KARACHI: The Pakistan Stock Exchange (PSX) outperformed leading global stock markets such as India, China, and Hong Kong, Singapore, etc during the outgoing fiscal year, observed Economic Survey 2016-17.

The benchmark KSE-100 index recorded a growth of over 27 per cent during the first nine months of this fiscal year and ranked at the top of the list among some of the leading international and regional stock markets.

Bombay Sensex increased by only 9.7pc, MSCI Emerging Market Index improved by 14.9pc and MSCI Frontier Market Index rose 9.8pc.

The KSE-100 index, which stood at 37,783.54 level on July 1, 2016, gained 13,152 points and closed at 50,936 points on May 8, showing a growth of 34.8pc. Whereas its lowest point was at 37,966.76 on July 4, 2016.

Moreover, the average daily trading volume of 379 million shares during the July-March period witnessed a three-fold increase compared to the corresponding period last year.

During the period, the PSX mobilised funds amounting to Rs21.9bn, while the total listed capital of the market stood at Rs1.30 trillion. By contrast, total market capitalisation increased from Rs7,588 billion on June 30, 2016 to Rs10,044bn on May 8, a rise of 32.4pc.

As per the requirement of the demutualisation law, a deal for strategic sale of 40pc of PSX shares was completed in Dec 2016 and PSX sold shares to a Chinese-led consortium for $85.6 million.

NEW LISTINGS: The Securities and Exchange Commission of Pakistan accorded approval to three companies – TPL Properties Ltd for 56m shares; Loads Limited for 50m shares and Roshan Packages for 32.5m shares -- during the period.

MUTUAL FUNDS: Assets under the management of the industry stood at Rs694bn on March 31, showing an increase of Rs148bn from Rs546bn on June 30, 2016. Equity funds dominated the assets under management of the industry with the largest share of 48pc.

Published in Dawn, May 26th, 2017