ISLAMABAD: After setting a record high last Thursday to cross 67000, followed by a two-day bearish trend, the 100-index of the Pakistan Stock Exchange (PSX) then turned bullish and continued till it reached a new record high on Thursday while gaining 660.75 points further with a positive change of 0.98 percent. At close the index settled at 68,416.78 points against the last day stand of 67,756.04 points.
On Thursday, 388,751,782 shares valuing Rs.17.882 billion were tackled against the last-day figure of 361,823,380 shares valuing Rs.11.901 billion.
For spot trading, 334 companies traded their shares in the stock market, 204 recorded gains, and 108 sustained losses, whereas the share prices of 22 remained unchanged.
Whereas for future trading, 307 companies transacted their shares in the market, out of which 183 recorded gains to remain in the green zone, 119 met losses whereas the share prices of 5 companies observed no change and remained constant.
During the trade, PIAC(A) remained the volume leader among the top-three trading companies with 47,200,500 shares at Rs.26.19 per share followed by Cnergyico PK with 29,719,327 shares at Rs.4.60 per share whereas Pak Petroleum settled with 21,170,581 shares at Rs.110.17 per share.
Hoechst Pakistan Limited recorded a maximum rise of Rs.49.50 per share price to settle at Rs.1,300.00, while Shahmurad Sugar Mills Limited closed as the runner-up with an increase of Rs.40.61 in its per share price to Rs.582.07.
Rafhan Maize Products Company Limited observed a maximum decline of Rs.80.00 per share closing at Rs.8,200.00, followed by Nestle Pakistan Limited with a fall of Rs.33.44 to close at Rs.7,566.89.
Bullish Trend Dominates Pakistan Stock Exchange
Recently, the 100-index oscillated both ways, with a dominant bullish flow, where the market crossed a couple of historic bullish slots by getting about 60% in the last 8 months.
Only in November 2023, the 100-index achieved over 8000 points whereas during the last seven months, the market crossed to achieve 24000 points.
Meanwhile, the 100-index got several consecutive all-time highs recently. After having a number of records, the market achieved the historic 66000 benchmark for the first time in the first quarter of December 2024.
However, from December 13, 2023, the index turned down while observing a significant decline first on 20th December (over 2300 points) and then on December 22nd (over 1100 points), again followed by a bloodbath on 26th December 2023, while going down by over 2500 points. Subsequently, the market turned up by over 2900 points followed by another historic bullish trend on a single day (1st January) to get over 2200 points. During the last few days, the market expedited its pace till it surpassed the new historic high of 67000 last Thursday (28th March), followed by another record high this Thursday to cross the 68000 benchmark.
