Market Capitalization Of PSX Increased 20.09 %: PES

ISLAMABAD, (UrduPoint / Pakistan Point News - 10th Jun, 2021 ) :The market capitalization of the psx increased by 20.9 percent during July-March 2021 as compared to last year, according to Pakistan Economic Survey (PES).

The survey said that demand for stocks of Technology and Communication (T&C) sector spurred in the current pandemic.

Work from home model accelerated the digital revolution. In addition, the listing of TPL Trakker also increased the market capitalization T&C.

Prime minister's construction package has clearly boosted demand for Engineering and Cement sectors.

The share price of Lucky Cement has jumped by 70 percent since 1st July 2020. The Engineering sector witnessed an IPO this year of Agha Steel Industries that may have contributed to its growth.

The benchmark KSE-100 index improved from 34,889.41 points to 44262.35 points, during the period of July 2020 to April 2021 as compared to last year survey added.

During this time, the Index closed at its highest point of 46,933.

63 on February 3, 2021, before the third wave of COVID-19 dragged it down. As of April 30, 2021, number of listed companies stood at 532, with total market capitalization of Rs 7,718 billion.

The turnover in shares reached its peak in January 2021, indicating that investors were actively investing in the market.

The market activity slowed down after February 2021as the third wave of COVID-19 intensified.

The distinguishing feature of this year is the significant number of IPOs that took place.

It implies that companies are confident about business prospects.

The average daily shares volume has been higher this year compared to previous year, suggesting that more buyers and sellers are there in the market which makes it is easier and faster to execute a trade. On 27th May 2021, PSX witnessed an all-time high daily trading volume with 2.21 billion shares traded in a single session.