The Pakistan Stock Exchange (PSX) experienced a significant surge on Friday, with the KSE-100 index witnessing a rise of 1,046 points. This rally propelled the index to a new all-time high, surpassing the 77,000-point mark for the first time in the country’s history.
With a 1.35% increase, the PSX is currently at a new all-time high of 77,252 points.
At 11am on Friday morning, the KSE-100 index stood at 77,252.44, reflecting a 1.36% increase from yesterday’s close, as the PSX continued its upward trajectory.
Read more: PSX 100-Index Exceeds 75,000 Mark As Stocks Rally 2700 Points
Investors were encouraged by the absence of any increase in taxes on capital gains and dividend income in the federal budget for the fiscal year 2024-25, contributing to a positive sentiment.
Additionally, projections of a significant increase in dividends from state-owned enterprises (SOEs) have further boosted overall optimism.
Yesterday, the stocks reached an all-time high, closing above the 76,000-point milestone for the first time in intraday trading.
The KSE-100 Index saw an increase of 3,410 points, surpassing key thresholds of 73,000, 74,000, 75,000, and 76,000 points.
Mohammed Sohail, CEO of Topline Securities, attributed the upward trend to the “absence of tax increase on dividends and capital gains (CGT) for investors in the new budget.”
Investor sentiment turned positive as the finance minister revealed during the unveiling of the Economic Survey 2023-24 on Tuesday that there were constructive talks with the IMF for a new loan program.
