ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued with a bullish trend on Monday, gaining 373.82 points with a positive change of 0.57 percent. At close the index settled at 65,525.65 points as compared to 65,151.83 points last Friday.
On the first week of the day, 261,194,334 shares valuing Rs.8.945 billion were entertained against 208,408,686 shares valuing Rs. 7.149 billion the previous day.
In total. 332 companies traded their shares in the stock market, 144 of them recorded gains and 168 met losses, while the share prices of 20 remained unchanged.
P.T.C.L remained the volume leader among the top-three trading companies with 27,177,895 shares at Rs.15.70 per share followed by Hascol Petrol with 21,377,000 shares at Rs 8.08 per share and K-Electric Limited with 20,911,495 shares at Rs.4.57 per share.
Nestle Pakistan Limited recorded a maximum appreciation of Rs.200.00 per share price to settle at Rs.7,400.00, whereas Sapphire Fiber Limited settled as the runner-up with an increase of Rs.24.39 in its per share price to Rs.1,495.00.
Rafhan Maize Products Company Limited recorded a maximum decline of Rs.199.89 per share closing at Rs. 8,200.11, followed by Sapphire Textile Mills Limited with a decline of Rs.45.17 to close at Rs.1,479.83.
Bullish, Bearish Trend at PSX
Recently, the 100-index oscillated both ways, with a dominant bullish trend, where the market also reached a historic bullish point by getting about 60% in the last 7 months.
Only in November 2023, the 100-index got over 8000 points while during the last seven months, the market crossed 24000 points.
Meanwhile, the 100-index surpassed several consecutive all-time highs recently. After having a number of records, the 100-index achieved the historic 66000 benchmark for the first time in the first quarter of December 2024.
However, from December 13 the index went down 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 more than 2500 points. Subsequently, 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 oscillated both ways between 63000 and 66000.
