ISLAMABAD: After registering over 1200 points last Friday, the 100-Index of the Pakistan Stock Exchange (PSX) continued its bullish run as on Monday it gained 862.15 points further with a positive change of 1.20 per cent. At close the market settled at 72,764.24 points as compared to the previous day’s closing of 71,902.09 points.
On the first day of the fresh week, 578,388,643 shares valuing Rs 24.518 billion were entertained against the last day shares of 452,155,229 valuing Rs 24.542 billion.
In total, 389 companies traded their shares in the stock market, 258 recorded gains to remain in green, 108 went in red with losses, and the prices of 23 companies remained unchanged.
Pak Electron remained the volume leader among the top-three trading companies with 48,443,791 shares at Rs 25.13 per share followed by Fauji Cement with 40,362,811 shares at Rs22.44 per share whereas K-Electric Limited settled with 26,775,432 shares at Rs4.41 per share.
Sapphire Textile Mills Limited registered a maximum increase of Rs 84.42 per share to settle at Rs 1,274.22, whereas Unilever Pakistan Foods Limited settled as the runner-up with an increase of Rs 67.52 per share to close at Rs 19,447.50.
Hocchst Pakistan Limited recorded a maximum fall of Rs 66.13 per share to settle at Rs 1,233.87, followed by Sapphire Fibres Limited with a decline of Rs 30.25 per share to close at Rs 1,449.50.
Bearish, Bullish Trend at PSX
During the last couple of months, the 100-index tossed 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 get 24000 points.
Meanwhile, the 100-index got several all-time highs recently as the 100-index crossed the historic 66000 benchmarks for the first time in the first quarter of December 2023.
Meanwhile, from December 13, 2023, the index turned down while registering 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 more than 2500 points. Later the market turned bullish by over 2900 points followed by another historic bullish flow on a single day (1st January) to get over 2200 points. During the last two months, the market kept its bullish run 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 surpassed the 71000 barrier and then the 72000 benchmark.
