Pakistan stock market crosses 120,000-mark amid cautious trading ahead of budget
The KSE-100 index surged by 636 points, or 0.53 percent, to reach at 120,285 points during the intra-day trading at around 10am on Monday.
The market recorded a historic comeback last week following the Pakistan-India ceasefire brokered by US President Donald Trump which proved to be a relief for investors.
But analysts attributed Monday's slightly "slower" activity to cautious investors ahead of the upcoming budget in June.
"The KSE100 has started the week on a muted note, which is reflecting in slower trading activity," Raza Jafri, head of Intermarket Securities, told Arab News.
"It is possible that investors are waiting for the FY26 Budget, expected in early June, before they become more active."
Pakistan is set to unveil its federal budget for the fiscal year 2025–26 on June 2, being formulated under stringent conditions of the International Monetary Fund (IMF).
Tensions between India and Pakistan spiked this month after New Delhi launched missile strikes on multiple locations in Pakistan, blaming Islamabad for a deadly Apr. 22 attack in Indian-administered Kashmir that killed 26 tourists. Pakistan has denied involvement.
The crisis triggered a 12 percent decline at the Pakistani stock market from Apr. 23 till May 8.
However, the market recovered nearly all of its losses last week, climbing more than 3,500 points.
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