Tuesday, May 28, 2024

Pakistan Stock Market Emerges as Top Performer in 2023, Outpacing Major Asset Classes

After experiencing a prolonged bearish trend, the stock market in Pakistan has re-emerged as the highest return provider in 2023, outperforming all major asset classes, according to a research note released by Topline Securities Ltd.

The benchmark of major shares listed on the Pakistan Stock Exchange recorded a remarkable gain of 53%, including dividends, in the outgoing year until December 22. This robust performance marks a significant turnaround for the stock market, which faced bearish conditions in the preceding years.

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The analysis by Topline Securities examined the average returns across 12 asset classes in 2023. The stock market's strong performance was followed by the dollar-denominated Naya Pakistan Certificate under the Roshan Digital Account scheme, providing investors with a 33% return in rupee terms due to the depreciation of the local currency against the dollar.

Real estate emerged as the third-best asset class, with average prices of houses, residential, and commercial plots in Karachi rising by 6-29% in 2023, as reported by real estate portal Zameen.com.

Other notable asset classes include the dollar, which produced a return of 25% in 2023, treasury bills with a 23% gain amid record-high interest rates, and gold, providing an 18% annual profit.

Investors, seeking fixed-income and low-risk options, turned to avenues such as bank saving rates (17%), National Savings Special Savings Certificate (13%), and money market funds offered by local asset management companies (20%) in 2023.

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For the most recent updates, don't forget to follow us on Twitter @Headline_pk. You can also find us on Facebook, Instagram, and YouTube.

 

 

Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.
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