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Business & Finance

KSE-100 opens FY22 on a high, gains 445 points

  • Increase comes on back of approval of amended budget and high export numbers
Published July 1, 2021

The KSE-100 opened the new fiscal year on a high, gaining over 440 points to settle at 47,800 on Thursday.

At close of trading, the KSE-100 finished at 47,800.57, a gain of 0.94% or 444.55 points.

The gain comes as Pakistan approved the amended Finance Bill 2021, which carries incentives through reduced rates of capital gains tax as well as other growth measures aimed at boosting the country's economy.

Adding to the investor confidence was the announcement made by Advisor to Prime Minister on Trade and Finance Abdul Razak Dawood, who informed that Pakistan recorded the ‘highest-ever’ export of goods during FY 2020-21 at $25.3 billion. The previous highest was $25.1 billion in 2013-14

Volume on the all-share index increased from 549.66 million shares on Wednesday to 760 million on Thursday. The value of shares traded during the session clocked in at Rs16.26 billion.

WorldCall Telecom was the volume leader with 199.48 million shares followed by Silk Bank Ltd with 51.43 million shares, and TPL Corp Ltd at 48.33 million shares.

Shares of 421 companies were traded on Thursday, of which 302 registered an increase, 107 recorded a fall, while 12 remained unchanged.

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