On Eid ul Azha, bulls returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 index rising more than 1,500 points. This was due to the upward momentum that continues to be created by last week’s budget presentation for stocks.The KSE100 increased by 1,531 points, or 2 percent, in the first 90 minutes of trading, crossing 78,000 and reaching an all-time high of 78,237.
It was up 1,489 points, or 1.94 percent, at 78,196 at 11:30 AM.After the federal government chose last week not to disclose any changes to the treatment of income from capital gains and dividends to regular tax in the new federal budget, PSX has been in the red.
Top Volumes
Silkbank Limited (PSX: SILK) saw the most participation, with almost 33.8 million shares traded. Habib Bank Limited (PSX: HBL) and K-Electric Limited (PSX: KEL) were the next most active. 11.4 million and 11.2 million shares of the scrips were exchanged, respectively.
This is an intraday market update.
