ISLAMABAD: After appreciating for over 400 points last Friday, the 100-index of the Pakistan Stock Exchange (PSX) on Monday turned bearish and went down by 38.45 points with a nominal negative change of 0.06 percent. At close the index settled at 65,755.31 points as compared to 65,793.76 points on Friday.
On the first day of the week, 548,764,652 shares valuing Rs 16.605 billion were entertained against 481,704,055 shares valuing Rs 16.992 billion on the previous day.
In total, 57 companies traded their shares in the stock market, 220 of them remained in green to witness gains, 118 sustained losses, whereas the share prices of 19 remained constant.
Cnergyico PK remained the volume leader among the top-three trading companies with 96,542,041 shares at Rs 5.11 per share, Hascol Petrol settled as the runner-up with 52,271,500 shares with 8.50 per share whereas Kohinoor Spinning settled with 27,346,000 shares at Rs 5.31 per share.
Meanwhile, Rafhan Maize Products Company Limited recorded a maximum rise of Rs 344.50 per share price to settle at Rs 8,999.50, while Pakistan Hotels Developers Limited settled as the runner-up with an increase of Rs 36.00 in its per share price to Rs 516.00.
Unilever Pakistan Foods Limited recorded a maximum decline of Rs 700.00 per share to settle at Rs 21,200.00, followed by Nestle Pakistan Limited with a fall of Rs 472.23 to close at Rs 7,577.77.
Bullish, Bearish Trend at Pakistan Stock Exchange
Recently, the 100-index mostly witnessed bullish sentiments, where the market also enjoyed 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 went up by 8000 points whereas during the last six 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 trend in the first quarter of December and till December 12 it surpassed 5000 points to reach 66000 plus points.
However, from December 13 the index went bearish with a major 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 bullish by over 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.
