Alam Zeb Khan
ISLAMABAD: After getting optimistic news about Pakistan and IMF talks in Islamabad, The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 743.27 points, with a positive change of 1.78 percent, closing at 42,466.59 points as compared to 41,723.32 points the previous day.
The 100-index witnessing an increase for the last couple of days, with a significant improvement on Thursday as in the case of successful talks with IMF, inflows from other countries will be opened that will have a further positive impact on the stock and value of the local currency.
On Thursday, a total of 367,356,809 shares were transacted against 297,773,210 shares on Wednesday, whereas the price of shares stood at Rs13.590 billion compared to Rs12.072 billion on the last trading day.
Bullish Trend in PSX
On Thursday, 352 companies traded their shares in the stock market, 243 recorded gains, and 86 sustained losses, while the share price of 23 companies remained unchanged.
The three top-trading companies were WorldCall Telecom, Hascol Petrol, and Oil and Gas Dev with 35,163,820 shares at Rs1.34 per share, 25,253,500 shares at Rs6.23 per share, and 18,217,949 shares at Rs105.95 per share respectively.
Nestle Pakistan recorded a maximum increase of Rs219.99 per share price, closing at Rs5,534.99, whereas Goodluck Ind stood as the runner-up with a rise of Rs55.64 in its per share price to Rs797.55.
Sapphire Fiber witnessed a maximum decline of Rs44.00 per share, closing at Rs1,056.00, followed by Sapphire Tex with Rs 31.73 decrease to close at Rs 955.00.
Experts say the successful ending of the Pak-IMF talks will possibly take the PSX to further highs and the way for releasing funds related to bilateral and multilateral agreements with different countries and organizations.
