Listless trading at the Pakistan Stock exchange caused the exchange to remain sideways for most of trading. The KSE100 index gained 81 points to settle at 48,239.
Bears took over at the Pakistan Stock Exchange with the index recording another negative close. The KSE100 index went down by 323 points to settle at 48,158.
In the absence of any positive triggers the Pakistan Stock Exchange recorded another negative close. The KSE100 index lost 152 points to settle at 48,481.
The 2021-22 budget has been hailed as a growth budget which aims to put the country on a trajectory for sustainable growth. The government has expressed that one of their main objectives is to support vulnerable segments of society.
Finance Minister Shaukat Tarin presented the Federal Budget today amid significant noise from the opposition. Total expenditure is to be increased to a record amount of PKR 8.49T an increment of 19% from the previous year. The government also aims to increase tax collection to PKR 5.82T an increase of 17.4%. This budget aims to support growth more than encouraging austerity as done in the past PTI government announcements.
Turn around at the Pakistan Stock Exchange on Wednesday with the index in the green throughout trading. The KSE100 index gained 474 points to reach at 48,251.
The federal budget, which will be announced this Thursday, comes at a time of great economic uncertainty due to the pandemic. Pakistan is likely to continue to try and foster the growth achieved in FY21 which exceeded other regional economies.
Bears took over at the Pakistan Stock Exchange as the index posted another close in the red. The KSE100 index went down by 370 points to settle at 47,778.
The positive trend continued at the Pakistan Stock Exchange in the first trading session of the week. The KSE100 index went up by 182 points to reach 46,097.
PML-N's Nosheen Iftikhar won the hotly contested re-election in Daska and gained victory over PTI's Ali Asjad Malhi according to official results by the Election Commission of Pakistan.
