 Bismillah, we have been talking about globalization and its various dimensions. In that particular context, today we are going to talk about globalization and growth of equity markets. When we look at this phenomena, then we see that a vital dimension of the increasing financialization of the world economy is the growth of capital markets. Especially the vast growth of equity markets has contributed more to it. In equity markets, fertility has been experienced at its furthest extremities. So again, we have seen that these markets are very volatile. We see a lot of in swings and out swings and we see the market sometimes being bearish or sometimes bullish. And again, a lot of unpredictability taking place because of the global economy and the various uncertainties. And again, in the context of COVID, in the context of different other medical pandemics and then again due to the shortage of various supplies, global supplies, a particular example could be the chip and that chip not being available has affected nearly every sector wherever microchips are basically applied because of the shortage of those particular chips. Or it could be another thing because we now talk about digitalization and screenization whereby screens are nearly applied to everything and then the shortage of screens also the shortage of good screens. So all of those things have their own issues which are related to the prospects of globalization, but more so again equity, how that equity is generated, where that equity is invested and then what type of market volatility tends to exist and therefore ensuring that despite the fact that there is an internationalization and standardization, but yet the extremities are being touched in this time of uncertainty. The American zone markets were propelled from a total of 4,000 billion in 1990 to over 22,000 billion. This onward progress was violently punctuated by the market collapse of 2001-2002 whereby the market fell from 16,450 market billion capitalization to 11,931 capitalization in a span of about one plus years, which again was phenomenal and wiped out many organizations and individuals. So this is what we see in this particular volatility. The European zone markets grew from just over 2,000 billion 1990 to 15,000 plus billion. We see this huge growth taking place. Market capitalization in Asia Pacific zone grew more steadily, but from 4,000 to about 11,800 billion dollars. So we've seen the expansion of markets both internationally and even on a national front we've seen that how these markets have grown in the Pakistan exchange. And another factor which is affecting all of this is now the cryptocurrency and the cryptocurrency again at one time we see that the Bitcoin reached nearly $70,000, but then in the past weeks fell down suddenly to below $15,000 and now again it's gone back to about $22,000. But this is the volatility which tends to exist and we see that the capitalization basically vanquished about $1 trillion. And again institutions like Tesla who had invested into it had its own impact and that then had a repercussion effect on the stock exchange. So all of this is intertwined with each other and we see that these fluxes have its own extremities and its own unpredictability. Growth around the world is revealed by the true value of share trading. The supremacy of the New York Stock Exchange is very apparent and we see that all stock exchanges basically look towards the NYSC. And what we see is when it goes up then the rest of the stock markets also go up and when it goes down the S also tend to go down. So there was a great dominance of the New York Stock Exchange across the world and this itself is the globalization of equity markets. And we have to be very vigilant and ensure that through better structuring, through better projections, through better analytics and through better investments the equity markets remain stable rather than volatile. We tend to move forward and equity finance has proved useful at the time of public listing. In public listing entrepreneurs and venture capitalists cash in their original investment as a means of acquiring other companies, equity finance is used much less frequently during restructuring or to finance new product or project development. So again what we see is that the equity finance is not used for restructuring but more so to finance new products or project development. And again in restructuring what we see is that there is lesser productivity and lesser performance and lesser rate of return on investment. The ROI is far lesser so therefore equity finance is more focused towards financing new products or new project development which tends to be more lucrative in the short and the long run. Thank you so much.