ISLAMABAD: Witnessing a bullish trend for the last two days, the 100-index of the Pakistan Stock Exchange (PSX) continued the bullish flow for the third consecutive day as on Wednesday, the index gained 229.20 points further with a positive change of 0.34 percent. At close the index settled at 65,731.79 points compared to the last day’s stand of 65,502.60 points.
Meanwhile, 341,843,546 shares valuing Rs.11.844 billion were entertained against 323,281,871 shares valuing Rs. 17.059 billion on Tuesday.
On Wednesday, 342 companies traded their shares in the stock market, 173 of them witnessed gains, 146 sustained losses, while the share prices of 23 remained unchanged.
Bank of Punjab XD, remained the volume leader among the top-three trading companies with 45,010,786 shares at Rs.5.28 per share followed by WorldCall Telecom with 34,431,573 shares with 1.36 per share whereas The Organic Meat settled at 17,997,500 shares at Rs.28.97 per share.
Nestle Pakistan Limited recorded a maximum rise of Rs.90.00 per share price to settle at Rs.7,510.00, whereas, Philip Morris (Pakistan) Limited closed as the runner-up with an increase of Rs.39.89 in its per share price to Rs.749.99.
Rafhan Maize Products Company Limited experienced a maximum fall of Rs.424.49 per share closing at Rs.8,575.01, followed by Siemens (Pakistan) Engineering with a decline of Rs.14.43 per share to close at Rs.582.01.
Bullish, Bearish Trend at PSX
Recently, the 100-index mostly recorded bullish sentiments, where the market also reached a historic bullish slot by getting about 60% in the last 7 months.
Only in November 2023, the 100-index got more than 8000 points while during the last seven months, the market surpassed 24000 points.
Meanwhile, the 100-index crossed several consecutive all-time highs recently. After having a number of records, the 100-index reached 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 fall 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. Later 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, till date.
