Global Stock Exchanges - Pakistan stocks hit nine-month high.

The benchmark KSE-100 index extended its rally from the previous day as bulls dominated trading on Friday, supporting the index cross the 39,000-point mark after nine months. The extensive buying seems to be the result of political clarity following the Supreme Court's verdict in the army chief tenure extension case.

On Thursday, the apex court gave the government six months to legislate and clearly specify the terms and conditions of service of the army chief, paving the way for General Qamar Javed Bajwa to stay on until a new law determined his terms of service.

The index shot up as soon as trading began and heavy buying continued in the first session, which closed with a gain of nearly 450 points. The second session further lifted the index but selling pressure...