Number of billion-dollar companies rises at Pakistan Stock Exchange

A new record has been set at the Pakistan Stock Exchange (PSX) at the start of the New Year as the market capitalization of the PSX crossed the Rs20 trillion mark on Saturday after more companies worth billions of dollars formed in the stock market, reported 24NewsHD TV channel.

Pakistan’s 19 companies have the market value of over $1 billion, while seven large companies have just joined the group of over $2 billion.

Muhammad Sohail, an economic expert, said that bullish trend had been witnessed at the PSX at the start of the New Year. “The 100 Index has crossed the 179,000 benchmark,” he added.

He further said that in 2023, there were only three companies in the country whose value was $1 billion.

Sohail informed that the UBL had kept up its superb performance by attaining the value of over $4 billion. “Now it has joined the group of companies like OGDC,” he said, adding that the number of firms had increased courtesy increasing confidence of the investors.

Reporter: Ashraf Khan