Pakistan stocks rallied sharply on Thursday after Saudi Arabia and Pakistan signed a Strategic Mutual Defence Agreement (SMDA) during Prime Minister Shehbaz Sharif’s visit to Riyadh, stoking risk-on sentiment across the board.
The benchmark index surged as much as 1,904 points intraday before settling up 1,775 points (+1.14%) at 157,953.
Blue chips led the charge, with ENGROH, NBP, MARI, UBL, and BOP jointly contributing 733 points to the advance.
Market participation remained vibrant as total volumes clocked in at 1,957 million shares, with a traded value of Rs. 56.9 billion. CNERGY dominated the board, emerging as the volume leader with 213 million shares changing hands.
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