ISLAMABAD: After a long bullish trend for over 7 days, the 100-index of the Pakistan Stock Exchange (PSX) continued the bearish trend for the last three consecutive sessions as on Thursday the index witnessed a loss of 53.53 points further with a negative change of 0.08 percent. At close the market settled at 65,603.09 points as compared to 65,656.62 points the previous day.
On Thursday, 354,153,110 shares valuing Rs14.435 billion were entertained against 419,737,124 shares valuing Rs18.296 billion on Wednesday.
In total, 354 companies traded their shares in the stock market, 145 of them recorded gains and remained in green, 187 witnessed losses, whereas the share prices of 22 remained unchanged.
Pak Elecktron managed to occupy the top slot among the top-three trading companies with 31,074,761 shares at Rs 23.24 per share followed by Telecaard Limited as runner-up with 22,636,636 shares with 8.57 per share whereas PIAC(A) settled with 21,560,000 shares at Rs 15.60 per share.
Unilever Pakistan Foods Limited observed a maximum appreciation of Rs 400.00 per share price to settle at Rs 21,900.00, whereas Rafhan Maize Products Company Limited settled as the runner-up with an increase of Rs 111.12 in its per share price to Rs.9,000.00.
Nestle Pakistan Limited recorded a maximum fall of Rs 310.00 per share closing at Rs 7,890.00, followed by Mehmood Textile Mills Limited with a decrease of Rs 22.50 to settle at Rs 378.50.
From Bullish to Bearish Trend at Pakistan Stock Exchange
In recent times, the 100-index mostly experienced a bullish flow, where the market also witnessed a historic bullish trend by gaining about 60% in the last 6 months.
In general, the market crossed 4000 points during the last couple of months. In November 2023, the 100-index improved by 8000 points while during the last five months, the market got the historical 24000 points.
Meanwhile, the 100-index surpassed several consecutive all-time highs recently. After having a number of records last November, the 100-index reached the historic 60000 benchmark. The index continued the same bullish flow in the first quarter of December and till December 12 it crossed 5000 points to reach 66000 plus points.
However, from December 13 the index went bearish with a significant 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 over 2500 points. Later the market went up by more than 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 till date, with a significant bearish flow during the last couple of days, where the market lost over 4000 points, followed by a bullish trend for 7 consecutive working days before last Tuesday.
