KARACHI: The Karachi Stock Exchange (KSE) provided return of 13.75 per cent to the investors during the first ten months (July-April) of 2014-15, the economic survey showed on Thursday.
The return is based on the gain of 4,077 points in benchmark KSE-100 index, which closed on April 30 this year at 33,730, up from 29,653 points on June 30, 2014.
“The significant performance of the bourse”, the survey said, was despite political turmoil during the first half of this fiscal year and attributed to a number of positive factors including a stable macroeconomic environment, relative stable exchange rate, acceleration in the privatisation process, downward inflationary trend, prudent monetary policies and strengthened economic growth.
Market capitalisation saw addition of Rs283 billion (4.03pc) to Rs7,305.81bn on April 30, from 7,022.70bn on June 30, 2014.
The combined paid-up capital of fifteen big companies amounted to Rs190.24bn, which constituted 16.15pc of the total listed capital at the KSE.
In regard to comparative regional markets’ performance, China Shanghai Composite Index was up 117pc; Japan Nikkei higher by 28.7pc and Hong Kong Hang Seng added 21.3pc, all of which were ahead of KSE which nonetheless outperformed India’s Sensex gain of 6.3pc; US S&P higher by 6.4pc and UK FTSE up by 3.2pc during the period under review.
The survey mentioned that for calendar year 2014, Pakistan bourse had provided return of 27pc, which placed it on the third spot amongst ‘top 10 best performing markets in the world’.
The year 2014 was also the third consecutive year for KSE to have secured a place among worlds’ 10 top markets.
During July-Dec 2014, five debt securities were issued which included two domestic sukuk amounting to Rs26bn, one international sukuk of Rs100bn and two privately placed term Finance Certificates amounting to Rs6bn, the survey mentioned.