ISLAMABAD: After depreciating by over 1000 points during the last two days, the 100-index of the Pakistan Stock Exchange (PSX) continued the bearish flow for the 3rd consecutive session as on Wednesday the index down further by 753.26 points with a negative change of 1.16 percent. AT close the market settled at 64,048.44 points against the last-day stand of 64,801.70 points.
On Wednesday, 252,751,968 shares valuing Rs 9.247 billion were entertained against 321,709,242 shares valuing Rs 10.857 billion on Tuesday.
In total, 329 companies traded their shares in the stock market, 52 of them recorded gains and remained in the green, 257 met losses, whereas the share prices of 20 remained constant.
Cnergyico PK remained the volume leader among the top-three trading companies with 19,852,025 shares at Rs 4.63 per share followed by Bank of Punjab as the runner-up with 18,744,663 shares at Rs 6.02 per share whereas K-Electric Limited settled with 14,394,256 shares at Rs 4.40 per share.
Unilever Pakistan Foods Limited recorded a maximum appreciation of Rs 200.00 per share price to settle at Rs 21,400.00, whereas Bata Pakistan Limited settled as the runner-up with a Rs 20.00 rise in its per share price to Rs1,670.00.
Meanwhile, Allawasaya Textiles and Finishing Mills Limited recorded a maximum decline of Rs 108.00 per share to settle at Rs 1,352.00, followed by Mari Petroleum Company Limited with a fall of Rs 74.57 to close at Rs 2,357.60.
Bullish, Bearish Trend at PSX
In recent months, the 100-index mostly recorded bullish sentiments, where the market also enjoyed a historic bullish flow by gaining about 60% in the last 7 months.
In general, the market crossed 4000 points during the last couple of months. In November 2023, the 100-index went bullish by 8000 points whereas during the last seven 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 got the historic 60000 benchmark for the first time. The market continued the same bullish flow in the first quarter of December and till December 12 it achieved over 5000 points to reach 66000 plus points.
However, from December 13 the index went bearish with a major decline 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 turned 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.
