ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued its bullish trend since last week as on Monday, the index gained 237.88 points with a positive change of 0.48 percent to close at 49,731.35 points against 49,493.47 points on Friday. The previous day, the market had already reached the highest level after an interval of 6 years.
Market experts believe the ongoing bullish trend in the market is due to the continued appreciation of the Pakistani rupee against the international currencies, particularly the US Dollar.
Meanwhile, on the first day of the week, a total of 467,383,787 shares valuing Rs 14.119 billion were transacted against 556,389,862 shares valuing Rs 15.450 billion on the last working day.
Bullish Trend at PSX
On Monday, 359 companies traded their shares in the stock market; 218 of them managed to remain in the green zone with gains and 129 sustained losses, whereas the share price of 12 companies remained unchanged.
K-Electric Ltd settled as the leader among the top-three trading companies with 98,168,338 shares at Rs 3.15 per share, followed by PTCL with 22,603,000 shares at Rs 6.95 per share, whereas Pak Int. Bulk settled as number three from the top with 22,073,500 shares at Rs 4.59 per share.
Nestle Pakistan recorded a maximum increase of Rs 102.00 per share price and remained in the green zone while closing at Rs 7,300.00, whereas Philip Morris Pak settled as the runner-up with a rise of Rs 40.50 in its per share price to Rs 580.50.
Rafhan Maize witnessed a maximum depreciation of Rs 178.11 per share, closing at Rs 8,200.00, followed by Pak Hotels, with a decline of Rs 38.30 to close at Rs 484.71.
