ISLAMABAD: After observing an all-time high in the last week, followed by a correction of over 130 points, the 100-index of the Pakistan Stock Exchange (PSX) continued the bearish mood on Monday and lost 208.79 points further with a negative change of 0.31 percent. At close the index settled at 66,796.32 points as compared to 67,005.11 points on Friday.
Meanwhile, on the first day of the week, 238,829,562 shares valuing Rs.8.365 billion were entertained against 313,035,305 shares valuing Rs.9.899 billion the previous day.
In total 335 companies tackled their shares in the stock market, 139 of them recorded gains to remain in green, 176 sustained losses, whereas the share prices of 20 remained unchanged.
PIAC (A) remained the volume leader among the top-three trading companies with 39,967,500 shares at Rs.29.28 per share followed by Agritech Limited with 31,101,500 shares at Rs.28.33 per share whereas PTCL settled with 21,231,631 shares at Rs.16.94 per share.
Rafhan Maize Products Company Limited recorded a maximum appreciation of Rs.75.00 per share price to settle at Rs.8,250.00, whereas Hallmark Company Limited closed as the runner-up with an increase of Rs.34.42 in its per share price to Rs.536.47.
Sapphire Fibres Limited witnessed a maximum decline of Rs.95.00 per share closing at Rs.1,405.00, followed by Mari Petroleum Company Limited with a fall of Rs.19.48 to settle at Rs.2,517.51.
Bearish, Bullish Nexus at Pakistan Stock Exchange
Recently, the 100-index moved both ways, with a dominant bullish flow, where the market reached a couple of historic bullish slots by getting about 60% in the last 8 months.
Only in November 2023, the 100-index got over 8000 points while during the last seven months, the market surpassed 24000 points.
Meanwhile, the 100-index crossed 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 bearish again and observed a significant fall 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.
