Dawn
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11:37 Jul 02, 2025
Bulls continued their reign over the trading floor at the Pakistan Stock Exchange (PSX) on Wednesday as shares scaled the 130,000-point barrier to reach a new high after climbing by 2,100 points. The benchmark KSE-100 index opened on a positive note, rising by 1,430.07 points (1.12 per cent) to reach 129,629.49 points at 10:07am, from the previous close of 128,199.42 points. Shares then rose further to reach 130,344.03 points at close, gaining 2,144.61 points (1.67pc) from yesterday. The PSX extended its record-breaking rally for the fourth consecutive session today, which analysts attributed to easing inflation and signs of macroeconomic stability. Awais Ashraf, director of research at AKD Securities, said the increase in tax rate on income from debt securities, along with a change in the taxation structure for mutual funds to proportionate holdings of equities and fixed income, has resulted in inflows to equities from fixed income. “Significant reduction in inflation rate — fell to a low of nine years — wit...