Pakistani KSE-100 Index Hits Record 158,600 Amid Saudi Defense Pact

The Pakistan Stock Exchange (PSX) has experienced significant gains, driven largely by a landmark Strategic Mutual Defence Agreement signed between Pakistan and Saudi Arabia. This pact, which commits both nations to consider any aggression against one as aggression against both, has boosted investor confidence, fueling a strong rally across multiple sectors including banking, oil and gas, power generation, and refineries. The benchmark KSE-100 Index reached record highs, crossing the 158,000-point level for the first time, with substantial trading volumes signaling robust participation from institutional and retail investors. Experts attribute this bullish trend not only to the defense pact but also to expectations of increased foreign investment and economic collaboration between the two countries. The market's upward momentum continued despite challenges such as flood-related economic impacts and a persistent current account deficit. Overall, the defense agreement is seen as a pivotal factor in enhancing regional security and economic prospects, positively influencing Pakistan's stock market performance.