Foreign investors made a new record in the stock market as the Pakistan Stock Exchange closed at the highest level in history amid the reports that there could be a decrease in policy rate by the State Bank of Pakistan.
Islamabad: PSX-100 index closes on record 70,910 points. The Pakistan Stock Exchange ended the business at the highest level in history. The 100-index increased by 620 points to close at the historical level of 70, 910 points.
Foreigners bought $23 million worth of shares in the stock exchange on Friday. After 7 years in the stock exchange, such a huge investment was seen in a single day.
Read More: Stock market opens with minor fluctuations
The Pakistan Stock Exchange is a stock exchange in Pakistan with trading floors in Karachi, Islamabad, and Lahore. The Lahore floor has a subfloor in Sialkot.[4][5] PSX was classified by MSCI as a frontier market on 8 September 2021.
The PSX was established on 11 January 2016 after the merger of the Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange. As of January 2022, there are about 375 companies listed on the PSX with a total market capitalisation of PKR 7,756 billion (US$27 billion).
Investors on the exchanges include 1,886 foreign institutional investors and 883 domestic institutional investors along with about 220,000 retail investors. There are also about 400 brokerage houses which are members of the PSX as well as 21 asset management companies. One of the PSX’s constituent stock exchanges, the Karachi Stock Exchange, was listed among the world’s best performing frontier stock markets: between 2009 and 2015 it delivered an average 26% return annually. In December 2016, PSX sold 40% strategic shares to a Chinese consortium for US$85 million.
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