The Pakistan Stock Exchange (PSX) rose by 1,700 points on Thursday to settle near the all-time high of 158,000 on the back of increased investor confidence after the signing of a mutual defence pact with Saudi Arabia.

The benchmark KSE-100 index surged by 1,775.65 points, or 1.14 per cent, to close at 157,953.46 — its highest level in history.

Pakis­tan and Saudi Arabia entered into a landmark mutual defence agreement, under which any aggression against one state will be considered an attack on both. The ‘Strategic Mutual Defence Agreement’ was signed by Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman at the Al-Yamamah Palace in Riyadh on Wednesday.

Talking to Dawn.com, Awais Ashraf, research director at AKD Securities, said the pact had “bolstered investor confidence”, driving the KSE-100 Index to an all-time high close with the second-highest trading volumes in today’s session.

“This........

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