Pakistan Stock Market: KSE-100 Index jumps almost 1% amid Pakistan-Saudi Arabia Defense Agreement, up 96% in a year

The Stock Market in Pakistan: The Bulls returned to the KSE 100 index of Karachi, as it jumped almost 1% in trade on Thursday after an almost improper session seen on Wednesday. The KSE 100 index rose by more than 1,300 points or 0.85% to the peak of 157,590 amid a large defense agreement with Saudi Arabia. With today’s rise, the KSE 100 index delivered almost multibagger returns to investors, which rose 96% in a year. September is the fifth consecutive month of profits for the KSE 100 index, which is almost 6% higher this month. This comes on the back of a rise of almost 7% seen in August, 11% profits recorded in July, and 5% and 7% growth in June and May respectively. The surge of Pakistan is explained by its small market size – where even limited foreign inflow can have a major impact – behind the IMF support and domestic rate cuts that have encouraged liquidity, Busani, Business Head, Invasset PMS, told an earlier opportunity. Much of the momentum was powered by incremental fund flow from the US and China, which, given Pakistan’s scale, was enough to stimulate a sharp rally, he added. Pakistan-Saudi defense agreement, meanwhile, had a sharp surge in Pakistan today following the signing of a formal mutual defense treaty between Pakistan and Saudi Arabia on Wednesday. State-owned Pakistani television utterance materials from Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman-the de facto leader of the Kingdom Omhels after the agreement was signed. The army chief, Field Marshal Asim Munir, was also present at the ceremony. The Saudi agreement comes months after a military conflict between Pakistan and India in May. Randhir Jaiswal, spokesperson for the Foreign Affairs spokesman, said in a position on social media website X that India is aware of the development, adding that it would study the implications for the safety of New -Delhi and for regional stability. “The government is still committed to protecting India’s national interests and ensuring comprehensive national security in all domains,” he said. (With input from agencies) Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or brokerage firms, not coin. We advise investors to consult with certified experts before making investment decisions, as market conditions can change quickly and conditions can vary.