Karachi
\nThe capital market rallied on Thursday as investors welcomed signals of fiscal discipline and expected relief for the salaried class in the upcoming federal budget.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 118,971.40 points, up 638.50 points, or 0.54%, from the previous close of 118,332.90.
\nDuring the session, the index climbed to an intraday high of 119,639.47, gaining 1,306.57 points, or 1.1%. The session\u2019s low was recorded at 118,481.97, still up 149.07 points, or 0.13%.
\n\u201cThere is overall optimism on IMF\u2019s dollar being transferred, budget to remain in line with IMF targets ensuring fiscal discipline and continuing growth story rally,\u201d said AAH Soomro, an independent investment and economic analyst
\nAhfaz Mustafa, CEO of Ismail Iqbal Securities, noted the market\u2019s tight movement: \u201cMarkets are trading within a tight 3% to 4% range as people are reacting upon what may or may not be a part of the federal budget.\u201d
\nThe government had earlier postponed the budget presentation from June 2 to June 10, citing unresolved fiscal targets under discussion with the International Monetary Fund. Despite the resumption of talks on Thursday, officials confirmed that no breakthrough had yet been achieved.
\nThe Economic Survey \u2014 a precursor to the budget, reviewing the country\u2019s economic performance \u2014 remains scheduled for June 9, subject to final confirmation.
\nMeanwhile, Finance Minister Muhammad Aurangzeb indicated earlier this week that the FY26 budget would contain tax relief for the salaried class.
\nSpeaking in Islamabad, he said the government is committed to easing the tax burden on salaried individuals, whose income is taxed at source. He added that the upcoming budget should offer strategic economic direction rather than merely itemising revenues and expenditures.
\nThe federal budget, due June 10, is expected to prioritise fiscal consolidation, broaden the tax base, and reduce untargeted subsidies, aligning closely with IMF guidelines to maintain debt sustainability.
\nTrading resumed on Thursday after a midweek market holiday on account of Youm-e-Takbeer.
\nIn the previous session on Tuesday, the KSE-100 index had gained a modest 111.79 points, or 0.09%, closing at 118,332.91. The day\u2019s high and low stood at 118,807.92 and 118,143.68, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi The capital market rallied on Thursday as investors welcomed signals of fiscal discipline and expected relief for the salaried class in the upcoming federal budget. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 118,971.40 points, up 638.50 points, or 0.54%, from the previous close of 118,332.90. During the session, the index climbed …<\/p>\n","protected":false},"author":4,"featured_media":60338,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-81778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=81778"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81778\/revisions"}],"predecessor-version":[{"id":81779,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81778\/revisions\/81779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/60338"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=81778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=81778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=81778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}