ISLAMABAD: After depreciating for two consecutive days by over 160 points, the 100-Index of the Pakistan Stock Exchange (PSX) bounced back to the bullish trend on Thursday and gained 56.24 points with a slight positive change of 0.08 percent. At close the index settled at 72,658.05 points compared to the last day closing of 72,601.82 points.
On Thursday, 674,981,699 shares valuing Rs 24.053 billion were entertained against the last ay shares of 970,325,029 valuing Rs 23.514 billion.
In total, 376 companies traded their shares in the stock market, 218 of them recorded gains, and 126 met losses, whereas the price of 32 companies remained unchanged.
WorldCall Telecom remained the volume leader among the top-three trading companies with 175,149,131 shares at Rs 1.51 per share followed by Pak Electron with 40,246,675 shares at Rs 27.55 per share whereas K-Electric Limited settled with 31,255,935 shares at Rs 4.69 per share.
Unilever Pakistan Foods Limited registered an appreciation of Rs 194.80 per share price to settle at Rs 19,189.98, whereas Ismail Industries Limited settled as the runner-up with an increase of Rs 89.95 to close at Rs 1,289.29.
Bhanero Textile Mills Limited witnessed a maximum decline of Rs 63.39 per share closing at Rs 996.61, followed by Hallmark Company Limited with a fall of Rs 62.90 to close at Rs 775.72.
Bearish, Bullish Trend at Pakistan Stock Exchange
During the last couple of months, the 100-index swung both ways, with a leading bullish trend while setting a number of records on high, by getting about 60% in the last 8 months including the last one.
Only in November 2023, the index got over 8000 points while during the last seven months, the market managed to achieve over 24000 points.
In addition, the 100-index reached several all-time highs recently as the market crossed the historic 66000 benchmark for the first time in the first quarter of December 2023.
Meanwhile, from December 13, 2023, the index turned down while witnessing a major 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 losing over 2500 points. Later the market turned down by over 2900 points followed by another historic bullish run on a single day (1st January) to get over 2200 points. During the last two months, the market kept its bullish flow till it crossed the new historic high of 67000 on 28th March, followed by the 70000 mark in early April. In the last couple of weeks, the market first crossed the 71000 barrier and then the 72000 benchmark.
