External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Pakistan Equities outperformed major asset classes in 2024. The benchmark KSE 100 Index provided a gain of 75% (Jan 01, 2024 till Dec 20, 2024) with 6 trading sessions left in 2024. This gain is inclusive of dividends received during this period.</li><li>Gold has also posted a decent gain, recording the third-largest increase. In 2024 it gained from Rs189,386/10 grams to Rs234,311/10 grams providing a profit of 24%. In international market it also increased from US$2,092/ounce on Dec 29, 2023 to US$2,617/ounce on Dec 20, 2024.</li><li>Another favourite investment for local Pakistanis has been US Dollar in last few years. In 2024 it provided a negative return of 1% declining from Rs282 to Rs278 in the interbank market compared to return of 24% and 28% in 2023 and 2022, respectively. However, if this amount had been invested in a 1-year term deposit at the beginning of the year, the gain would have been 1-4%, assuming a return of 2-5% on US Dollar deposits.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan Equities outperformed major asset classes in 2024. The benchmark KSE 100 Index provided a gain of 75% (Jan 01, 2024 till Dec 20, 2024) with 6 trading sessions left in 2024. This gain is inclusive of dividends received during this period.Gold has also posted a decent gain, recording the third-largest increase. In 2024 it gained from Rs189,386/10 grams to Rs234,311/10 grams providing a profit of 24%. In international market it also increased from US$2,092/ounce on Dec 29, 2023 to US$2,617/ounce on Dec 20, 2024.Another favourite investment for local Pakistanis has been US Dollar in last few years. In 2024 it provided a negative return of 1% declining from Rs282 to Rs278 in the interbank market compared to return of 24% and 28% in 2023 and 2022, respectively. However, if this amount had been invested in a 1-year term deposit at the beginning of the year, the gain would have been 1-4%, assuming a return of 2-5% on US Dollar deposits.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Strategy–Asset Class Returns of Pakistan in 2024; Equites Outperformed Other Asset Classes