The Pakistan Stock Exchange remained lackluster throughout the week ended on June 07, 2024, closing at 73,754 points with benchmark index losing 2,124 points or 2.8%WoW.
The downward pressure was primarily driven by concerns over the potential elimination of the final tax status for CGT and dividends, which would align their tax rates with the normal income tax rate.
Additionally, Moody’s statement suggesting a status quo in the upcoming Monetary Policy Committee (MPC) meeting also exerted some pressure on the market. These negatives overshadowed positive developments during the week.
On the macro front, inflation in May’24 eased to a 30-month low of 11.8%YoY, resulting in positive real interest rates exceeding 1,000bps. This fueled market........