PAKISTAN STOCK EXCHANGE

Pakistan stock exchange surges post-eid with key sectors leading gains

epa11424687 A Pakistani stockbroker monitors share prices at Pakistan Stock Exchange in Karachi, Pakistan, 20 June 2024. The Pakistan Stock Exchange (PSX) opened positively after the Eid al-Adha holidays, with the index reaching 77,802.48 points by 10:35 am and surging past 78,000 by 11:02 am, marking gains of 1.91% from the previous close. Key sectors, including automobile assemblers, commercial banks, and oil and gas companies, saw strong buying interest, with major stocks like ODGC, POL, and HBL trading positively. Boosted by Fitch Ratings' "ambitious" description of Pakistan's fiscal year 2024-25 budget and absence of increased tax rates on dividends and capital gains, investor confidence soared. The KSE-100 index had previously closed at a record high of 76,706.77, gaining 2,952.75 points over the last week. EPA/REHAN KHAN

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