- The KSE-100 index closed at 157,953.46 points, up 1,775.65 points, or 1.14%.
- The index affected an intraday summit of 158,082.55, up 1,904.74 points, or 1.22%.
- The bottom of the session recorded at 156,978.85, still increased by 801.04 points, or 0.51%.
The equity market has increased sharply on Thursday, ending a new record because the feeling of investors was supported by a historic strategic mutual defense agreement signed between Pakistan and Saudi Arabia.
The KSE-100 index of the Pakistan Stock Exchange (PSX) settled at 157,953.46 points, up 1,775.65 points, or 1.14%, compared to the previous fence of 156,177.81.
During the session, the index climbed to an intraday summit of 158,082.55 points, winning 1,904.74 points, or 1.22%. The LOW session was recorded at 156,978.85 points, ever higher of 801.04 points, or 0.51%.
“The news of the defense partnership has brought enthusiasm to all levels. This is a major macro game changer that can pay more liquidity and reduce risk premium,” Aah Soomro, an independent investment and economic analyst.
“The index can go upwards without corrections,” he added.
Pakistan and Saudi Arabia offered a historic strategic mutual mutual defense agreement on Wednesday, committing to dealing with any aggression against a country like an assault against both.
The pact was signed during the state visit to Prime Minister Shehbaz Sharif in Riyadh, where he was received by the Crown Prince and Prime Minister Mohammed Bin Salman at the Al-Yamamah Palace.
The pact reflects a joint commitment to improve bilateral security ties and to contribute to regional and global peace, according to the press release. It aims to further develop defense cooperation and strengthen joint deterrence against any aggression. Above all, the agreement stipulates that any aggression against a country must be considered as an assault against both.
The government also noted RS195 billion in the auction of market treasury bills (T-Bills) on Wednesday, exceeding its target of 175 billion rupees. However, he rejected the offers for the Pakistani investment obligation at 10 to 10 years old, investors, investors demanded higher yields.
The T-Fill auction attracted the participation of a value of RS1,07 Billions, the yields ending almost flat. The cut -off yield on one month’s paper was released by 1 base point (BP) at 10.7445%. The three -month yield is unchanged to 10,8502%, while six -month -old paper decreased 1 bp to 10.8376%. The 12 -month yield also remained stable at 10.9999%.
The State Bank of Pakistan (SBP) held its 11% stable policy rate on Monday for the third consecutive meeting, citing inflation problems in the midst of devastating floods. Since June 2024, the central bank has reduced the rates by a total of 1,100 bps, but kept them unchanged in June, July and now September.
In comparison, during the previous session on Wednesday, the KSE-100 index closed almost flat, down 3.12 points to 156,177.82, against 156,180.94. The high of the day was 157,196.59 points, while bass was 155,960.36 points.
