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Karachi Stock Exchange CGT rate confusion in the upcoming budget

Karachi Stock Exchange CGT rate confusion in the upcoming budget

Karachi Stock Exchange CGT rate confusion in the upcoming budget
Karachi Stock Exchange CGT rate confusion in the upcoming budget

KARACHI: Pakistan’s main stock exchange closed lower on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.29 percent, or 82.80 points, to 28,760.12.

Due to confusion on capital gain tax rate in the upcoming budget, some profit taking was seen in leading stocks.

Pakistan State Oil Co Ltd and Nishat Mills Ltd dropped heavily, said Samar Iqbal, a dealer at Topline Securities.

Nishat Mills Ltd fell 2.48 percent to 110 rupees and Engro Corporation Ltd was down 1.21 percent to 197.67 rupees.

The rupee ended weaker 98.76/98.81 against the dollar compared to Tuesday’s close of 98.72/98.77.

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