Pakistan Stock Exchange

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Pakistan Stock Exchange
پاکستان اسٹاک ایکسچینج
TypeStock exchange
LocationKarachi, Pakistan
FoundedJanuary 11, 2016; 8 years ago (2016-01-11)
OwnerGovernment of Pakistan
CurrencyPakistani Rupee
No. of listings560 - as on (may 29 , 2017)
Market capUS$ 98 billion - (29 may, 2017) [1]
IndicesKSE 100 Index
KSE-30 Index
KMI 30 Index
Websitewww.psx.com.pk dps.psx.com.pk

The Pakistan Stock Exchange (PSX) is the stock exchange of Pakistan with trading floors in Karachi, Islamabad and Lahore.[2][3] PSX was reclassified as a MSCI Emerging Market in May 2017.[4] While, the FTSE classifies PSX as a Secondary Emerging Market.[5][6]

PSX was established on 11 January 2016 after the merger of individual stock exchange's of Karachi, Lahore and Islamabad.[7][8] PSX's origin's where laid with the establishment of the Karachi Stock Exchange in 1947, the Lahore Stock Exchange in 1970 and the Islamabad Stock Exchange in 1992.[9] As of may 28 , 2016, there are 560 companies listed in PSX and the total market capitalisation is $98billion.[10][11][12]

The investors on the exchanges include 1,886 foreign institutional investors and 883 domestic institutional investors along with about 0.22 million retail investors. There are also about 400 brokerage houses which are members of the PSX as well as 21 asset management companies.[13][14] PSX is among the world's best performing stock market's, between 2009 and 2015 it delivered a 26% a year.[15] In December 2016, PSX sold 40% strategic shares to a Chinese consortium for $85 million.[16]

History

The Pakistan Stock Exchange (PSX) Limited came into inception in January 2016 when the Government of Pakistan decided to merge the three large exchange markets of the country into one combined market.[17]

Karachi Stock Exchange

UK's Foreign Secretary William Hague rings the closing bell at the Karachi stock exchange

Founded on 18 September 1947, Karachi Stock Exchange Limited (KSE) was registered in Pakistan. The Karachi Stock Exchange Limited (KSE), was a stock exchange located at the Stock Exchange Building (SEB) on Stock Exchange Road, in the heart of Karachi's Business District, I. I. Chundrigar Road, Karachi, Sindh Province of Pakistan.[18] It was Pakistan's largest and one of the oldest stock exchange in South Asia. Karachi Stock Exchange was also listed among 10 best stock markets in the world in 2015.[19][20] According to Bloomberg, the Pakistani benchmark stock market index is the third-best performer in the world since 2009.[21] In June 2015, Khaleej Times reported that since 2009, the Pakistani equities delivered 26 percent a year for US dollar investors, making Karachi the best-performing stock exchange in the world. As of 10 July 2015, total market capitalization reached Rs. 7.33 trillion (US$72 billion approximately).[22][23]

Lahore Stock Exchange

Islamabad Stock Exchange Tower is now the office of PSX

Lahore Stock Exchange (Guarantee) Limited (LSE) was Pakistan's second largest stock exchange after the Karachi Stock Exchange. It is located in Lahore, Pakistan. It was formally inducted into the national Pakistan Stock Exchange on 11 January 2016. The Lahore Stock Exchange (Guarantee) Limited came into existence in October 1970, under the Securities and Exchange Ordinance of 1969 by the Government of Pakistan in response to the needs of the provincial metropolis of the province of Punjab. It initially had 83 members and was housed in a rented building in the crowded Bank Square area of Lahore. The number of listed companies has increased to 519 since its inception. The LSE has 152 members of which 81 are corporate, and 54 are individual members. The LSE was the first stock exchange in Pakistan to use the internet and currently 50% of its transactions are via the internet.

