The Pakistan Stock Exchange (PSX) has seen a significant rise in companies reaching the $1 billion market capitalization milestone, jumping from just three firms two years ago to 15 today. This remarkable growth highlights renewed investor confidence and a strong market performance over the past couple of years.
Back in 2022, only three companies, OGDC, Nestle, and Colgate, had a market cap above $1 billion. By mid-2023, the exclusive group expanded as MEBL, MARI, UBL, and PPL joined the ranks.
This year, the list has grown to 15 firms, marking a fivefold increase in just two years. The latest entrant to cross the $1 billion market capitalization threshold is the National Bank of Pakistan (NBP), becoming the fifth listed bank to achieve this milestone.
The growing number of high-cap firms reflects an overall improvement in market sentiment and the resilience of Pakistan’s corporate sector despite broader economic challenges. Analysts believe the surge also signals that investors are regaining trust in the market, especially in the banking, energy, and FMCG sectors.
The increase in companies with billion-dollar valuations bodes well for capital market development and may attract further domestic and foreign investment into the PSX.