Today on 11 January 2015 is the first day of Pakistan stock exchange PSX which means that now Karachi stock exchange KSE, Islamabad stock exchange ISE and Lahore stock exchange LSE are merged to make one market which is PSX.
If we talk about the history of Karachi stock exchange (KSE), is founded on 18 september 1947 and present in the heart of Karachi city. At that time it is the only one exchange in Pakistan. It is the largest and one of the oldest exchange stock exchange of south asia. Then in 2002 Karachi stock exchange (KSE) is declared best performing market of the world. In January 2015 Prime Minister of Pakistan Mian Muhammad Nawaz Sharif said that KSE is the one of world's best performing market if we just look at 1.5 years back KSE 100 index is at 19 thousand level now currently at above 34.5 thousand level. In 2015 Karachi stock exchange (KSE) is also listed among top 10 stock exchanges of the World.
Number of listing companies at KSE is approximately 559 with the market capitalization of 75.1 billion dollars.
Now if we talk about Lahore stock exchange (LSE), it came into existence in the month of october in 1970. It is the largest market after karachi stock exchange (KSE). It is located in Lahore city.
Number of listed companies at LSE is approximately 600 companies.
IF we talk about Islamabad stock exchange ISE it is the youngest capital market of Pakistan, and is located at capital city of Pakistan. on 25 october 1989 ISE is formed but licensed is given on 7 january 1992 to operate and trading is start on july 1992. The number of listed companies are approximately 261.
Purpose of Scheme of Integration:
The main purpose of integration is to increase liquidity in the stock exchange and increase the shareholders value.
To increase competition is also one of the main cause of formation of Pakistan stock exchange (PSX) and reduce anti competition concerns. It is like now an investor has access at national level exchange and reduce the monopoly of brokerage houses.
Our Opinion:
In our opinion it is good for the financial market of Pakistan. Now at such large level no one has ability to rule market like moves up and down on their own moods.
As Pakistan is moving forward so these steps show world Pakistan is a save place for investment. Now factor of terrorism is also eliminated to an extent by Pakistan Arm Forces which is a good sign for Pakistan stock exchange (PSX).
At the end let's pray that Pakistan stock exchange (PSX) moves forward and attract foreign direct investment from different countries and become number 1 stock market in the world Insha Allah.
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