ISLAMABAD: After getting over 750 points for the last two consecutive sessions, the 100-index of the Pakistan Stock Exchange (PSX) turned down to the bearish trend and lost 42.89 points on Tuesday with a nominal negative change of 0.08 percent. At the close of the day, the index settled at 51,027.94 points against 51,070.83 points the previous day. Despite a mild bearish trend, the index is still above the fifty-one thousand benchmark, the highest during the last six years.
On Tuesday, a total of 321,403,857 shares valuing Rs 11.091 billion were transacted against 364,070,705 shares valuing Rs 15.930 billion on Monday.
In addition, 342 companies traded their shares in the stock market, 143 of them witnessed gains, and 171 sustained losses, whereas the share price of 28 was traded without a change.
Among the top three trading companies, Pak Refinery remained the volume leader with 33,555,439 shares at Rs 18.64 per share, followed by Fauji Foods Ltd with 29,104,963 shares at Rs.6.98 per share, whereas Bank Islami Pak settled as number three with 15,533,332 shares at Rs19.19 per share.
Sanofi-Aventis witnessed a maximum appreciation of Rs 56.44 per share price, closing at Rs 808.94, whereas Pak Services settled as the runner-up with an increase of Rs 47.83 in its per share price to Rs 749.83.
Rafhan Maize recorded a maximum decline of Rs 100.00 per share, closing at Rs 8,000.00, followed by Philip Morris Pak, with a decrease of Rs 39.85 per share to settle at Rs 491.55.
Bearish and Bullish Trend at Pakistan Stock Exchange
Despite a mild bearish trend, the index is still above the fifty-one thousand benchmark, the highest during the last six years. In the last couple of days, the index went up by more than 2,000 points. The index also first crossed the fifty thousand benchmark after 6 years since June 2017 and then even floated beyond fifty one thousand benchmark. Market experts attributed the bullish trend to the appreciation of the local currency against the dollar.
