Ahmed Mukhtar Naqshbandi
ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on the fourth consecutive day on Thursday while gaining optimistic 1,061.63 points with a positive change of 2.67 percent and closed at 40,846.53 as compared to 39,784.90 points on the previous trading day.
On Thursday a total of 364,131,735 shares were transacted against 269,493,715 shares on Wednesday, whereas the price of shares stood at Rs14.480 billion as compared to Rs10.574 billion on the last trading day.
As many as 356 companies traded their shares in the stock market, 257 of them witnessed gains and 77 sustained losses, while the share price of 22 companies remained unchanged.
The three top-trading companies were Cnergyico PK, TPL Properties and WorldCall Telecom with 44,728,565 shares at Rs4.02 per share, 20,045,406 shares at Rs16.39 per share, and with 14,285,841 shares at Rs1.20 per share respectively.
Pak Services witnessed a maximum appreciation of Rs158.50 per share price, closing at Rs2,276.00, whereas Bata (Pak) stood as the runner-up with a rise of Rs115.75 in its per share price to Rs1,711.76.
Sapphire Fiber recorded a maximum decline of Rs92.57 per share closing at Rs1,147.00, followed by Bhanero Tex with a decrease of Rs89.99 to close at Rs.1,110.00.
Bullish trend in PSX
After having negative trend last week, the 100-indext gained more than 2,100 points. During the first week of January, the index lost about 200 points in three days.
The ongoing bullish trend in the 100-index is possibly due to the Prime Minister’s recent statement about talks with the IMF over the next tranche, where Pakistan has almost agreed to fulfil its demands. Experts are of the opinion that after releasing of the next tranche from the IMF, situation in stock will be further improved.
