Pakistan Stock Exchange

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Pakistan Stock Exchange
پاکستان اسٹاک ایکسچینج
Type Stock Exchange
Location Karachi, Pakistan
Founded January 11, 2016; 8 years ago (2016-01-11)
Owner Pakistan Stock Exchange Limited
Currency Pakistani Rupee
Volume $75 billion[citation needed]
Website www.psx.com.pk

The Pakistan Stock Exchange (PSX) is the official stock exchange of Pakistan with trading offices in Karachi, Islamabad and Lahore.[1][2] PSX was launched on 11 January 2016 after the merger of individual stock exchange's of Karachi, Lahore and Islamabad.[3][4]

In December 23, 2015, there are 555 companies listed on the exchange with a total market capitalization of $67 billion.[5][6] 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.[7] 16 of PSX's companies are traded in the MSCI Frontier Markets Index.[8]

History

The Pakistan Stock Exchange (PSX) Limited came into existence in January 2016 when Government of Pakistan decided to merge 3 big exchange markets of the country into one big market.[9]

Karachi Stock Exchange

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

Founded on September 18, 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.[10] 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.[11][12] According to Bloomberg, the Pakistani benchmark stock market index is the third-best performer in the world since 2009.[13] 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 on July 10, 2015, total market capitalization reached Rs. 7.33 trillion (US$72 billion approximately).[14][15]

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 the 11th of 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 January 11, 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.[16]

References

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  5. ↑ http://dunyannews.tv/en/Business/317124-Pakistan-Stock-Exchange-becomes-functional
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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External links

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