Pakistan Stock Exchange experienced a strong bullish trend following the budget announcement. On the first day post-budget, the market welcomed the new financial measures with notable gains.
The Hundred Index saw an impressive increase of 1,708 points, reaching 74,505 points, as two critical limits of 73,000 and 74,000 points were restored.
Key factors contributing to this positive trend include the decision not to increase capital gain tax on filers and the absence of a tax on dividends, which have been favorable for market sentiment.
The announcement of a Rs1,500 billion development budget has had a positive effect on the market. Earlier in the day, the 100-Index rose by 1,516 points to 74,313 points, reflecting the market’s positive response to the budget.
The business activity began on a positive note with the 100 Index initially increasing by 637 points, reaching 73,435 points, and the market crossing the significant 73,000 points threshold.