Islamabad Stock Exchange

Islamabad Stock Exchange or ISE was the youngest of the three stock exchanges of Pakistan and is located in the capital of Islamabad. Islamabad stock exchange (ISE) was incorporated as a guarantee-limited company on 25 October 1989 in Islamabad. ISE tower is a 22 storey building, which makes it the second highest building of Islamabad after the Telecom Tower. Area covered by the building is 562,629 sq ft (52,269.9 m2), it consists of three levels of basements and ground plus 18 floors above.

Merger

Launched on 11 January 2016, aimed to help reduce market fragmentation and create a strong case for attracting strategic partnerships necessary for providing technological expertise and assistance, PSX was launched.[24]

References

  1. ^ http://www.ksestocks.com/AboutPSX
  2. ^ "Pakistan Stock Exchange formally launched".
  3. ^ "Pakistan Stock Exchange formally launched: Dar seeks joint economic road map for Pakistan".
  4. ^ "Market dips as MSCI reclassifies PSX to Emerging Markets Index". Dawn (newspaper). 16 May 2017. Retrieved 25 May 2017.
  5. ^ "FTSE Country Classification Process" (PDF). ftserussell.com. Retrieved 25 May 2017.
  6. ^ "FTSE takes Pakistan off its watch list". Dawn (newspaper). September 19, 2008. Retrieved 25 May 2017.
  7. ^ "Ishaq Dar formally launches Pakistan Stock Exchange  ".
  8. ^ "Pakistan Stock Exchange starts functioning". Channel 24.
  9. ^ Akhtar, Adeel. "About Pakistan Stock Exchange (www.psx.com.pk)". www.ksestocks.com. Retrieved 2016-06-16.
  10. ^ Akhtar, Adeel. "About Pakistan Stock Exchange (www.psx.com.pk)". www.ksestocks.com. Retrieved 2016-06-16.
  11. ^ http://dunyannews.tv/en/Business/317124-Pakistan-Stock-Exchange-becomes-functional
  12. ^ "Pakistan Stock Exchange to be launched tomorrow". DNA India. 10 January 2016.
  13. ^ "Pakistan Stock Exchange: a quantum leap for Pakistan's capital market". DailyTimes. Retrieved 2016-02-22.
  14. ^ "Stock exchange: Pakistan likely to win emerging market status". The Express Tribune. Retrieved 2016-02-22.
  15. ^ "KSE world's best performing frontier stock market: report". The Express Tribune. 2015-06-03. Retrieved 2016-06-16.
  16. ^ "PSX sells 40pc stake to Chinese consortium". DAWN.COM. 2016-12-23. Retrieved 2016-12-24.
  17. ^ "Pakistan Stock Exchange formally launched".
  18. ^ News, Dawn. "Pakistan Stock Exchange formally launched". {{cite news}}: |last= has generic name (help)
  19. ^ Houreld, Katharine (10 April 2013). "Insight: Pakistan's booming market no black and white matter". Yahoo News. Retrieved 10 April 2013.
  20. ^ Times, Khaleej (29 October 2015). "Karachi Stock Exchange among 10 best stock markets in the world in 2015". Scene on Hai. Retrieved 9 October 2015.
  21. ^ "Pakistan central bank cuts benchmark rate to 42-year low". AFRWEEKEND. May 24, 2015. Archived from the original on May 24, 2015. Retrieved May 24, 2015.
  22. ^ "KSE world's best performing frontier stock market: report". The Express Tribune. June 3, 2015. Archived from the original on Jun 8, 2015. Retrieved Jun 8, 2015.
  23. ^ "Pak equities to extend bull run on strong fundamentals". Khaleej Times. June 1, 2015. Archived from the original on Jun 8, 2015. Retrieved Jun 8, 2015.
  24. ^ Dawn.com (2016-01-11). "Pakistan Stock Exchange formally launched". www.dawn.com. Retrieved 2016-02-22.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Pakistan_Stock_Exchange&oldid=782881539"