The Pakistan Stock Exchange (PSX) experienced a remarkable surge, gaining over 2,100 points within the first two hours of trading. This uptick followed the federal government’s market-positive budget presentation on Wednesday.
Starting the day at 72,797 points, the benchmark KSE-100 index climbed by 3 percent, or 2,141 points, reaching 74,947 by 11:13 AM.
With liquidity drawing near 75,000 points, the market’s strong response is evident. Investors reacted favorably to minor adjustments in the Capital Gains Tax (CGT) for tax filers. Additionally, the introduction of new taxes targeting non-tax filers, some retailers, and the real estate sector has been positively received.
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This budget aligns largely with the International Monetary Fund’s requirements, which is expected to facilitate the next loan program.
Leading the trading volumes at the time of reporting were Fauji Cement Company Limited (PSX: FCCL), K-Electric Limited (PSX: KEL), OGDC, and Worldcall Telecom Limited (PSX: WTL).
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| FCCL | 23.25 | 23.75 | 22.49 | 0.98 | 15,660,281 |
| KEL | 4.73 | 4.83 | 4.67 | 0.09 | 12,988,465 |
| OGDC | 127.67 | 128.9 | 121.4 | 8.55 | 10,663,852 |
| WTL | 1.32 | 1.34 | 1.3 | 0.03 | 8,136,983 |
| AIRLINK | 78.2 | 80.0 | 75.22 | -0.14 | 7,493,116 |
| PIAHCLA | 13.56 | 13.63 | 12.8 | 0.75 | 6,827,815 |
| SEARL | 61.17 | 61.8 | 59.1 | 2.56 | 5,767,570 |
