ASTANA, Kazakhstan, August 2. The capitalization of Kazakhstan's stock market soared to 36 trillion Kazakh tenge ($81.09 billion) as of July 1, 2023, Trend reports.
According to Kazakhstan's Agency for Regulation and Development of the Financial Market, this figure is 0.5 trillion tenge ($1.1 billion), or 1.4 percent more compared to the previous month.
The market capitalization of stocks saw an increase of 2.2 percent, equivalent to 0.5 trillion tenge ($1.1 billion), bringing the total to 22.9 trillion tenge ($51.5 billion). This 8 percent increase since the start of 2023 was primarily driven by the rising prices of shares in prominent index companies.
In June 2023, the KASE (Kazakhstan Stock Exchange) index witnessed an uptick of 3.2 percent, reaching 3,604.8 points. Throughout the year, the index has seen substantial growth, achieving an increase of 10.9 percent.
As of July 1, 2023, the trading lists of the KASE comprised 101 stock names from 87 issuers. The trading volume of stocks in June 2023 amounted to 9.5 billion tenge ($21.4 million). However, it experienced a decline of 70.8 percent, or 23.1 billion tenge ($52 million), in comparison to the previous month, primarily due to reduced trading volumes of shares in Ai Karaaul, KazMunayGas National Company, and SK Sinoasia B&R.
The KASE Index is the ratio of included market prices for representative list shares at the list development date to these list share prices at a certain date, weighted on capitalization considering free-floating shares.
