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History
Karachi Stock Exchange is the biggest and most liquid exchange in Pakistan. It was
declared the “Best Performing Stock Market of the World for the year 2002”. As of Dec
8, 2009, 654 companies were listed with a market capitalization of Rs. 2.561 trillion (US$
30.5 billion) having listed capital of Rs. 705.873 billion (US$ 10.615 billion). The KSE
100TM Index closed at 9645.71 on June 19, 2010.By 30 july total market capitalisation
of the KSE reached Rs2.95 trillion,approximately 35 billion dollars.
Business
[edit] Trading
The exchange has pre-market sessions from 09:15am to 09:30am and normal trading
sessions from 09:30am to 03:30pm. [2] The karachi stock exchange has undergone a
considerable deal of downturn partly due to global financial crisis and partly on account
of domestic troubles. It remained suspended in excess of 4 months and resumed normal
trading only on December 15, 2008. The KSE 100 Index and KSE 30 Index after hitting
the low around mid January has now rebounced and recovered 20-25% till March 12,
2009. By 30 july 2010 total market capitalisation of the KSE reached Rs2.95
trillion,approximately 35 billion dollars.
[edit] 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 reached its highest value ever and 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 has recently (2007) announced plans to
construct a 40 story high rise KSE building, as a new direction for future investment.
Disputes between investors and members of the Exchange are resolved through
deliberations of the Arbitration Committee of the Exchange.
KSE began with a 50 shares index. As the market grew a representative index was
needed. On November 1, 91 the KSE-100 was introduced and remains to this day the
most generally accepted measure of the Exchange. Karachi Stock Exchange 100 Index
(KSE-100 Index) is a benchmark used to compare prices overtime, companies with the
highest market capitalization are selected. To ensure full market representation, the
company with the highest market capitalization from each sector is also included.
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. On August the 29th, 1995 the KSE all share
index was constructed and introduced on September 18, 1995.