Historic IT package lifts PSX

Historic IT package lifts PSX


KARACHI: The Pakistan Stock Exchange resumed gains on Wednesday, helped by strong economic cues and the government’s announcement of an incentive package for the IT and telecom sectors.

On Tuesday, in a historic move, the government approved a number of incentives to boost the growth of information technology (IT) and IT-enabled services (ITeS) sectors, freelancers and startups.

The announcement has investors focusing on tech stocks as they attract new money into the tech sector.

The KSE-100 index surged at the start of trading, however, that momentum was broken as investors took profits, erasing some gains by the end of the session. Bullish investor spirit helped the index close on a positive note.

At the close, the benchmark KSE-100 gained 120.74 points, or 0.27%, to 45,132.92.

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