ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued its bullish trend for the past three days. On Wednesday, it gained 641.51 points, marking a positive change of 0.97 percent. At the close, the index settled at 66,547.79 points compared to the previous day’s figure of 65,906.28 points.
A total of 354,597,630 shares, valued at Rs. 11.884 billion, were traded, an increase from the previous day’s 303,710,027 shares valued at Rs. 12.078 billion. In total, 346 companies traded their shares, with 179 recording gains, 152 incurring losses, and 15 remaining unchanged.
Lotte Chemical led in trading volume among the top-three trading companies with 42,831,026 shares at Rs. 19.53 per share, followed by Telecard Limited with 29,177,124 shares at Rs. 9.24 per share, and PTCL with 24,701,735 shares at Rs. 17.31 per share.
Noteworthy market movements included Nestle Pakistan Limited recording a maximum rise of Rs. 235.00 per share to settle at Rs. 7,635.00. Shahmurad Sugar Mills Limited followed with a Rs. 31.38 rise in its share price to Rs. 472.00.
Conversely, Rafhan Maize Products Company Limited observed a maximum decline of Rs. 240.00 per share, closing at Rs. 8,050.00, while Sapphire Fibres Limited fell by Rs. 106.50 to close at Rs. 1,476.00.
Bullish, Bearish Trend at PSX
Recently, the 100-index swung both ways, with dominant bullish flow, where the market also reached a historic bullish point by getting about 60% in last 7 months.
Only in November, 2023, the 100-index got more than 8000 points while during last seven months the market crossed 24000 points.
Meanwhile, the 100-index crossed several consecutive all-time high recently. After having a number of records, the 100-index achieved the historic 66000 benchmarks for the first time in the first quarter of December 2024.
However, from December 13 the index went bearish with a major decline on 20th December (over 2300 points) and 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. Later the market oscillated both way between 63000 and 66000.
