Growth
The KSE is the biggest and most liquid exchange in Pakistan and in 2002 it was declared as the “Best Performing Stock Market of the World” by Business Week. As of December 8, 2009, 652 companies were listed with the market capitalization of Rs. 2.561 trillion (US$ 30.5 Billion) having listed capital of Rs. 717.3 billion (US$ 12 billion). On December 26, 2007, the KSE-100 Index closed at 14,814.85 points.
Foreign buying interest had been very active on the KSE in 2006 and continued in 2007. According to estimates from the State Bank of Pakistan, foreign investment in capital markets total about US$523 Million. According to a research analyst in Pakistan, around 20pc of the total free float in KSE-30 Index is held by foreign participants.
Karachi stock exchange Board of Directors announced in 2007, their plans to construct a 40 story high rise KSE building, as a new direction for future investment.
The exchange began with the KSE-50 index. As the market grew a representative index was needed. On November 1, 1991 the KSE-100 was introduced and remains to this day the most generally accepted measure of the Exchange. KSE-100 index is used as a benchmark to compare prices overtime and companies with the highest market capitalization from each sector are selected and included in it to ensure full market representation.
In 1995, the need was felt for an all share index to reconfirm the KSE-100 and also to provide the basis of index trading in future. By August 29, 1995 the KSE-All Share Index was constructed which became operative on September 18, 1995.
At present, the KSE has four market indices (KMI-30, KSE-30, KSE-100 and KSE-All Share Index).
Read more about this topic: Karachi Stock Exchange
Famous quotes containing the word growth:
“Cities force growth and make men talkative and entertaining, but they make them artificial. What possesses interest for us is the natural of each, his constitutional excellence. This is forever a surprise, engaging and lovely; we cannot be satiated with knowing it, and about it; and it is this which the conversation with Nature cherishes and guards.”
—Ralph Waldo Emerson (1803–1882)
“Rights! There are no rights whatever without corresponding duties. Look at the history of the growth of our constitution, and you will see that our ancestors never upon any occasion stated, as a ground for claiming any of their privileges, an abstract right inherent in themselves; you will nowhere in our parliamentary records find the miserable sophism of the Rights of Man.”
—Samuel Taylor Coleridge (1772–1834)
“The English countryside, its growth and its destruction, is a genuine and tragic theme.”
—E.M. (Edward Morgan)