ISLAMABAD: After a one-day bearish trend, the 100-index of the Pakistan Stock Exchange (PSX) turned around to bullish sentiments on Wednesday while gaining 484.35 points with a positive change of 0.77 percent. At close, the index settled at 63,703.45 points as compared to 63,219.10 points on Tuesday.
On Wednesday, 461,390,885 shares valuing Rs 16.000 billion were transacted against the last day’s reading of 409,962,895 shares valuing Rs14.675 billion.
In total, 355 companies entertained their shares in the stock market, among which 180 remained in green with gains, 149 sustained losses, whereas the share prices of 26 remained unchanged.
Cnergyico PK remained the volume leader among the top-three trading companies with 62,181,107 shares at Rs4.39 per share, while K-Electric Limited settled as the runner-up with 45,494,078 shares at Rs 4.79 per share, followed by Hascol Petrol with 30,485,000 shares at Rs 7.98 per share.
Unilever Pakistan Foods Limited recorded a maximum appreciation of Rs 655.00 per share price to settle at Rs 21,800.00, whereas Premier Sugar Mills settled as the runner-up with an increase of Rs 33.75 in its per share price to Rs 483.75.
Pakistan Services Limited experienced a maximum fall of Rs 50.00 per share closing at Rs 740.00, followed by Bata Pakistan Limited with a decline of Rs 25.00 per share to settle at Rs1,700.00.
Bullish, Bearish Trends at Pakistan Stock Exchange
During the last couple of, the 100-index mostly observed a bullish trend, where the market also enjoyed a historic bullish pace by gaining about 60% in the last 6 months.
In general, the market got over 14000 points during the last couple of months. In November 2023, the market appreciated by 8000 points, while during the last five months, the 100-index benchmark achieved the historical 24000 points.
Meanwhile, the 100 index crossed several consecutive all-time highs in the recent past. After having a number of records last November, the 100-index surpassed the historic 60000 benchmark. The index continued the same bullish trend in the first quarter of December, and by December 12, it surpassed 5000 points to reach 66000 plus points.
However, from December 13 the index went bearish with a major fall on December 20 (over 2300 points) and on December 22 (over 1100 points), again followed by a bloodbath on December 26 2023, while going down by over 2500 points. Later, the market went bullish to achieve over 2900 points, followed by another historic bullish trend on a single day (January 1) to get over 2200 points. Later, the market oscillated both ways to date, with a major bearish flow during the last couple of days, where the market lost over 4000 points, followed by a bullish trend for the last 7 working days except Tuesday.
