Pakistan 1991…2000
	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000
P/E RATIO	23.9	21.9	27.6	23.3	15	11.7	14.8	7.6	13.2
P/BV	3.1	2.5	4.2	3.5	2.2	1.5	2.3	0.9	1.4	1.4
DIV YIELD %	1.9	2.5	1.5	1.6	2.4	3.2	3.2	13	5.7	6.2
According to above table (source:Standard and poors emerging market database) pakistan stock market during the period 1991-2000 attained its highest
valuation in the year 1993 measured on the three parameters of pe ratio, price book value ratio and dividend yield. Minimum sample of 50 stocks were taken
each year to arrive at the average values of the three parameters. The market would touch its historical peak based on above valuation measures when the
averages of the market touches the 1993 values. This is a pe multiple of 27.6, p/bv ratio of 4.2, and dividend yield of 1.5%.