Positive sentiments at bourse, KSE-100 gains over 800 points in early trade

A day after observing massive selling, positive sentiments returned to the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index gaining over 800 points during the opening minutes of trading. At 9:30am, the benchmark index was hovering at 183,201.76, an increase of 817.62 points or 0.45%. Buying interest was seen in key sectors, including automobile assemblers, commercial banks, fertilizer, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, PSO, SSGC, HBL, NBP and UBL, traded in the green. In a key development, the Federal Board of Revenue (FBR) has asked the business community to suggest new taxation measures for increasing of incidence of tax on affluent classes. In this regard, the FBR has sought budget proposals from the business and trade for new fiscal year.