Type Stock Exchange Currency Pakistani Rupee | Location Karachi, Pakistan | |
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Founded August 14, 1947; 69 years ago (1947-08-14) Owner Pakistan Stock Exchange Limited Key people Nadeem Naqvi, managing director |
The Karachi Stock Exchange Limited (KSE), was a stock exchange located at the Stock Exchange Building (SEB) on Stock Exchange Road, in the heart of Karachi's Business District, I. I. Chundrigar Road, Karachi, Sindh Province of Pakistan. It is now incorporated in the Pakistan Stock Exchange along with the other two bourses of Pakistan, the Lahore Stock Exchange and the Islamabad Stock Exchange It is Pakistan's largest and one of the oldest stock exchange in South Asia by market capitalization, with many Pakistani consortium as well as overseas enterprises listings.
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According to Bloomberg, the Pakistani benchmark stock market index is the third-best performer in the world since 2009. In June 2015, Khaleej Times reported that since 2009, the Pakistani equities delivered 26 percent a year for US dollar investors, making Karachi the best-performing stock exchange in the world.
With effect from January 11, 2016 the Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange were integrated under the Stock Exchanges (Corporatisation, Demutualization and Integration) Act, 2012 to form the Pakistan Stock Exchange Limited as the only stock exchange in Pakistan.
History
Founded on September 18, 1947, Karachi Stock Exchange Limited (KSE) is the exchange in Pakistan. It was declared the "Best Performing Stock Market of the World for the year 2002", the position again re-affirmed by the Prime Minister of Pakistan in January 2015. However, according to analysis by Bloomberg, Pakistan ranked third in 2014 amongst the Top Ten Best Performing Markets in the world. A total of 654 companies were listed on December 8, 2009 with a market capitalization of Rs. 8.561 trillion (US$120.5 billion) having listed capital of Rs. 2805.873 billion (US$40.615 billion). The KSE-100 Index closed at 11,967 on May 16, 2011. Total market capitalization of the PSX reached Rs 2.95 trillion (US$35 billion approximately) on July 30, 2011. As on July 10, 2015, total market capitalization reached Rs. 7.33 trillion (US$72 billion approximately).
Friday
The hours of operation for the PSX quoted above are stated in terms the local time (GMT + 5:00). PSX's normal trading sessions are on all days of the week except Saturday, Sundays and holidays declared by the Exchange in advance. On Friday, there are two trading sessions and PSX observe Friday prayer break in between.
2008 and 2009 Pakistan Stock Exchange Crisis
Disputes
Disputes between investors and members of the Exchange are resolved through deliberations of the Arbitration Committee of the Exchange.