PSX surges by 1696 points following Pakistan-Saudi defense pact

Karachi (Web Desk): Following the defense agreement between Pakistan and Saudi Arabia, the Pakistan Stock Exchange (PSX) gained 1,696 points on Thursday, closing at a historic high of 157,873.

Owais Ashraf, Research Director at AKD Securities, said that the agreement has boosted investor confidence, resulting in the KSE-100 index closing near its highest level.

He added that the agreement is expected to open doors for further cooperation with Saudi Arabia, including increased export of skilled labor and greater investment opportunities in various sectors of Pakistan.