Alam Zeb Khan
ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend for the second day as PSX-100 index gained 44.49 points on Thursday with a positive change of 0.10 percent. The index closed at 38,831.58 against 38,791.09 points on Wednesday.
A total of 157,822,378 shares were transacted during the day against 153,090,751 shares the previous day, while the price of shares stood at Rs6.406 billion as compared to Rs5.010 billion on the last trading day.
Bullish trend in the market
From last Friday till Tuesday, the 100-index lost more than 2,200 points. However, since yesterday the markets turned around after some good news emerged including the one from the Governor State Bank regarding the possible flow of dollars next week.
On Thursday 335 companies traded their shares in the stock market, 153 of them recorded gains and 157 witnessed losses, whereas the share price of 25 companies remained unchanged.
Experts are of the view that the ongoing bullish trend is optimistic, however, the market still remained under pressure, until both the government and opposition should come promptly to resolve the ongoing political and financial crises including possible shortage of dollars and pending issues with the IMF.
Top Trading Companies
The three top-trading companies were Pak Petroleum, TRG PaK Ltd, and Oil and Gas Dev. with 13,642,897 shares at Rs74.08 per share, 11,048,293 shares at Rs102.40 per share, and with 10,995,702 shares at Rs79.44 per share respectively.
Bhanero Textile recorded a maximum increase of Rs75.69 per share price, closing at Rs1,095.00, whereas Colgate Palm witnessed as the runner-up with a Rs64.00 rise in its per share price to Rs 1,865.00.
Meanwhile, Rafhan Maize witnessed a maximum decline of Rs504.16 per share closing at Rs7,895.84, followed by Nestle Pakistan with a decrease of Rs48.00 to close at Rs5,260.00.
