KARACHI: Pakistan Stock Exchange - declared as best performing market in Asia, has been resilient to attract the investors by witnessing the highest trading volumes in recent weeks.
The PSX on Thursday recorded the 15-year highest trading volumes which reflect that investors especially retail investors' interest in market, which would subsequently expand the investor base.
Interestingly the PSX crossed the volume of one billion shares traded in a single day on ready and future markets on Wednesday. The total volumes witnessed were 1.015 billion shares including 837.022 million shares traded in the ready market and 153.726 million shares traded in the futures market.
The last time such trading volumes were witnessed some 11 years ago. Moreover, in August, 2020, the total volume traded on the system of the Exchange was 12.850 billion shares, which is the second highest volume traded in a month since the year 2003.
The PSX has become the best performing market in Asia and one of the top performing markets in the world as it is up by 30 percent since March 2020. This is a huge endorsement and sign of confidence in the market by the investor community at large, the market participants said. It also shows that the economic indicators are on the right track to give the much needed boost to the capital market, they added.
This is in addition to the news that PSX has once again become Asia's best performing market and the fourth best performing market in the world.
According to international financial markets research firms, the Pakistan Stock Exchange is Asia's best performing market, up by 30 percent since March 2020, adding to its credibility and soundness as a platform providing one of the best investment vehicles in the world today. "Thanks to faster than expected economic recovery led by falling COVID19 cases and government stimulus (low interest rate)," Muhammad Sohail, a leading analyst and CEO of Topline Securities said. "Market is still down 20 percent from its 2017 peak," he added.
Copyright Business Recorder, 2020
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