani Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 19 July 2024

Pakistani currency rates against US Dollar and other currencies on July 19, 2024 (Friday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 278.9 for buying and 280.8 for selling. Euro's buying rate remains stable at 301.25 and selling rate is 303.15.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 278.9 280.8
Euro EUR 301.25 303.15
UK Pound Sterling GBP 354.75 358.25
U.A.E Dirham AED 76.4 77.15
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.4 26.7
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.5 7.65


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