PSX Gains 692 More Points to Reach Another All-Time High

Wed Apr 24 2024
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ISLAMABAD: After getting over 110 points from last Friday to Monday, followed by a slight bearish trend, the 100-Index of the Pakistan Stock Exchange (PSX) turned bullish again on Wednesday while gaining 692.49 points with a positive change of 0.97 percent to reach another all-time high. At close the index surpassed the historic 72000 points for the first time in history and settled at 72,051.89 points against the last day closing of 71,359.41 points

During the last couple of months, the market broke a number of previous records while setting new high benchmarks.

On Wednesday, 599,401,643 shares valuing Rs.24.459 billion were entertained against the previous day’s shares of 655,935,508 valuing Rs.24.485 billion.

In total, 382 companies traded their shares in the stock market, 218 recorded gains, 139 met losses, whereas the share prices of 25 remained constant.

Pak Int. Bulk occupied as the volume leader among the top-three trading companies with 54,513,000 shares at Rs.7.01 per share followed by K-Electric Limited with 40,123,957 shares at Rs.4.14 per share and Air Link Commun settled with 25,939,673 shares at Rs.78.34 per share.

Unilever Pakistan Foods Limited observed a maximum increase of Rs.153.49 per share price, closing at Rs.20,627.99, whereas Hallmark Company Limited settled as the runner-up with an increase of Rs.69.64 in its per share price to Rs.998.21.

Pakistan Tobacco Company Limited registered a maximum decline of Rs.73.04 per share closing at Rs.965.96, followed by Sapphire Textile Mills Limited with a fall of Rs.59.63 per share to settle at Rs.1,265.37.

Bullish Trend at PSX 

During the last several months, the 100-index oscillated both ways, with a dominant bullish flow 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 100-index got over 8000 points whereas during the last seven months, the market managed to get 24000 points.

Meanwhile, the 100-index reached several all-time highs recently. After having a number of records, the market got 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 registering a significant 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 going down by over 2500 points. Later the market turned down 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 flow till it surpassed the new historic high of 67000 on 28th March, followed by the 70,000 mark in early April. In the last two weeks, the market first surpassed the 71,000 barrier and now the 72,000 benchmark.


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