Pakistan stock market: KSE 100 jumps 2%, extends gains to 3rd day as India-Pak ceasefire lifts sentiments

Pakistan stock market: Extending its gains to the third consecutive session, the equity benchmark index of Pakistan – Karachi Stock Exchange 100 (KSE 100) – surged over 2% on Tuesday, May 13, edging closer to its all-time high level. 

Pakistan’s stock market rose to its highest since early April today, after surging 9.4% on Monday following the ceasefire announcement, according to Reuters.

KSE 100 index jumped to the day’s high of 119,828.88, recording significant gains after a record 9% rally seen in the previous trading session on Monday, after India and Pakistan agreed to a ceasefire following four days of conflict.

The gains in the Pakistan stock market are fueled by optimism around the ceasefire following Operation Sindoor and the IMF’s $1.4 billion loan approval, said Harsal Dasani, Research Analyst at INVasset PMS. As of yesterday’s close, Dasani said the index was just 3% shy of its all-time high, reflecting a wave of investor relief and short-term euphoria.