Pakistan Stock Exchange Continues Bullish Trend Amid Confidence in Government's Economic Policies

Strategic Insights -

The Pakistan Stock Exchange (PSX) maintained its bullish trend on Thursday, with the KSE-100 benchmark reaching a fresh peak of 125,420.96 points, a gain of 1068.28 points. The surge is attributed to the government's budget, which has sparked a record rally in the stock market. The budget has kept the Capital Gains Tax (CGT) and dividend rates unchanged, a move seen as positive for the market. Additionally, the primary surplus target of 2.4% of GDP, in line with IMF guidelines, is also viewed as a positive development.

Key Takeaways:

  • The KSE-100 benchmark reached a fresh peak of 125,420.96 points, a gain of 1068.28 points.
  • The budget has sparked a record rally in the stock market, with Topline Securities attributing the rise to several measures announced by the government.
  • The government has kept the CGT and dividend rates unchanged, a move seen as positive for the market.
  • The primary surplus target of 2.4% of GDP, in line with IMF guidelines, is also viewed as a positive development.
  • A total of 1,041,129,574 shares worth Rs 46.707 billion were traded during the previous day.
  • 478 companies transacted their shares in the stock market, with 283 companies recording gains, 157 sustaining losses, and 38 companies remaining unchanged.
  • The three top trading companies were Pervez Ahmed Company, WorldCall Telecom, and Sui South Gas.

Statistics:

  • KSE-100 benchmark: 125,420.96 points (up 1068.28 points)
  • Total shares traded: 1,041,129,574
  • Total value of shares traded: Rs 46.707 billion
  • Number of companies trading shares: 478
  • Number of companies gaining: 283
  • Number of companies sustaining losses: 157
  • Number of companies with unchanged share price: 38

Sources:

  • Topline Securities
  • Pakistan Stock Exchange (PSX)