ISLAMABAD: After witnessing a bullish trend for the last 5 consecutive sessions, the 100-index of the Pakistan Stock Exchange (PSX) recorded a bearish trend on Tuesday while losing 86.83 points with a negative change of 0.14 percent. At close, the index settled at 63,219.10 points as compared to 63,305.93 on Monday. On Monday, the index gained over 490 points.
Meanwhile, on Tuesday, 409,962,895 shares valuing Rs 14.675 billion were entertained in the market, against 452,868,834 shares valuing Rs16.491 billion the last day, whereas 355 companies traded their shares in the stock market, 111 of them remained in green with gains, 223 met losses, while the share prices of 21 remained unchanged.
B.O. Punjab remained the volume leader among the top-three trading companies with 47,571,335 shares at Rs 6.27 per share, followed by K-Electric Limited with 40,638,1358 shares at Rs 4.52 per share, whereas WorldCall Telecom settled as number three from the top with 25,795,159 shares at Rs 1.27 per share.
Nestle Pakistan Limited experienced a maximum appreciation of Rs 200.00 per share price, closing at Rs 7,780.00, whereas Mari Petroleum Company Limited closed as the runner-up with a Rs 45.21 rise in its per share price to Rs 2,316.87.
Rafhan Maize Production Company Limited recorded a maximum fall of Rs 339.00 per share, closing at Rs 8,400.00, followed by Hoechst Pakistan Limited with a decrease of Rs 61.40 to settle at Rs 1,301.00.
Bullish, Bearish Trends at Pakistan Stock Exchange
During the last couple of, the 100-index mostly observed a bullish flow, where the market also witnessed a historic bullish pace by gaining about 60% in the last 6 months.
In general, the market achieved more than 14000 points during the last couple of months. In November 2023, the market improved by 8000 points, while during the last five months, the 100-index benchmark achieved the historical 24000 points.
Meanwhile, the 100 index surpassed several consecutive all-time highs in the recent past. After having a number of records last November, the 100-index crossed the historic 60000 benchmark. The index continued the same bullish sentiments in the first quarter of December, and by December 12, it surpassed 5000 points to reach 66000 plus points.
However, from December 13, the index turned bearish with a major decline on December 20 (over 2300 points) and on December 22 (over 1100 points), again followed by a bloodbath on December 26, 2023, while going down by more than 2500 points. Later, the market went bullish to achieve over 2900 points, followed by another historic bullish trend on a single day (January 1) to get over 2200 points. Later the market oscillated both way till date, with a major bearish trend during last couple of days, where the market lost over 4000 points, followed by a bullish trend for the last five working days.
