| GEO Business|
| Local stocks react positively to Budget measures|
| Updated at: 1833 PST, Monday, June 07, 2010|
KARACHI: The share prices at Karachi Stock Exchange (KSE) saw gains, as investors reacting positively to the measures announced in Budget 2010-11 took fresh positions, pushing the benchmark KSE-100 Index up by 155 points to close at 9,792.
Today’s trade began in the red zone but investment by government institutions and major mutual funds provided support, switching the Index into positive mode.
Trade volume was recorded at 160 million shares, higher by 64 points compared to Friday. Lotte Pakistan topped the list of volume leaders with a gain of Rs1at Rs10.07.
Market analysts are of the view that investors are accumulating stocks in view of the fact that capital gains tax is not applicable prior to June 30.