Karachi:
The year 2024 proved to be a historic year for the Pakistan Stock Exchange (PSX), with unprecedented milestones and outstanding returns for investors.
With record-breaking performance, the stock market not only achieved historic benchmarks but also rewarded investors with substantial returns, culminating in a year of extraordinary success.
During 2024, PSX set several records never before achieved in its history. This year capital market investors got an extraordinary 80% return on investment.
For the first time the market crossed the 100,000 points milestone. However, this success came after years of challenges faced by investors, especially during the Pakistan Tehreek-e-Insaf (PTI) government.
The PSX 100 index recorded a phenomenal year-to-date gain of 52,807 points. The index, which opened at 62,451 points on January 1, rose to an all-time high of 115,258 points by the end of the year. The total value of shares increased by an impressive PKR 5.495 trillion during this period.
Record-breaking performance amid challenges
In 2024, foreign investors sold $120 million worth of shares, removing significant capital from the market. Despite this pressure, the PSX has shown remarkable resilience, continuing its upward trajectory.
However, the unexpected and unusual growth gave rise to fears and apprehensions, resulting in extraordinary volatility in December.
Two trading sessions in December highlighted this volatility. In one session, the PSX recorded a historic single-day gain of 4,700 points.
In contrast, another session saw a record-breaking single-day decline of 4,800 points, indicating growing uncertainty in the market.
New listings and industry developments
The year also saw nine new companies, in sectors such as finance, pharmaceuticals, food, textiles, and transport, list on the PSX, offering shares to the public and expanding investor opportunities. However, Pak Suzuki Motors bought back its shares and delisted itself from the stock market.
According to Farrukh Sabzwari, CEO of PSX, the outstanding performance of the stock market was due to macroeconomic stability, which helped PSX achieve unprecedented heights. Addressing. The Express Tribunehe highlighted that investors will get 80% of profits in 2024 through the capital market.
Sabzwari shared additional insights, saying that 2024 saw five initial public offerings (IPOs) and six new company listings, raising PKR 8.4 billion through IPOs. On a monthly basis, the market saw an influx of 7,000 to 7,500 new investors.
Outlook for 2025
Looking ahead, Sabzwari emphasized plans to expand the investor base through awareness campaigns and focus on fintech and startups in 2025. He hoped to continue this momentum and drive further growth in the capital market.
Having set a new benchmark for success in 2024, PSX now aims to sustain its success and expand its role as a key driver of economic growth in Pakistan.