The historic Strategic Mutual Defense Agreement between Saudi Arabia and Pakistan boosted investor sentiment, causing the share market to rise significantly on Thursday and close at a new record.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) ended the day at 157,953.46 points, up 1,775.65 points, or 1.14%, from the close of 156,177.81.
In the course of the session, the index gained 1,904.74 points, or 1.22%, and reached an intraday high of 158,082.55 points. At 156,978.85 points, the session low was still 801.04 points (0.51%) higher.
Everyone is excited by the news regarding the defense collaboration. According to independent investment and economic researcher AAH Soomro, “this is a significant macro rerating game changer that can pour more liquidity and reduce risk premium.”
