In 2020, the technology sector was the best performing sector in the Pakistan Stock Exchange (PSX), according to KASB Securities’ research wing. The technology companies rallied 506 per cent when compared with the KSE-100 index which went up by only 48 per cent.
KASB securities on the launch event of its technology index said, “the technology stocks will continue to rally in 2021.”
The KASB Technology Index will track the share prices of five technology companies which include TRG, Systems, Netsol, Avanceon and TPL Trakker. The market cap of these five companies is $ 1.19 billion of PSX’s total market cap.
The KASB Tech Index is at 404.82 points and up by 42 per cent from three months back. Currently, the PSX’s data disclosure includes the tech sector in media and telecommunications and analysts at KASB securities believe that it can be established as an asset class.
“We expect that there will be more IPOs of technology companies this year and the sector will continue to gain share, just like it has happened in most other markets,” the analysts said.
Majorly, the interest in buying has come from the individual investors and global funds but now the local domestic investors are also looking at it keenly.