ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued its bullish trend for the last three days. On Thursday, the index gained 355.19 points, marking a positive change of 0.58 percent. At close, the market settled at 61,914.34 points compared to 61,559.16 points on Wednesday.
On Thursday, 324,830,445 shares valued at Rs 13.966 billion were traded, whereas the previous day saw 362,771,035 shares valued at Rs 12.492 billion.
A total of 352 companies traded their shares, with 185 recording gains and remaining in the green, 143 sustaining losses and being in the red, while the share prices of 24 remained unchanged.
Pak Elektron emerged as the volume leader among the top-three trading companies with 23,114,152 shares at Rs 22.74 per share. Cnergyico PK followed with 21,245,331 shares at Rs 3.95 per share, and Pak Intl Bulk with 16,257,000 shares at Rs 6.22 per share.
Services Industries Limited witnessed the highest appreciation in share price, gaining Rs 29.56 to settle at Rs 657.00, while Systems Limited followed with a rise of Rs 23.03 per share, closing at Rs 410.40.
Indus Motor Company Limited saw the maximum fall in share price, dropping by Rs 82.07 to close at Rs 1,466.01, followed by Reliance Cotton Spinning Mills Limited, which declined by Rs 43.126 to settle at Rs 531.88.
Bullish and Bearish Trends at PSX
In recent months, the 100-index has predominantly experienced a bullish trend, with the market witnessing a historic surge of about 60% in the last six months. The market achieved over 14,000 points during the last two and a half months. In November 2023, the market improved by 8,000 points, and over the last five months, the 100-index benchmark reached a historical 24,000 points.
The 100-index crossed several consecutive all-time highs in the recent past. After breaking the historic 60,000 benchmark in November, the index continued its bullish trend in the first quarter of December, surpassing 65,000 points by December 12.
However, from December 13 onwards, the market turned bearish, experiencing significant falls on December 20 (over 2,300 points) and December 22 (over 1,100 points), followed by a substantial decline on December 26, 2023, dropping by more than 2,500 points. The market then recovered, surpassing 29,000 points, and experienced another historic surge on January 1, gaining over 2,200 points. The market has since fluctuated, witnessing a major bearish trend in the last couple of days, losing over 4,000 points, followed by a bullish trend for the last three days.
