A source familiar with the situation said that the actual number of investors engaged in trading at the market is even less.
“From July 1, 2014 to Jan 1, 2015 the number of investors who submitted the Capital Value Tax (CVT) statements stood at just around 100,000,” said a stock broker.
Compared with that the number of equity investors in neighboring Iran stands at a mammoth 40 million and in China 100m.
Therefore, the Pakistan stock market climb up has generated more money for the few and the trickle down effect may not really be visible, said one observer.
Last week, the stock market registered an increase for the fourth consecutive week resulting in the benchmark KSE-100 index gaining another 461 points (1.4%) to close at a new all-time high of 33,786.
Eyes are now on another milestone of 34,000 points mark as the prevailing market tendency points to this direction.
The latest gains meant that the index has climbed 2,774 points (8.9%) in the last 30 days in an impressive rally which has pushed the index to new highs.
How that will translate into optimism for the common man is any body’s guess, said the observer.
According to Bloomberg, Pakistan ranked third in 2014 amongst the Top Ten Best Performing Markets in the world. Also, Pakistan has been able to secure a place amongst the Top Ten for the third consecutive year now. Moreover, in the MSCI Asian Frontier Markets, Pakistan ranked number one – outpacing Sri Lanka, Vietnam and Bangladesh by a big margin. —MAMOSA Report