Awais Ashraf and Mohammed Sohail Optimistic on Stock Market Surge

The recent surge in the stock market has been a topic of interest among investors and analysts. This upward trend has been linked to the alignment of the budget with the recommendations of the International Monetary Fund (IMF) and the decision to maintain the current capital gains tax on the sale of securities. Awais Ashraf, director of research at AKD Securities, has expressed positivity towards this move, seeing it as a step in the right direction.

Moreover, Mohammed Sohail, chief executive of Topline Securities, has pointed out that the market's rise can also be credited to the absence of any increase in taxes on dividends and capital gains for investors in the new budget. This particular decision has been well-received by investors and is believed to have played a role in fueling the market rally.

The recent developments in the stock market, influenced by budget alignment and tax decisions, have created a favorable environment for investors. The decisions to maintain current tax rates and not impose additional taxes on dividends have contributed to the market's positive momentum. Investors are optimistic about the future outlook, and the market continues to reflect this sentiment through its upward trajectory.