Karachi Stock Exchange: The Pakistani index KSE 100 continued its winning streak for three consecutive sessions on May 13th. The index has nearly recovered its early May losses, which were caused due to India and Pakistan's geopolitical tensions. From May 9th to 13th trading sessions, the KSE index has skyrocketed by nearly 16%. As much as a 16,302.06-point surge is recorded.
KSE 100 Index:
On May 13th, the KSE index climbed by at least 2,531.15 points or 2.16% to hit an intraday high of 119,828.88. At the time of writing, the index traded at 117,773.49, higher by 475.75 points or 0.41%.
The indicators in KSE are of a strong bullish tone. The KSE 100 index jumped by 9.5% on May 12 and was up by 3.5% on May 9. From May 5-8, the index had dropped nearly 16%.
In the three-consecutive days winning streak, the KSE 100 index skyrocketed by 16,302.06 points or a 15.76% jump.
One of the biggest reasons for the surge in Pakistani stocks is the ceasefire agreement between India and Pakistan and the release of two loans from the IMF.
"Bulls dominated the session as the KSE-100 index posted a gain of 10,123 points to close at 117,298. Volumes stood at 733mn shares compared to 516mn shares traded in the previous session. The index has closed above the 30-DMA and the 50-DMA which will restrict downside at 115,119 and 115,043 levels, respectively. However, a break above yesterday's high of 117,328 will target the all-time high of 120,797. The RSI and the MACD have improved, supporting a positive view. Investors are recommended to 'Buy on dips', with risk defined below the 50-DMA. The support and resistance levels are seen at 116,285 and 117,819, respectively," said a Pakistani-based brokerage JS Global's note.
KSE index is now moving closer to its all-time high of 120,796.67, which was recorded in the start of April 2025.
While addressing the nation on May 12th, Prime Minister Narendra Modi remarked that the nation has witnessed both India's strength and restraint in recent days. He extended his salute to the country's formidable armed forces, intelligence agencies, and scientists on behalf of every Indian citizen.
He highlighted the unwavering courage displayed by India's brave soldiers in achieving the objectives of Operation Sindoor, acknowledging their valour, resilience, and indomitable spirit. He dedicated this unparalleled bravery to every mother, sister, and daughter of the nation.
PM Modi revealed that after suffering severe losses, Pakistan's military reached out to India's DGMO on the afternoon of May 10. By then, India had already dismantled large-scale terrorist infrastructure, eliminated key militants, and reduced Pakistan's terror hubs to ruins. Shri Modi noted that Pakistan, in its appeal, assured that it would cease all terrorist activities and military aggression against India.
In light of this statement, India reviewed the situation and decided to temporarily suspend its counter-operations against Pakistan's terrorist and military installations. He reiterated that this suspension is not a conclusion-India will continue to assess Pakistan's every move in the coming days, ensuring that its future actions align with its commitments, as per the PMO speech released by PIB.
However, PM Modi added, "If Pakistan seeks survival, it must dismantle its terror infrastructure-there is no other path to peace." He reaffirmed India's firm stance, stating that terror and talks cannot coexist, terror and trade cannot run parallel, and blood and water cannot flow together. Addressing the global community, he reiterated India's long-standing policy that any discussions with Pakistan will focus solely on terrorism and any negotiations with Pakistan will center around Pakistan-Occupied Kashmir (PoK).
On May 9th, IMF announced that it completed the first review of Pakistan's economic reform program supported by the EFF Arrangement.
IMF's note said this decision allows for an immediate disbursement of around $1 billion (SDR 760 million), bringing total disbursements under the arrangement to about $2.1 billion (SDR 1.52 billion). In addition, the IMF Executive Board approved the authorities' request for an arrangement under the Resilience and Sustainability Facility (RSF), with access of about US$1.4 billion (SDR 1 billion).
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