Stocks Observer. com

The Karachi stock market remained in the bullish zone on the first trading day of the week Monday on support from Adviser to the Prime Minister on Finance, Shaukat Tareen and Securities and Exchange Commission of Pakistan (SECP) officials’ address regarding tax issues during their visit to the Karachi Stock Exchange (KSE). Analysts said that proposal on removal of withholding tax on sale of securities, minimal audit on federal excise duty collection and presumptive tax regime (PTR) adjustment against due tax was taken positively by both retail and institutional investors resulting in renewed confidence. The KSE 100-share index gained 67.21 points or 0.90 percent to close at 7,538.49 points as compared to 7,471.28 points of the previous trading session. The KSE 30-share index increased by 109.58 points and closed at 8,102.87 points as compared with 7,993.29 points. The KMI 30 index also surged 72.20 points to close at 11,245.23 points as against 11,211.16 points. The market turnover wen...