Shares’ value surges 39pc in 2023

With the last trading session remaining, the benchmark of major shares listed on the Pakistan Stock Exchange went up 54 per cent in rupee terms during 2023 while the total value of all shares surged 39pc to Rs9 trillion. The best performing sectors in the outgoing year were refinery, chemical and power generation with a respective increase in their market capitalisation of 88pc, 73pc and 65pc, according to an analysis of year-long data by Topline Securities Ltd on Thursday. In contrast, property, modarabas and textile spinning remained the worst performing sectors as they posted declines of 24pc, 11pc and 7pc, respectively. The refinery sector posted a strong performance, which was driven by the expectations about the refinery policy. The chemical sector also exhibited a strong trend led by Colgate-Palmolive Pakistan Ltd, which announced bonus shares leading to a 147pc increase in the firm’s market capitalisation in 2023.