New Delhi, Sept. 18 -- The bulls returned to Karachi Stock Exchange's KSE 100 index as it jumped nearly 1% in trade on Thursday after a nearly lacklustre session seen on Wednesday. The KSE 100 index rose over 1,300 points or 0.85% to the day's high of 157,590 amid a major defence deal with Saudi Arabia.

With today's rise, the KSE 100 index has delivered near multibagger returns to investors, surging 96% in a year.

September marks the fifth consecutive month of gains for the KSE 100 index, which is up nearly 6% so far this month. It comes on the back of a nearly 7% rise seen in August, 11% gains recorded in July, and 5% and 7% growth clocked in June and May, respectively.

Pakistan's surge is explained by its small market size-where even...