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Share prices toss PSX index to historic high of 77,000

By News Desk

June 14, 2024 11:22 AM


Share prices toss PSX index to historic high of 77,000

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The share prices hit a historic high at Pakistan Stock Exchange (PSX) on Friday as the stocks gained more than 1,000 points, only a day after recording the biggest single-day gains, reported 24NewsHD TV channel.

The benchmark KSE-100 index surged by 1,097 points or 1.44 percent taking the index to 77,305.28 points as compared to the previous day’s close at 76,208.16.

On Thursday, the index had soared more than 3,400 points, which came a day after the government unveiled the federal budget for the next fiscal year, sparing the stock exchange from any new tax measures.

The budget cheered the buyers by avoiding an anticipated increase in capital gains tax, despite an ambitious tax revenue target.

Bulls returned to the PSX on Thursday as shares saw a massive gain of more than 3,400 points. The index closed at 76,208.16, up by 3,410.73 or 4.69pc, from the previous close of 72,797.43 points.

 

Reporter Baseem Iftikhar


News Desk


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