In 2024, companies listed on the Pakistan Stock Exchange (PSX) achieved remarkable financial success, with total income reaching Rs1,700 billion—an impressive 25% increase from the previous year. This surge in earnings has resulted in substantial returns for shareholders, as detailed in the annual research report.
The report emphasized the outstanding performance of PSX-listed firms, which reported record revenues and profits. Notably, the banking, fertilizer, and cement sectors led the way, showcasing the highest growth in income. In terms of profit distribution, these companies disbursed an astonishing Rs666 billion in dividends to shareholders, reflecting a 30% rise in payouts compared to 2023.
Additionally, after-tax profits for listed companies grew by 10%, totaling $5.8 billion for the year. This robust performance highlights the resilience and growth of Pakistan’s corporate sector, even amidst challenging global economic conditions. Recently, Bloomberg recognized the PSX as the best market in the world for 2024, coinciding with a significant uptick in foreign investment.
According to Bloomberg, the KSE-100 Index of the PSX saw the highest levels of foreign purchases in a decade, with foreign investors acquiring shares worth an impressive $8.7 million in 2024 alone. The PSX is currently experiencing a strong upward trend, particularly with the IMF’s Executive Board set to discuss a potential $7 billion bailout package for Pakistan next week, which is expected to boost dollar inflows into the country.
On Wednesday, the PSX kicked off the week with a bullish momentum, as the KSE-100 Index surged by 428 points, reaching an all-time high of 81,912 during intraday trading. The positive market sentiment was evident from the start, with the index initially climbing by 251 points to trade at 81,735.
