Pakistan Stock Exchange hits record 77,000 amid buying spree

Source: Daily Pakistan Global

KARACHI - Pakistan Stock Exchange witnessed positive run as the benchmark KSE-100 Index surpassed 77,000 mark for the first time in history.

The post budget buying spree helped benchmark index touching 77,177.62, up by 969.46 points or 1.3percent.

Major buying activity was seen in commercial banks, fertilizer, oil and gas exploration companies, OMCs, and refineries. Major stocks like PRL, PSO, SNGPL, and OGDC traded in green.

The stock market remains notably positive following the budget announcement, with the KSE-100 index crossing the 76,000 mark and closing at 76,208.16, a rise of 3,410.73 points or 4.69pc.

The ongoing buying spree is largely attributed to the positive market reaction to the measures introduced in the federal budget for 2024-25.

The upcoming fiscal year is said to be favorable for the market as the government has maintained the existing treatment of Capital Gain Tax (CGT).