The KSE 100 index of Pakistan collects 8,000 points in 6 unbeaten sessions. 2 reasons why

The Pakistan stock market is on a role, with the Benchmark KSE 100 index that collects nearly 8,000 points in the last six trade sessions and remain unbeaten. The index reached a new 52 -week high from 166,556.30 on Tuesday before he closed the session on 165,493,58, with a lead of 1,645.90 points or almost 1% for closing Monday.

The stock markets of Pakistan have risen on several triggers, including the growing proximity of Pakistan with the US and the recent deal with Saudi Arabia.

Some of the best profit of today were Yousaf Weaving Mills, Punjab Oil Mills, Systems Ltd, Tpl Reit Fund I Unt and United Bank that jumped with more than 7%. Among the Laggards were Rafhan Maize Products, Unity Foods, JDW Sugar Mills, Avanceon and Agritech Ltd who fell to 5%.

This is what led to the rise in the KSE 100 index:

1) Growing proximity with us

Relations between the western neighbor of India and the US have taken a sharp positive turn since President Donald Trump took the reins of the largest economy in the world. The Trump government has imposed a rate of 19% on the export of Pakistan, while the step is mentioned as a “balanced and future-oriented” movement that improves the country’s competitiveness on the American market.

Pakistan welcomed the move because it was a climb of the previous 29% rate announced by the US president.

Trump has also been pronounced considerably about deepening the trade relationships of the US with Pakistan, especially in the field of critical minerals and hydrocarbons.

Earlier Times of India reported the American State Secretary Marco Rubio about exploring new economic cooperation options in critical minerals and hydrocarbons.

In August, Trump also announced that it would close a deal with Pakistan to develop their oil reserves. “We are choosing the oil company that will lead this partnership. Who knows, maybe someday they will someday sell oil to India!”, Trump then wrote on Truth Social.

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2) Pakistan-Saudi Arabia Defense Pact

A “strategic mutual defense agreement” was signed by Saudi crown prince Mohammed bin Salman and Pakistan Premier Shehbaz Sharif on September 17. The move was praised as’ Islamic NATO by the two countries.

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