ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued the bearish session on Friday as the index down further by 247. 80 points with a negative change of 0.38 percent.
AT close the market settled 64,816.47 points against 65,064.27 points the previous trading day.
On Friday 259,373,019 shares valuing Rs 10.120 billion were entertained against 315,247,601 shares valuing Rs 10.487 billion the last day.
In total, 322 companies traded their shares in the stock market, 52 of them recorded gains and 257 sustained losses, whereas the share prices of 20 remained unchanged.
The three top trading companies were Hascol Petrol with 56,955,500 shares at Rs.8.56 per share, Cnergyico PK with 19,638,675 shares with 4.94 per share and WorldCall Telecom with 16,548,457 shares at Rs1.34 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 200.00 per share price, closing at Rs 21,400.00, whereas the runner-up was Bata Pakistan Limited with a Rs 20.00 rise in its per share price to Rs1,670.00.
Meanwhile, Premium Textile Mills Limited recorded a maximum decrease of Rs.24.50 per share closing at Rs.325.50, followed by Mehmood Textile Mills Limited with Rs.16.67 decline to close at Rs.390.33.
Bullish, Bearish Trend at PSX
In recent months, the 100-index mostly recorded bullish sentiments, where the market also enjoyed a historic bullish flow by gaining 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 whereas during the last seven months, the market got the historical 24000 points.
Meanwhile, the 100-index surpassed several consecutive all-time highs recently. After having a number of records last November, the 100-index got the historic 60000 benchmark for the first time. The market continued the same bullish flow in the first quarter of December and till December 12 it achieved over 5000 points to reach 66000 plus 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 up by more than 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 till date.
