PSX Reaches Another Historic High, Gains 1203 Points to Close at 69,619

Mon Apr 08 2024
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ISLAMABAD: Despite a decline in total volume and value, at the start of the current week, the 100-index of the Pakistan Stock Exchange (PSX) continued the bullish flow it had for the last couple of days as on Monday the index gained 1203.20 points with a positive change of 1.76 percent. At close the market settled at another historic level of 67,619.99 points against the previous day’s stand of 68,416.78 points. 

On Monday, 335,825,036 shares valuing Rs.15.315 billion were traded during the day against the previous day’s shares of 388,751,782, valuing Rs. 17.882 billion the last day.

In total, 342 companies entertained their shares in the stock market, 202 of them recorded gains and 121 met losses, whereas the share prices of 19 remained unchanged. 

During the trade, PTCL remained the volume leader among the top-three trading companies with 33,757,114 shares at Rs.17.02 per share followed by Searle Company with 21,100,371 shares with Rs.61.86 per share and WorldCall telecom with 18,139,120 shares at Rs.1.38 per share.

Rafhan Maize Products Company Limited recorded a maximum appreciation of Rs.150.00 per share price to settle at Rs.8,350.00 followed by Mari Petroleum Company Limited as the runner-up with an increase of Rs.48.88 in its per share price to Rs.2,565.86.

Hallmark Company Limited witnessed a maximum decline of Rs.49.93 per share to settle at Rs.615.80, followed by Al-Abbas Sugar Mills Limited with a fall of Rs.35.00 to close at Rs.550.00.

Bullish Trend PSX 

Recently, the 100-index oscillated both ways, with a dominant bullish flow, where the market crossed a couple of historic bullish slots by getting about 60% in the last 8 months including the last one. 

Only in November 2023, the 100-index achieved over 8000 points whereas during the last seven months, the market crossed to achieve 24000 points.

Meanwhile, the 100-index achieved several consecutive all-time highs recently. After having a number of records, the market achieved the historic 66000 benchmark for the first time in the first quarter of December 2024.

However, from December 13, 2023, the index turned down while observing 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. Subsequently, the market turned up by over 2900 points followed by another historic bullish trend on a single day (1st January) to get over 2200 points. During the last few days, the market expedited its pace till it surpassed the new historic high of 67000 on 28th March, followed by another record high last Thursday to cross the 68000 benchmark, and then finally the last one while crossing the historic 68500 mark.

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