Pakistan Stock Exchange (PSX) has been ranked 5th best performing stock market in 2016.
Bloomberg in its ranking report titled “Performing Assets of 2016” has declared PSX 5th best-performing exchange and Asian firs best-performing.
The 100 Index gained 14,990 points during the year and closed at 47,806. But the handsome run was not the best in the world. Brazil’s IBOVESPA INDEX topped “the best performing indices” list for the year.
Yet PSX generated above average gains in the outgoing year 2016. Benchmark total return KSE-100 Index gained 46 percent (45 percent in US$ terms) in 2016 compared to last 10-year average return of 20 percent. Among Asian markets, Pakistan remained on top. Moreover it also remained No 1 in MSCI Frontier Markets.
A total number of 70 Billion shares exchange hand valuing Rs 2.83 trillion, Average volumes increased by 14 percent to RS 281 million whereas average value was up only 2 percent to Rs 11.6 billion in 2016.