KARACHI – The Pakistan Stock Exchange (PSX) maintained its bullish trend as it reached another all-time high as recent defence pact between Pakistan and Saudi Arabia has boosted investor confidence despite flood challenges.
The benchmark KSE 100 index has surged by 723.73 points to reach historic high of 158,677.19 points, reflecting a change of 0.46 percent compared to previous close of 157,953.46 points.
The defence deal, which was signed during Prime Minister Shehbaz Sharif’s recent visit to Riyadh, is being described as historic milestone that will further bolster the bilateral ties.
The “Strategic Mutual Defense Agreement” aims to develop aspects of defense cooperation between the two countries and strengthen joint deterrence against any aggression. The agreement states that any aggression against either country shall be considered an aggression against both.
In previous session, the 100-index continued with bullish trend on Thursday, gaining 1,775.65 points, a positive change of 1.14 percent, closing at 157,953.47 points against 156,177.82 points on the previous trading day.
The ready market saw robust activity with 1,959,100,058 shares traded, valued at Rs.56.93 billion, compared to 1,499,302,473 shares worth Rs.48.85 billion the previous day.
Overall, 485 companies transacted shares in the market; 332 posted gains, 124 sustained losses, while 29 remained unchanged.
