Pakistan's benchmark share index crosses 1,00,000 mark for the first time

Pakistan's benchmark share index breached 100,000 points for the first time on Thursday in early trade.

The market has jumped from 40,000 to 100,000 in 17 months, said Mohammed Sohail, CEO of Topline Securities, with a $7 billion bailout in September from the International Monetary Fund and new-found fiscal and monetary discipline improving investor sentiment.

As well, a "faster-than-expected fall in inflation and interest rates have added cash liquidity," said Sohail.


The index closed up more than 5% on Wednesday, recovering losses from the previous day, when it closed down 3.6% on the news of political clashes.

The market is up more than 60% this year.

Even with the rally, Pakistan shares have an average price-to-earnings ratio of around five, compared to a historical average of around seven. (Reporting by Ariba Shahid in Karachi; Editing by Clarence Fernandez and Tom Hogue)