KARACHI: The Pakistan Stock Exchange (PSX) is witnessing a strong bull run, with the number of listed companies valued at over USD 1 billion rising to 11, up from just 6 in December 2023.
The development reflects growing investor confidence amid improved macroeconomic indicators and a stable political outlook.
Topping the list is Oil and Gas Development Company (OGDC), which now boasts a market capitalization of USD 3.35 billion, nearly doubling in value over the past six months.
Additionally, four companies have now crossed the USD 2 billion mark: OGDC, Mari Petroleum (MARI), United Bank Limited (UBL), and Meezan Bank Limited (MEBL). The inclusion of two major banks in this elite group signals renewed optimism in the financial sector, which has benefitted from improved profitability and better asset quality in recent quarters.
Several other prominent names have also crossed the USD 1 billion threshold. Fauji Fertilizer Company (FFC) stands at USD 1.94 billion, while Lucky Cement has climbed to USD 1.84 billion. Pakistan Petroleum Limited (PPL) is valued at USD 1.64 billion.
MCB Bank holds a market cap of USD 1.19 billion, Colgate Pakistan at USD 1.14 billion, Nestlé Pakistan at USD 1.12 billion, and Pakistan Tobacco Company (PTC) at USD 1.08 billion.
Analysts say the sharp uptick in valuations points to increased foreign and local investor activity, driven by expectations of monetary easing and continued economic reforms.
