NEW DELHI: Pakistan’s stock market has outperformed the Indian equity market with a huge gap since the beginning of the new century.
Over the past 16 years, the MSCI Pakistan index climbed over 14 per cent in dollar terms on a compounded annual growth (CAGR) basis, while the MSCI India index has advanced 8.39 per cent annually during the same period, data available with Bloomberg showed.
The KSE100 index of the Karachi Stock Exchange rallied 2,625 per cent from 1,772 in January 2000 to around 48,300 in December 2016, while the Sensex of the BSE advanced 431 per cent in this period.
KSE100 tracks the performance of biggest companies by market capitalisation from each sector of the Pakistani economy listed on bourses.
On the hand, the 30 share Sensex jumped from 5,005 in December 1999 to 26,626 on December 30, 2016.
Among other emerging markets, the Chinese equity indices have underperformed both Indian and Pakistani equity markets since the year 2000. China’s Shanghai Composite index advanced 120 per cent to 3,103 till December 2016 from 1,406, where it was trading at in January 2000.
According to a Forbes report, published in September 2016, Pakistan is a frontier economy rather than an emerging.
Courtesy : TheNews