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.
