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PSX at peak ahead of policy decision | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) opened the week on Monday with renewed optimism and rose to a record high above 170k, reflecting the extension of bullish momentum from the previous week. Investors remained somewhat upbeat ahead of the monetary policy announcement later in the day, when the central bank unexpectedly cut its policy rate by 50 basis points.
The rally was largely driven by buying interest in energy stocks, alongside expectations of a reduction in the policy rate. The session saw wild swings as the KSE-100 index traded between the intra-day high of 171,002 and the low of 170,293, indicating active participation.
At close, the benchmark index recorded a notable growth of 876.82 points, or 0.52%, and settled at 170,741.35.
In its market wrap, KTrade Securities wrote that the PSX kicked off the week on a strong footing, extending the positive momentum seen in recent sessions. The KSE-100 index gained 877 points to close at 170,741, marking a new all-time high, as sustained buying interest kept the market firm throughout the day.
Sector-wise performance was led by oil & gas, technology and cement stocks. Pakistan Petroleum emerged as the largest contributor to the index’s advance, while Systems Limited, Maple Leaf Cement, National Bank, United Bank and Oil and Gas Development Company (OGDC) also made notable positive contributions, it said.
Market activity was healthy as the outlook remained constructive, supported by several positive developments, including the 50-basis-point rate cut to 10.50%, partial progress on settling energy-sector circular debt and renewed US investment commitment to the Reko Diq mining project, KTrade observed.
Arif Habib Ltd (AHL) Deputy Head of Trading Ali Najib remarked that after multiple unsuccessful attempts, the PSX finally managed to close above the key 170k level, with the KSE-100 index ending the session at 170,741, up 877 points.
He pointed out that trading opened on a strong note, driven by optimism surrounding the resolution of gas-sector circular debt. This development kept energy stocks, particularly Pakistan Petroleum, Sui Southern Gas Company (SSGC), Sui Northern Gas Pipelines Ltd, Mari Energies and OGDC, in the spotlight as they enjoyed strong buying interest during the early hours.
At one point, the benchmark index even crossed the 171k mark; however, profit-taking at higher levels trimmed some of the gains, Najib said. In a major move, the State Bank surprised markets by cutting the policy rate by 50 basis points to 10.5%, contrary to a Bloomberg survey where 40 out of 42 economists expected the rate to stay unchanged.
Pakistan Petroleum, Systems Ltd, Maple Leaf Cement, NBP and UBL collectively added 652 points to the index, while Hub Power, Fauji Fertiliser, Engro Fertilisers, Bank AL Habib and SSGC faced profit-taking, erasing 156 points, he added.
JS Global analyst Mubashir Anis Naviwala noted that stocks extended their bullish momentum as the KSE-100 closed at 170,741, up 877 points. The index traded volatile but stayed firm above the 170k psychological mark.
He mentioned that the intra-day range remained wide, showing active participation on both sides. Buying interest re-emerged after midday consolidation, and a late-session surge helped the index close near the day’s highs. “Market outlook remains positive while holding above the support level of 170k,” he said.
Overall trading volumes increased to 905.7 million shares compared to the previous tally of 873 million. The value of traded shares stood at Rs47.7 billion.
Shares of 486 companies were traded. Of these, 239 closed higher, 202 dropped, and 45 remained unchanged.
Pakistan International Bulk Terminal topped the volumes with trading in 123.3 million shares, gaining Rs1.56 to close at Rs17.19. It was followed by Hum Network with 39.7 million shares, rising Rs0.23 to close at Rs15.11 and Fast Cables with 36.3 million shares, higher by Rs1.77 to close at Rs26.24.
During the day, foreign investors bought shares worth a net Rs46.2 million, the National Clearing Company of Pakistan reported.
India’s budget focuses on infrastructure and defence spending and tax breaks for data-centre investments.
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New Income Tax Act 2025 to come into effect from April 1, key reliefs announced in Budget 2026
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said that the Income Tax Act 2025 will come into effect from April 1, 2026, and the I-T forms have been redesigned such that ordinary citizens can comply without difficulty for ease of living.
The new measures include exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to August 31.
Individuals with ITR 1 and ITR 2 will continue to file I-T returns till July 31.
“In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in record time, and the Income Tax Act 2025 will come into effect from April 1, 2026. The forms have been redesigned such that ordinary citizens can comply without difficulty, for) ease of living,” she said while presenting the Budget 2026-27
In a move that directly eases cash-flow pressure on individuals making overseas payments, the Union Budget announced lower tax collection at source across key categories.
“I propose to reduce the TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent without any stipulation of amount. I propose to reduce the TCS rate for pursuing education and for medical purposes from 5 per cent to 2 per cent,” said Sitharaman.
She clarified withholding on services, adding that “supply of manpower services is proposed to be specifically brought within the ambit of payment contractors for the purpose of TDS to avoid ambiguity”.
“Thus, TDS on these services will be at the rate of either 1 per cent or 2 per cent only,” she mentioned during her Budget speech.
The Budget also proposes a tax holiday for foreign cloud companies using data centres in India till 2047.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
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