Mini budget: Surprise response from Pakistan Stock Exchange

Mini budget: Surprise response from Pakistan Stock Exchange

KARACHI - Pakistan Stock Exchange surprise response was witnessed after the announcement of the Mini Budget by federal government.

With the announcement of the amended Finance Bill for 2018 came the much-needed certainty over the economic policies of the new government.

“Investors were quick to respond as chemicals, foods and cements became part of the rally following the finance minister’s speech,” said Capital Stake Director Research Maha Jafer Butt, predicting no negative impact on any sector in the near future.

The KSE 100 index added 749.96 points to touch intraday high of 41,270.43. It settled with an appreciation of 717.60 points at 41,237.07. The KMI 30 index was up by 2.20 per cent and ended at 70,217.70, while the KSE All Share index appreciated by 389.68 points to end the day at 30,076.64 respectively.

The market volume surged up by 15 per cent from the previous session and was recorded at 166.52 million. Lotte Chemical Pakistan Limited (LOTCHEM +3.45%) led the volume chart exchanging 13.24 million shares, followed by Unity Foods Limited (UNITY +4.98%) with 10.44 million shares.