ISLAMABAD: After losing over 200 points on the previous working day, the 100-index of the Pakistan Stock Exchange (PSX) turned a bullish trend on Monday while gaining 74.04 points, with a positive change of 0.11 percent. AT close the index settled at 64,890.51 points as compared to 64,816.47 points on Friday.
Meanwhile, on the first working day of the week, 211,758,341 shares valuing Rs.7.785 billion were entertained in the market against 59,373,019 shares valuing Rs.10.120 billion on the previous day.
In total, 313 companies traded their shares in the stock market, 149 of them recorded gains to remain in green, 160 met losses, while the share prices of 4 remained unchanged.
WorldCall Telecom remained the volume leader among the top-three trading companies with 16,605,737 shares at Rs.1.36 per share whereas Hascol Petrol settled as the runner-up with 16,267,000 shares with 8.28 per share followed by Telecard Limited with 14,676,033 shares at Rs9.00 per share.
Pakistan Hotels Developers Limited experienced a maximum appreciation of Rs.19.98 per share price to settle at Rs.499.98, whereas Pakistan Tobacco Company Limited settled as the runner-up with an increase of Rs.11.00 in its per share price to Rs.992.00.
Ismail Industries Limited recorded a maximum fall of Rs.60.00 per share closing at Rs.1,050.00, followed by Sapphire Fibres Limited with a decline of Rs.35.83 to close at Rs.1,506.67.
Bullish, Bearish Trend at Pakistan Stock Exchange
In recent months, the 100-index mostly witnessed bullish sentiments, where the market also enjoyed a historic bullish flow by getting about 60% in the last 7 months.
In general, the market crossed 4000 points during the last couple of months. In November 2023, the 100-index went bullish by 8000 points while during the last seven months, the market got over 24000 points.
Meanwhile, the 100-index surpassed several consecutive all-time highs recently. After having a number of records last November, the 100-index achieved the historic 60000 benchmark for the first time. The index continued the same bullish flow in the first quarter of December and till December 12 it achieved over 5000 points to reach over 66000 points.
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. Later the market turned bullish by over 2900 points followed by another historic bullish trend on a single day (1st January) to get over 2200 points. Later the market swung both ways to date.
