ISLAMABAD: After witnessing an upward trend in the initial hours and having too much profit taking by the investors, the 100-index of the Pakistan Stock Exchange (PSX) turned back to a bearish trend after the mid-day and lost 248 points at closing on Thursday to settle at 45,514.95 points against 45,514.95 points the previous day.
At one time in the initial hours, the index went high and even reached near to 46000 points as the investors rejoiced over multiple positive developments on the economic front during the last three days. However, despite a bearish trend, both the volume and value of the traded shares improved during the day.
On Thursday a total of 489,176,319 shares were transacted as compared to 450,259,607 shares the previous day, whereas the price of shares stood at Rs14.543 compared to Rs 13.139 billion on Wednesday.
Bearish Trend at PSX
In total 362 companies traded their shares in the stock market, 142 of them recorded gains and 191 sustained losses, while the share price of 29 companies traded their share without change.
Like the last couple of days, WorldCall Telecom ranked above among the three top-trading companies with 55,536,051 shares at Rs 1.29 per share, followed by TPL Properties with 42,173,034 shares at Rs.14.28 per share and K-Electric Ltd with 30,446,983 shares at Rs.2.05 per share.
Colgate Palm witnessed a maximum appreciation of Rs 61.40 per share price, closing at Rs 1,337.23, whereas Khyber Textile settled as runner-up with an increase of Rs 42.91 in its per share price to Rs 844.00.
Sapphire Tex witnessed a maximum decline of Rs 59.49 per share closing at Rs 1,050.51, followed by Mehmood Textile with a decline of Rs 57.75 per share to close at Rs 712.25.
